The IMD World Competitiveness Ranking is a worldwide reference point on the competitiveness of countries measured against a set of factors, including economic performance, Government efficiency, business efficiency, and infrastructure. In the rankings for 2021, Cyprus has positioned 33rd overall, with a notable 13th place in economic performance.

Global Restructuring Review (GRR) has just released its 2021 guide to the world’s leading law firms for cross-border restructuring and insolvency matters. Global Restructuring Review is the world’s only daily news and analysis service on cross-border restructuring and insolvency law and we are delighted to report that for the third successive year Elias Neocleous & Co LLC has been included its elite GRR 100 list.

Major infrastructure projects will go ahead as planned in the next year, including the Paphos-Polis highway and the installation of charging stations for electric cars, the transport minister said Monday.

With some resistance, the Cyprus government, trade unions, and employers are getting down to the nitty-gritty of the thorny issue of introducing a national minimum wage.

Cyprus authorities on Monday announced a new categorization of countries to be put in effect on November 25th. France is moved to red category from orange.

The first antiviral pill for COVID-19 is expected in Cyprus in the second half of December, according to deputy head of pharmaceutical services Elena Panagiotopoulou.  The pill will be used for mild to moderate cases of the disease.

A scheme involving €1 billion in state-guaranteed loans to businesses came into effect Friday following its publication in the official government gazette.

Cyprus has redefined its tourism offering to satisfy a changing market, deputy tourist minister Savvas Perdios told British tour operators as he struck an upbeat note for 2022.

Cyprus’ economy is recovering at a swifter rate than previously thought, with real GDP on track to reach pre-pandemic levels by the fourth quarter of this year, credit ratings agency DBRS Morningstar said on Thursday.

Standard and Poor’s revised the country’s largest lender Bank of Cyprus’ outlook to positive from stable, following a new NPL transaction titled Helix 3, reducing its non-performing loans ratio to single digits, for the first time since 2013.