The UK expects Turkey, as a NATO ally, to refrain from buying or operating Russian military equipment, such as the S-400 air defence system, a British Defence Minister has reiterated. The comments were made in a letter to the Chair of the All-Party Parliamentary Group for Cyprus. The letter to Sir Roger Gale by Minister
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Cyprus banks tightened lending criteria in the third quarter of 2020 while there was increased demand for loans from businesses and households during the pandemic, according to the bank lending survey. The Central Bank of Cyprus (CBC) survey said: “Banks have adopted stricter criteria in offering loans, mainly due to the uncertainty and potential increased
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By Hussein Sayed, Chief Market Strategist at FXTM Stocks hit an all-time high early Thursday on optimism that the new US administration will take bold steps in reviving growth and speed up vaccine distribution. All three major US indices climbed to new records on President Biden’s swearing in, with the S&P 500 posting its best
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By Dr Ioannis Kasoulides From ancient history to the present time, our island, Cyprus, was, and, will remain the connecting link between the nations of the East and the West, between Asia and Europe. Cyprus has always been a serene island offering stability, peace, security, and tranquillity in stormy times. That is, what everyone sought,
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Cyprus reported 178 new coronavirus cases on Wednesday, 14 more than the day before, but saw a small drop in the number of COVID-19 patients in local hospitals, with administration officials undecided about softening lockdown measures. A 9pm curfew remains in place as all retail businesses have been shut, with the public limited to two
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An EU court ruled Wednesday there is no possibility of consumers confusing Cyprus’ traditional cheese Halloumi with its Bulgarian imitator BBQLOUMI in a legal fight to protect the brand. The European Court of Justice General Court confirmed there is “no likelihood of confusion between the collective mark HALLOUMI and the sign ‘BBQLOUMI’ which serves to
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The Armenian and Pontian Greek communities of Cyprus hailed Paphos municipality’s decision to rename Talaat Pasha Street near the municipal market to Justice Street by removing the name of the mastermind of the Armenian Genocide. The street is in the former Turkish Cypriot neighbourhood of Moutallos, on the intersection of Petrakis Miltiadous and Afroditis streets,
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The Health Ministry will relax an earlier decision on private companies sending 85% of their staff to work from home, despite declaring a week ago that doing so would defeat the purpose of the lockdown. Government sources told the Financial Mirror on Wednesday that the Health Ministry has revisited the decision with the Health Minister
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Cyprus is looking into ways of expanding a relief scheme subsidising borrowers with toxic mortgages to cover borrowers who failed to make the first cut, as they were found unviable. Acting government spokesperson Panayiotis Sentonas said on Wednesday that Finance Minister Constantinos Petrides has been tasked by the cabinet to draft a plan for borrowers
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Cypriot workers are worse off than they were 10 years ago as their wages are lower compared to 2010 average earnings, claims the Independent Civil Servants Union (ASDYK). In an announcement, quoting latest Eurostat data, the union claims that the average wage in Cyprus dropped in 2018 to €1,837 compared to 2010’s €1,890. It called
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