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Economy

FinMin gives further clarifications and details on recent bonds issue

The recent issue of bonds by the Republic was solely intended to offset the reversal of the fiscal balance and to decisively strengthen the...

Government to spend €850m in direct support by June amid coronavirus crisis

The government announced the extension of measures to companies and self-employed persons hit by the coronavirus outbreak until June 12, increasing direct support to...

Property sales documents in March down by 33%

Economic indicators show that the coronavirus epidemic has already dealt a heavy blow to Cyprus’ real estate market with sales documents in March recording...

FinMin calls on parties to approve loan guarantee scheme

Minister of Finance Constantinos Petrides called on parliamentary parties to approve a bill on government guarantees for loans to corporations and small businesses hit...

Labour Ministry to extend coronavirus-related support measures till June 12

The Labour Ministry will extend support measures to help employees, companies and the self-employed weather the crisis unleashed by the coronavirus epidemic till June...

Cyprus prices dual EMTN Tranche for €1.75 billion

The Republic of Cyprus has priced on Tuesday two new benchmark-sized Euro Medium Term Notes for a total amount of €1.75 bn with Finance...

CBC calls on Αsset Management Companies to promote loan repayment suspensions

The Central Bank of Cyprus called on Credit Acquiring Companies (CACs) to promote moratorium on loan repayments, as part of the measures to alleviate...

Economy is set to lose €1b from coronavirus

Cyprus expects to lose significant wealth in 2020 since it is moving fast away from initial goals to raise GDP to €22.39 billion. And...

Giant tour operators to determine Cyprus tourism’s post-coronavirus fate

Cyprus' tourism is highly dependent on a handful of giant tour operators who will determine the post-coronavirus fate of the sector, Phileleftheros reports. The Mediterranean island’s key operators number two...

Budget balance projected to reach a deficit near 4% of GDP in 2020 due to pandemic

Cyprus Finance Ministry Public Debt Management Office has said that  the budget balance of the Government is projected to reach a deficit of about...

Cyprus to tap the markets with 7-year and 30-year bonds

Cyprus announced its intention to proceed with the issuance of 7-year and a 30-year euro-denominated bonds in a bid to strengthen its cash reserves...

Registered unemployed in Cyprus record annual drop, monthly increase in March

Registered unemployed in Cyprus recorded an annual drop of 0.6% this March but a monthly increase of 3.2%, data released by Cyprus Statistical Service,...

Coronavirus drops Cyprus’ tax revenue in March by €80m

Fear and restrictive measures due to the coronavirus pandemic reduced Cyprus’ tax revenue in March by €80 million. In March 2019, €324.3 million ended up...

Investment funds a source of liquidity

Financial professionals in Cyprus are focusing on the next steps to be taken the day after the coronavirus pandemic is over, Phileleftheros reports. And they...

CBC instructs banks not to compound interest during loan repayment moratorium

A general implementation on loan repayments will not be considered as restructuring and the banks are not to assess a possible loss in the...

Government needs to preserve fiscal firepower amid Covid19 uncertainty, says Fiscal Council

The state needs to preserve its fiscal buffers and must not spend all of its reserves early as no one can predict the extend...

Fitch’s rating action highlights Cyprus’ responsible fiscal management, FinMin says

The announcement of Fitch rating agency on Cyprus long term rating highlights the government’s responsible management both of the economy and the public finances...

Fitch revises Cyprus’ outlook to stable, affirms at BBB-

Fitch has revised Cyprus' outlook to stable from positive to reflects the significant impact of the global COVID-19 pandemic on Cyprus's economy and on...

Lavrov: Move to change double tax agreement concerns all EU states

The Russian Federation’s proposal to increase the withholding of tax for dividends and interest income was submitted to all EU member-states with which Russia...

‘No political considerations in Russia’s request to amend tax agreement’

There are no political considerations in Russia's request to amend the double taxation avoidance agreement between the Russian Federation and the Republic of Cyprus,...

Parties’ alternatives to state-guaranteed loans submitted by Monday

Discussion before Friday’s House plenum on a government scheme to guarantee loans worth €2bn has been postponed since political parties are set to submit...

Top Stories

EU sets up financial crime unit as pandemic poses new risks

    The European Union on Friday set up a unit of investigators to tackle an expected surge in finanial crime in the economic downturn triggered...

Higher risk of serious Covid-19 infection for A+ blood type, new study finds

People with A+ blood type are at increased risk compared to other blood types for respiratory failure and death due to a severe Covid-19...

BirdLife Cyprus invites pubic to join swallow monitoring programme

  BirdLife Cyprus is inviting the public to help their programme to record the island's swallow population. In a post on Facebook, the NGO asked members...

Article that found risks in hydroxychloroquine against COVID-19 retracted

  An influential medical journal article that found hydroxychloroquine increased the risk of death in COVID-19 patients was retracted on Thursday, adding to controversy around...

Latest on the worldwide spread of the coronavirus

Latest update: 05/06/2020 08:16 The U.S. government is working with drugmakers to maximize availability of influenza vaccines, worried that a substantial flu season on top...

Taste

Poulles (Υoung kolokassi)

Either you thrash the coriander seeds in a mortar, without making them into dust, or you gradually crush them in a blender. Remove the edges...

Pork cooked in wine

Crush the coriander seeds in a pestle and mortar or pulse-blend in a blender, taking care not to over-grind. Put the meat in bowl (not...

Lefkaritikos tavas – O ‘protinos’

Wash and dry the meat and rice separately. In a ‘tava’ (oven proof deep clay pot) first put a layer of five-six pieces of meat...

Local cuisine: An introduction

Rich in fresh ingredients and tasty herbs, offers the very best of Mediterranean culinary delights. Head out to a tavern and feast on a...