Cyprus Labour Ministry expenditure exceeded €1 bln in the first seven months of 2020 due to furlough schemes to support employees and businesses affected by the coronavirus pandemic fallout. According to the treasury, the Ministry’s expenditure from January to July amounted to €1.005 bln marking an increase of €407 mln or 68% on the same
More
European Union sanctions on Belarus are being delayed by a separate dispute between Cyprus and Turkey over energy resources in the Eastern Mediterranean, four EU diplomats told Reuters. EU foreign ministers gave their political approval for sanctions on senior Belarus officials at a meeting in Berlin late last month over the August 9 elections that
More
Sir Christopher Pissarides, a Nobel prize-winning economist, has joined the EuroAfrica project to build a 1,000MW Egypt-Cyprus electricity interconnector scheduled to be operational by end 2023. The 2010 Nobel laureate and Professor of Economics at the London School of Economics was appointed Chairman of the Economic Council of EuroAfrica Interconnector. Thursday’s announcement comes as Cyprus-Egypt
More
Cyprus has a 10-year strategy to reduce the number of fatal road accidents by at least 50% until 2030, Minister of Transport, Yiannis Karousos said. Karousos was speaking at a meeting of the Road Safety Council which convened on Wednesday to adopt the new Strategic Plan for Road Safety 2021-2030. The Secure System, the minister
More
A Cypriot researcher has earned a €1.25 mln grant from the European Research Council (ERC) to conduct her study of tracking ancient Mediterranean trade routes during the late Bronze – early Iron Age. Dr Artemis Georgiou, a researcher at the University of Cyprus submitted her proposal entitled “ComPAS”, which was selected by the ERC’ “Starting
More
With Turkish Cypriot authorities reporting a spike of 163 cases since the beginning of September, divided Cyprus has recorded more than 2,000 COVID-19 infections. On Wednesday, Turkish Cypriot authorities reported 19 new cases following Tuesday’s 38, the highest number of coronavirus infections since the outbreak in March. The new COVID-19 cases take the total to
More
Cyprus President Nicos Anastasiades on Thursday will inform leaders at the MED7 summit about ongoing Turkish activities in Cypriot waters and threats to reopen the fenced-off city of Varosha. Deputy government spokesman Panayiotis Sentonas said the President will be in Corsica, France, to attend the MED7 Summit at the invitation of French President Emmanuel Macron.
More
Reinsurance prices are expected to rise by at least 5% next year as the fallout from the coronavirus, more volatile natural catastrophe losses and capacity constraints take a toll on reinsurers profitability, Moody’s said in its annual survey of P&C reinsurance buyers. Over 90% of respondents expect price increases in 2021 across all lines, while
More
The Republic of Cyprus has succeeded in keeping daily COVID-19 cases down to a minimum while Turkish Cypriots across the divide have shutdown ports due to a spike in infections. While the Health Ministry on Wednesday reported just three new infections, cases have skyrocketed in the Turkish occupied north, leading authorities there to temporarily close
More
There will be no crowds cheering during Cyprus Independence Day celebrations as the national holiday has become a victim of restrictions imposed to contain the pandemic. The annual military parade which takes place in Nicosia on 1 October, to mark Cyprus independence from British rule in 1960, will go ahead without the public allowed to
More
