Following its unprecedented rejection, Cyprus’ revised 2021 budget was narrowly approved by parliament with the government relieved to see millions for coronavirus support unlocked. The €17.1 bln budget was passed on Thursday with 29 votes for and 26 against. Votes in favour came from ruling DISY (18 seats), EDEK (three seats), the Citizens Alliance (one
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Cyprus President Nicos Anastasiades outlined to Brussels the difficulties the island is facing because of the slow rollout of COVID-19 vaccines ordered through the EU. He said the challenges are mainly due to the delays in the production of the pharmaceutical companies with which the EU has signed contracts. Anastasiades participated in a videoconference of
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By Han Tan, Market Analyst at FXTM The rally in global stocks is taking a breather before the weekend, having posted a new record high on Thursday. Most Asian benchmark indices are in the red, while US equity futures are dipping slightly. Friday’s pause appears warranted by technical indicators, seeing as the 14-day relative strength
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By Charalambos Pitros While uncertainties remain for 2021, the Cyprus property market will continue to show its strength. With at least two viable vaccines, low mortgage rates, tight supply and supportive government initiatives; the housing market will remain stable in 2021. Property sales in 2020 fell by 23% compared to 2019; while almost all of
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Two elderly men died on Thursday as Cyprus reported a mild drop in new SARS-CoV-2 cases to 164, with the number of patients being treated also receding slightly at 184. The improving trend prompted the Health Minister to say this may lead to some restrictions being eased at the end of the month when the
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An earthquake recording a magnitude 5.0 on the Richter Scale in Cyprus was felt across the island and as far as Lebanon, Israel, Turkey and Syria. The Cyprus Geological Survey said the earthquake measuring 5.0 on the Richter Scale, occurred at 4:27 pm local time, 18 km northeast of the southern coastal town of Larnaca,
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Moody’s rating agency said the sale of a bad loan portfolio by the Bank of Cyprus puts it in a better position to deal with an inflow of new NPEs arising from the pandemic-induced economic downturn. Moody’s issued a comment on the bank after the sale on 18 January, of and additional portfolio of non-performing
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As epidemiological data improves after spiralling out of control, Cyprus can plan the gradual lifting of a lockdown to contain coronavirus, said Health Minister Constantinos Ioannou on Thursday. Cyprus went into its second lockdown on January 10 after a roller coaster of cases peaked at 907 on 29 December. Encouraged by a drop in daily
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Cyprus Police have registered a new record in daily fines to people for violating COVID-19 regulations after 146 individuals and three shops were reported. A Police spokesperson told CNA, the force carried out 10,668 checks island-wide in the last 24 hours ending at 06:00 local time Thursday. Breaking lockdown rules or COVID-19 measures incur a
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Hoteliers are exasperated as they do not expect to see serious tourist arrivals to Cyprus until the summer while hoping that mass vaccinations will help them turn a corner. Cyprus Hotel Association’s Paphos Chair Thanos Michaelides said the second wave of COVID-19 infections crippling Europe has forced all major tour operators to freeze any plans
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