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Economy

Government’s financial support to businesses hit by pandemic to begin 1 February

Following the approval of the revised state budget the Finance Minister will begin as of Monday, 1 February the one-off payment to the companies...

Paphos theme park postponed due to COVID

Paphos was due to get its own theme park through investments from Hong Kong and by Cypriot investors in the area of Kalo Chorio....

Electricity Authority: New prices in place

Every year the EAC is obliged to submit to the Cyprus Energy Regulatory Authority (CERA) new tariffs for approval. The prices are calculated aiming...

Moody’s: Bank of Cyprus in better position to deal with COVID downturn due to new bad loan portfolio sale

Moody’s rating agency says that the new sale of a bad loan portfolio by the Bank of Cyprus, puts the bank in a better...

Some 3.7 million euros to farmers due to coronavirus

So far, an amount of 2.4 million euros has been deposited in the accounts of producers who have been affected by the COVID-19 pandemic...

Industrial area to be established next to the Nicosia Mall

The Environmental authority gave the green light for the establishment of a big industrial zone within the boundaries of the Lakatamia Municipality, in an...

Tourist arrivals plunge by 84% in 2020 in one of Cyprus’ worst tourist seasons due to Covid

Tourist arrivals in Cyprus reached a mere 631,609 plunging by 84.1% year on year in one of the worst ever season for Cyprus’ tourist...

Bank of Cyprus announces sale of €545 mn portfolio of bad loans

Bank of Cyprus Holdings Public Limited Company announced that it has reached agreement with funds affiliated with Pacific Investment Management Company LLC (PIMCO), for...

Bad loans in Cyprus down 5.7% at the end of June 2020

Α further decrease of €381 million or 5.7% was recorded in aggregate NPLs compared with the end of June 2020. According to an announcement by...

Finance Minister: new budget rejection to push Cyprus to default

A new rejection of the 2021 state budget could lead Cyprus to default on its payments, Minister of Finance Costantinos Petrides warned on Friday,...

Cyprus Central Bank Governor: Banks need to find new business model to adapt to new era

Banks need to find a new business model to adapt to the new era, Cyprus Central Bank Governor Constantinos Herodotou has said. Herodotou, who was...

New system for paying social insurance contributions presented

During a news conference by Labor Minister Zeta Emilianidou and deputy Minister of Research, Innovation and Digital Policy Kyriakos Kokkinos, the new Online System...

CyStat preliminary estimate shows house prices drop by 1.3% annually in Q3 2020

House prices in Cyprus recorded an annual drop of 1.3% in the third quarter of 2020 compared with the corresponding quarter of 2019, a...

Reviewed state budget to be presented in Parliament on 21 January

The House Plenum, which will discuss the reviewed state budget, has been postponed for 21 January, following a decision by the political party leaders,...

New lockdown in Cyprus to accelerate non-performing loans, says Moody’s

The new lockdown measures enforced in Cyprus will lead to increased challenges on bank asset quality as well as accelerated non-performing loans (NPLs) as...

Cyprus to launch biggest-ever digital campaign abroad to promote tourism

Cyprus’ Deputy Ministry for Tourism will launch the biggest digital campaign to day in a bid to promote tourism which in 2020 took a...

National minimum wage when unemployment is around 5%

The Cabinet decided on Wednesday to start social dialogue for the implementation of the national minimum wage in Cyprus when full employment is reached,...

Vehicle registration in Cyprus drops by 16.1% in 2020

The registration of vehicles in Cyprus recorded a drop of 16.1% in 2020, data released by the Cyprus Statistical Service (CyStat) on Monday, show. In...

General Government fiscal results indicate a deficit of €799 million

General Government fiscal results recorded a deficit of €799.2 million for the first 11 months of 2020, mainly due to the support measures taken...

What you have to know when importing used cars from the UK

The Customs Department issued a statement clarifying what is valid regarding the import of vehicles from the United Kingdom. According to the trade and cooperation...

Sources say revised state budget for 2021 ready

The revised state budget for 2021 is ready while Finance Ministry staff are reviewing the final touches on measures to support the economy and...

Top Stories

Proposal for establishment of Deputy Ministry of Social Care

During its meeting today, the Ministerial Council approved a draft bill regarding the establishment of a Deputy Ministry of Social Care. The Deputy Ministry will...

Health Minister announces gradual relaxation of COVID-19 measures

During a news conference, Health Minister Konstantinos Ioannou announced the relaxations of the restrictive measures aiming to contain the spreading of COVID-19.  As he...

Hotline 1471 for those feeling stressed and despaired due to the coronavirus

Feeling stressed and in despair because of personal, social and economic consequences of the covid-19 pandemic? Then call the Citizens’ Line on 1471 and...

Number of Cypriot officials attacked through fake social media accounts on the rise

The number of Cypriot officials coming under attack through fake social media accounts is rising year in year out, according to official data. Specifically, data...

Cyprus’ proposals for EU Recovery and Resilience Facility funds before Commission

Cyprus’ plan of proposals to receive about €968 million of funding from the European Union Recovery and Resilience Facility – Next Generation EU were...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...