Switzerland first to put coronavirus contact-tracing apps to use
Switzerland, on Thursday, said it is the first country to begin general usage of a contact-tracing app that enables location fixing for those infected with...
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As cabinet ratifies EastMed, global producers are struggling
As the Cyprus Cabinet ratified the EastMed gas pipeline project, which is intended to transport natural gas from the Levantine Basin in Israel and gas...
Cyprus’ general government balance in Jan–Apr turns negative due to Covid-19
THE Cyprus General Government generated a deficit of €73 million or 0.4 per cent for the period January – April 2020, reflecting the adverse consequences...
Recovery plan heralds more integrated EU, say analysts
The EU economic recovery plan launched on Wednesday heralds a more integrated union, in which Member States will move closer together in policy, analysts told...
Cyprus restart plan well-received by economists
The plan to restart the Cyprus economy announced by President Nicos Anastasiades on television on Wednesday, and detailed by Finance Minister Constantinos Petrides on Thursday...
Central Bank: all previous projections ‘upside down’, expect ‘serious recession’
Central Bank Governor, Constantinos Herodotou, expects the economy to experience a “serious recession” in 2020 due to the pandemic, he said on Thursday. “The economy’s...
Eight bids for engineering supervision contract for LNG terminal
Eight bids have been received for the engineering supervision contract for building a Liquefied Natural Gas (LNG) terminal on the island to import the gas...
EasyJet to cut 4,500 jobs to stay competitive after crisis
Britain’s easyJet plans to cut up to 4,500 jobs and shrink its fleet to adjust to the smaller travel market which is forecast to emerge...
Wizz Air, now Europe’s largest airline, sets up base in Larnaca (Updated)
WIZZ Air is now Europe’s largest airline in terms of seat supply, according to industry data provider OAG, so it is a signal mark of...
Petrides optimistic Cyprus will cover lost economic ground
The gradual easing of restrictions and reactivation of the economy will enable Cyprus to cover lost ground, Finance Minister Constantinos Petrides said on Thursday, as...
Cabinet ratifies EastMed gas pipeline
The cabinet on Thursday ratified the EastMed gas pipeline project, which had been signed in January by Greece, Israel, and Cyprus. The project is also...
Weather delays SpaceX’s first astronaut launch from Florida
SpaceX, billionaire entrepreneur Elon Musk’s private rocket company, was forced by foul weather to scrub a planned launch on Wednesday of two Americans into orbit...
Lufthansa board rejects EU conditions on $10 bln bailout
Lufthansa’s $10 billion government bailout was thrown into doubt on Wednesday after the German airline’s supervisory board refused to accept the conditions attached by Brussels....
Coronavirus: Anastasiades outlines millions to be pumped into the economy(updated)
President Nicos Anastasiades on Wednesday evening pledged €430m in direct government assistance, and the unlocking of up to €1.7bn in new credit facilities designed to...
NPLs in Cyprus banking system decline below €9 billion
Non-performing loans (NPLs) in the Cypriot banking system declined to €8.97 billion at the end of 2019, with the NPL rate amounting to 27.9 per...
Cyprus expects July comeback for tourists from Russia, Britain
Cyprus hopes to regain lost ground in its tourism sector from July and expects to be able to re-admit British and Russian visitors by then...
Turkish lira set for further fall
At the time of writing, the Turkish lira is at 7.42 against the euro, and analysts expect it to drop further against all major currencies....
EU launches € 1.85 trillion recovery package – ‘Next Generation EU’
The European Commission on Wednesday proposed a package worth in total €1.85 trillion euros for the EU’s next long-term budget and a recovery fund for...
Fiscal package ‘in line with EU framework and government’s capacity’
The new financial stimulus package to be unveiled on Wednesday in response to the impact of the pandemic on the economy, is in line with...
Why Israel creates more startups than others
How do you get people to think big? How do you inspire them to take risks? How do you encourage them to think differently? These...
