European airport trade body ACI EUROPE reported a recovery in passenger traffic, with March seeing airports posting their best monthly performance since the COVID-19 pandemic started. It said the recovery resulted from most States in the EU+ area finally easing restrictions for both intra-European and external travel on the back of strong pent-up demand. Accordingly,
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The creation of the European Health Data Space will allow Cypriots to share health data such as their medical history with doctors and hospitals in other EU states. “We are one step closer to the European Health Union”, said Health Commissioner Stella Kyriakides on the proposal submitted by the European Commission for adoption by the
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By Jeffrey Halley The extent of the impact of China’s Covid zero-policy on the domestic economy was highlighted Thursday morning as the Caixin Services PMI for April recorded its second-largest fall on record. Caixin Services PMI fell from 42 to 36.2, one of several headwinds facing China markets as they return from the Labour Day
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More than a quarter of high-net-worth investors will include NFTs, or non-fungible tokens, in their portfolios this year, a survey by a leading financial advisory and fintech has revealed. The poll, carried out by deVere Group, follows a build-up in momentum surrounding the new digital asset class. An NFT is a digital asset that can
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An agreement with the European Investment Fund to manage a new financial instrument to support startups and innovation is seen as a milestone in the government’s effort to enhance alternative financing. Finance Minister Constantinos Petrides said his ministry has long been committed to introducing a financial instrument with equity financing. The Cyprus Equity Fund is
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A ban on Russian oil is included in the sixth EU package of tougher sanctions against Russia unveiled on Wednesday by European Commission President Ursula von der Leyen. “This will be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined. “We will make sure that we phase out Russian oil in an orderly fashion,
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Cyprus meteorological services are hoping to predict regional weather fronts quicker and more accurately after signing an agreement with the met offices of Greece and Israel. The MoU aims to optimise weather forecasting, monitor Eastern Mediterranean changes, and develop fire alerts in specific areas. The signing of the memorandum was welcomed by Agriculture Minister Costas
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Prime Minister of Luxembourg Xavier Bettel is paying Cyprus an official visit on Thursday with Ukraine, energy security and the migration crisis on the agenda of the talks. The head of the President’s press office Andreas Iosif said the two men would discuss ways to end the aggression in Ukraine and issues related to the
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President Nicos Anastasiades wants to see the police report on the incident of football hooliganism, during which 20-year-old bystander Evripides Frangou was left with burns covering 45% of his body. Several days after the events of Saturday, which started after rival fans clashed on the streets outside Larnaca’s Antonis Papadopoulos stadium, the government stepped in
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The University of Cyprus downgraded its projection for economic GDP growth this year to 2.6% due to the Russian invasion of Ukraine, warning of potential deterioration in asset quality in the banking system due to rising inflation. In the UCY Economic Research Centre outlook for May, real GDP growth is estimated at 2.6%, 1.5 percentage
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