The Cabinet approved a six-month extension of an incentives scheme to airlines to combat the effects of the COVID-19 pandemic on Cyprus connectivity. Transport Minister Yiannis Kasouros said Tuesday the six-month extension complies with the temporary framework for relaxation of state grants approved by the European Commission, ending in December. The European Commission, he said,
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Τhe Investment Funds sector in Cyprus was significantly strengthened in 2021, with managed assets increasing 48.7%, even though the consequences of the pandemic and uncertainty continued. According to the Cyprus Investment Funds Association (CIFA), the sector is one of the most promising sectors of the economy and fastest-growing. Assets under Management (AuM) of Cypriot investment
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More than 3,000 motorists jumped at the opportunity for a state grant to replace their old banger with an eco-friendlier vehicle in a scrappage incentive scheme. The first phase of a €15 mln incentive scheme to convince motorists to go greener ended on Monday. The Transport Ministry expressed its content over the turnout. “Taking into
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Cyprus’ decision to tighten measures at airports due to the spread of Omicron has seen holiday booking cancellations from the UK, said the island’s tourism boss. In comments to Phileleftheros daily, Deputy Minister of Tourism Savvas Perdios confirmed that measures have put off some tourists from coming to Cyprus for a winter escape, with cancellations
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The European Commission issued 12 grants worth €2.5 mln to support Turkish Cypriot civil society organisations in promoting EU values and creating a fertile environment for dialogue and cooperation with Greek Cypriots. It signed 11 new contracts with different Turkish Cypriot civil society organisations for a total of €1.8 mln, a direct grant of €700,000
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Despite worsening coronavirus in the EU, Cyprus has upgraded Romania on its safe travel list from the high-risk red category to orange. Romania joins Greece as the only two EU member states remaining outside the red category, in the only change to the island’s safe travel list assessment, the Health Ministry said. With the more
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Three people died of coronavirus in Cyprus on Monday, as new daily cases soared to 835, double the previous day’s infections, while hospitalisations rose to 179. The health ministry said in its daily Covid report that two men died, aged 68 and 92, and an 83 year old woman, raising the death toll since the
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The European Union’s drug regulator on Monday approved the Covid-19 vaccine from US-based Novavax in people over 18, paving the way for a fifth coronavirus shot as the Omicron variant takes hold. Data from two large studies showed the vaccine has an efficacy of around 90%, the European Medicines Agency (EMA) said, adding there was currently limited
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The Turkish Lira has reached another record low, as President Recep Tayyip Erdogan refers to Islamic usury doctrine to defend his insistence on his unorthodox low-rates policy. The currency, which has lost 50% of its value against the dollar since Erdogan ordered the central bank to start lowering borrowing costs in September, fell to a
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Tributes have poured in for Loukis Papaphilippou, an authority on law and the Cyprus constitution, champion of free broadcasting and patron of the arts, who died aged 84. Papaphilippou was admired for his proficiency and sharp judgment in law matters and was highly sought after establishing his firm in the early 1960s, soon after independence.
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