Revenue from tourism up in January 2020
Revenue from tourism amounted to €40.2 million in January 2020, an increase of 1.5 per cent over the same month in 2019, data published by...
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Coronavirus: Scheduled gas drills likely to be delayed
Scheduled gas drills offshore Cyprus will most likely be delayed for an indeterminate amount of time, Foreign Minister Nicos Christodoulides said on Tuesday, when asked...
State contribution to Gesy reduces fiscal surplus in 2019
The state’s contribution to the national health scheme Gesy was the main reason for the 33 per cent smaller fiscal surplus in 2019 compared to...
CBC governor says banks not expected to charge compound interest on deferred loans (updated)
The central bank (CBC) governor said on Tuesday he expected banks not to charge compound interest on the deferred interest accrued after parliament passed a...
Coronavirus: economy could contract by 5 per cent this year, Petrides says
The economy was heading for recession and could contract by 5 per cent this year said finance minister Constantinos Petrides on Tuesday. Speaking on CyBC’s...
Coronavirus: Banks open applications for suspending loan repayments
The finance ministry on Monday issued a decree ordering all licensed banks in Cyprus to suspend the collection of loan installments – including interest –...
Coronavirus: Labour ministry posts applications for coronavirus-related benefits
The ministry of labour on Monday posted online some of the applications for benefits related to employment or sick leave due to the coronavirus situation,...
Labour ministry clarifies special sick leave beneficiaries
The ministry of labour has clarified who is eligible for the special sick leave benefit due to coronavirus. The scheme covers the period March 16...
Deadline for tax returns extended
The tax department announced on Monday a three-month extension on the deadline for submitting income tax returns, normally due by March 31. In line with...
Oil plunges to 2002 lows, shares sink again
Oil took another eyewatering 8% tumble on Monday and world shares buckled again as fears mounted that the global coronavirus shutdown could last for months....
Coronavirus: Keve sets up bank account for donations to help
Private companies have shown great interest in wishing to donate to help in the battle against Covid-19, the Chamber of Commerce and Industry (Keve) said...
Economic life’s quest to continue under coronavirus cloud
By John Kemp The health costs of coronavirus are measured in lives; the economic costs are measured in the goods and services not produced while...
Why 150% is the new 100% for public debt/GDP
Swaha Pattanaik When it comes to age, 70 is supposed to be the new 50. A similar rethink is on the cards for public debt....
Coronavirus: Plenum to convene later Sunday after parties disagree on remaining bills
The House plenum will meet at 5pm to discuss two outstanding bills as part of a raft of measures to aid the economy in the...
Emergency aid package a race against time
Success of emergency package will depend on how long lockdown lasts By Kyriacos Iacovides Cyprus is better placed than some fellow EU states to support...
Coronavirus: MPs to meet over outstanding emergency aid bills
The House finance committee will meet at 5pm on Saturday to discuss two outstanding bills as part of a raft of measures to aid the...
Real GDP could shrink by up to 9.2 per cent in 2020
Real GDP in Cyprus could decrease by between 3.5 per cent and 9.2 per cent in 2020, according to a study published by Nicosia-based research...
Shipping ministry extends fee payment deadline
In an effort to support shipping companies and shipowners in Cyprus during the coronavirus crisis, the shipping ministry has decided to extend the deadline for...
Economic sentiment deteriorates in March after initial Covid-19 impact
Economic sentiment in Cyprus deteriorated markedly in March 2020, as the Economic Sentiment Indicator (ESI-CypERC) decreased by 12.1 points compared with February 2020, reflecting the...
Coronavirus: Cabinet approves emergency relief budget of €360m
The cabinet on Thursday green-lit and then submitted to parliament a supplementary state budget of approximately €360m as relief for individuals and businesses impacted by...
