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Economy

FinMin: Net financial impact of support package to cost €450m

The net financial impact of the support package approved by the Council of Ministers on Sunday will bet  €450m, while another €250m will be...

Cyprus’ financial support package to coronavirus-affected companies almost ready

The Cyprus government is putting the final touches on the financial package providing financial support to companies in response to the coronavirus. The package is...

Economic fears in Cyprus over Italy’s lockdown

Coronavirus has already affected imports and exports worldwide with a recorded slowdown in trade, Phileleftheros reports. And with Italy already under a national lockdown, economic...

Cyprus prepares national fiscal package of measures to counter coronavirus

The government is drafting a national fiscal package of measures based on three pillars to counter the economic consequences of the coronavirus epidemic, Phileleftheros...

Cyprus economy moves into uncharted waters

The Cyprus economy has some buffers but limited resistance to tackle a potential economic slowdown because of the coronavirus, Phileleftheros reports. That’s why the government...

250 Estia scheme applicants eligible, House Committee hears

Of the 5600 applications submitted for Estia scheme, 507 applications were processed until last week, of which 250 are eligible, according to Michalis Kronidis,...

Coronavirus has Cyprus tourism industry preparing for the worse

The Mediterranean island’s tourism industry is preparing for the worse now that coronavirus is spreading fast and two confirmed cases have been recorded in...

Public Service Commission calls for prompt submission of 2019 annual reports

The island’s Public Service Commission (NSA) has called on ministries and semi-governmental organisations and departments to prepare the 2019 annual service reports on time,...

Social partners to launch talks on COLA permanent reform

Social partners in Cyprus are to start negotiations aiming towards an agreement for a permanent reform of Cost of Living Allowance within the next...

Standard & Poor’s affirms Cyprus’ growth prospects, points out coronavirus risks 

Standard & Poor’s Global Ratings has affirmed its `BBB-/A-3` long- and short-term foreign and local currency sovereign credit rating on Cyprus with a stable...

Unemployment in February down; highest recorded in hotel industry

The number of registered unemployed in Cyprus in February 2020 dropped to its lowest level since August 2009, according to data released by the...

Tax Department returns tens of millions

The Tax Department has returned up to €53 million  to 212,689 payers between 2017 and 2019 in a bid to sort out pending obligations...

Jobless decline by an annual 14% in February

The number of registered unemployed persons in February 2020 declined to 25,620 persons marking a reduction of 13.9% or 4,131 persons compared with the...

US State Department very positive over Cyprus’ anti-money laundering bid

The Republic of Cyprus continues to upgrade its established anti-money laundering legal framework, according to the US State Department’s Anti-Money Laundering (AML) report released...

Cyprus targets Ukrainian, Polish tourist markets

The Deputy Ministry of Tourism aims to reduce Cyprus' dependence on its two major markets of Britain and Russia. That is why it has...

Cyprus property sales drop in first two months of 2020

Property sales this year are on the decline with the first two months recording a 7% drop. Sales in three districts were down with...

Cyprus in 2019 marks five years of consecutive economic growth

Cyprus in 2019 marked its fifth consecutive year of economic expansion since the 2013 financial crisis, with the Ministry of Finance noting that the...

From traditional bank employees to managers of NPLs

The transformation of Cyprus’ banking sector also marked the transition of employees into a new "parallel" market focusing on the management of non-performing loans. That’s...

Euro-dollar volatility surges to one-year high

Volatility in the euro-dollar exchange rate surged to its highest in more than a year on Friday, as growing fears over a coronavirus outbreak...

Cyprus makes early repayment of IMF loan, saving €13.4 million

The Republic of Cyprus fully repaid on Thursday an International Monetary Fund (IMF) loan granted to the country in the period 2013-2016. According to a...

Cyprus to revoke three more citizenships

Cyprus will strip three more foreigners of citizenship granted to them under a controversial investment programme, Phileleftheros reports. The latest decision which was recently taken...

Top Stories

How to pay a restriction violation fine

Fines for violations of the restriction decrees, enforced on March 24, are payable as follows: Any commercial bank connected to the payment provider or providers...

What we don’t yet know about the coronavirus

It has been only three months since reports first emerged from China of an unknown virus causing unusual cases of pneumonia, and scientists and...

Coronavirus patient critical at Limassol hospital

A coronavirus patient at Limassol hospital is reported to be in critical condition and has been placed on a respirator. According to the State Health...

24 coronavirus patients at the Famagusta reference hospital

Nine more coronavirus patients have been admitted to the Famagusta hospital, the reference institution for confirmed cases, raising the number to 24. According to CNA...

Man attacks police during restriction checks, in custody

A 30 year old Georgian man was remanded in custody for 2 days by the district court in Limassol after attacking officers and damaging...

Taste

Village salad

A must-have with every meal is a village salad. You will find it in every tavern or greek restaurant you visit in Cyprus. Make...

Courgettes with eggs

Heat the oil in a frying pan and fry the courgettes at a medium heat until they soften. Add salt and add the eggs....

Classic Pastitsio

Prepare the mince sauce: heat the butter in a pan and sauté the mince with the onion and garlic until nicely browned, mixing well....

Grilled vegetable and goat cheese rolls

Brush the vegetables with olive oil and season. Heat a pan/griddle and cook them carefully until golden on both sides, making sure their shape...