The Central Bank of Cyprus (CBC) assures, in a written statement, that the necessary precautionary measures have been taken to minimize any impact of the war in Ukraine on the Cypriot financial system. At the same time, CBC notes that due to the rapid developments, the analysis of the potential impact and the possible risks is continuous.

The Ministry of Transport and the Deputy Ministry for Tourism are striving to offset the impact of the airport traffic from Russia, after Cyprus along with the other EU member-states have closed their air space to Russian aircraft, following the crisis in Ukraine, Minister of Transport Yiannis Karousos has told CNA, expressing the hope that these efforts will bear fruit.

English actress Elizabeth Hurley stars in the new film ‘The Piper’ produced by Limassol-based company Fetisoff Illusion-Europe.

Irena Georgiadou, the former chairperson of Hellenic Bank, has joined the board of RCB Bank, following changes at the Limassol-based bank, including the announcement last week of its shareholding restructure.

Targeted inspections in the construction sector will now be conducted by the Ministry of Labor, Welfare and Social Insurance beginning in March in an effort to clamp down on undeclared labor.

Cyprus will cover the cost of PCR tests for Ukrainian citizens arriving at Larnaca and Pafos airports, according to instructions given by Cyprus President, Nicos Anastasiades.

A sixth bus terminal in Nicosia will be available to the public from February 26, as the Cyprus Public Transport company announced that the second phase of upgrading the network is nearly complete.

Russian state-owned VTB Bank (PJSC) has transferred all its shares in RCB Bank to Cypriot shareholders, making RCB a 100% Cypriot-owned bank.

Cyprus’ Harmonized Index of Consumer Prices in January 2022 increased by an annual 5%, climbing to the highest level of the last 13 years, mainly pushed by prices increases in energy and transport.

The enhancement of trade relations between Cyprus and the UAE, was discussed on Wednesday in Dubai, during a meeting between Cyprus Energy, Commerce, and Industry Minister, Natasa Pilides, and UAE Minister of State for Foreign Trade Thani Ahmad Al Zeyoudi.