The rise in daily Covid-19 infections and heightened uncertainty over the impact on the real economy led Cyprus banks to tighten the lending criteria for corporate loans in the fourth quarter of 2021. A Central Bank of Cyprus (CBC) lending survey shows that lending criteria for household loans remained unchanged; expectations of the banks suggest
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Establishing the island’s electricity market, promoting green energy projects, and the EuroAsia Interconnector top Cyprus’ Energy Regulatory Authority’s (CERA) to-do list. President Nicos Anastasiades said Monday that authorities are concentrating on carrying out a national strategic plan to turn energy into a driving force for wealth, welfare, security and environmentally sustainable development. Talking during the
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By Hussein Sayed, Chief Market Strategist at Exinity The first three months of 2022 have been one to forget. The S&P 500 ended the quarter down 4.95%, its worst performance since the coronavirus pandemic and the fourth worst quarterly performance over the past ten years. The tech-heavy Nasdaq Composite did even worse, falling 9.1% as
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According to retailers, consumers can expect more nasty price shocks as the cost of essential goods and petrol will continue to soar. Prices of essential goods, already on the rise due to hiking raw materials, will be further inflated due to the war in Ukraine, with more increases looming after the Easter holidays. In comments
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Despite large migrant inflows and the pressures created in their asylum process, Cyprus heeded the EU’s call to assist and support the Ukraine people, said Interior Minister Nicos Nouris. He told reporters there are around 15,000 Ukrainians in Cyprus, 5,000 were already resident on the island, and the rest arrived after Russia invaded Ukraine. According
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Cyprus continues to suffer from high levels of dust particles in the atmosphere for the fifth day in a row, three to four times above normal readings, with the Department of Labour Inspection warning the public on Monday to stay indoors. High concentrations of dust are observed in all towns, with measurements from ground stations
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Cyprus reported two coronavirus deaths on Sunday, with new daily cases dropping to 2,853, while hospitalisations remained above the 200-level and increased to 203, just as the government is planning to remove more restrictions. Health Minister Michalis Hadjipantela said earlier on Sunday that the cabinet will decide later in the week on easing COVID-19 measures
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Cyprus will decide on Thursday if it will go ahead and lift further restrictions, despite daily coronavirus cases rising to a record 6,494 a week ago, with hospitalisations also increasing steadily and passing the 200-mark, considered a manageable level in hospitals. The government is under pressure to reduce testing requirements, especially in schools, while wearing
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A country’s diplomatic mission abroad functions as a mirror of back home. In the business world, embassies should promote the interests of the country they represent, keeping an eye on opportunities. It should then be up to Cypriot firms and those in the host country to get together. The embassies should try to deal with
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It took a slap at the Oscars to divert world attention away from the war in Ukraine, with some secretly wishing that Will Smith could do the same to someone in the Kremlin. Shortly before being awarded the Oscar for best actor, Will Smith took umbrage at a joke that presenter Christ Rock uttered about
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