Fitch rating agency affirmed Cyprus’ long-term sovereign rating at “BBB-” with a stable outlook, citing high sovereign debt and a weak banking sector as the main challenges facing the island’s economy.

The Commission’s Quality Committee on Friday put its eagerly-awaited stamp of approval on Cyprus’ request for registering halloumi/hellim as a product of Protected Designation of Origin (PDO).

The upward trend in Cyprus’ weekly coronavirus positivity rate for appears to have come to a halt, but remains at relatively high levels, an updated national surveillance report covering the period up to March 23 showed.

The European Commission has approved a €20 million Cypriot scheme to support small and medium-sized enterprises (SMEs) affected by the pandemic, it announced on Thursday.

The value of total Assets Under Management with Cyprus funds reached €8.58 billion in the 4th quarter of 2020, a 10.3% increase from the third quarter of that year. Assets under management also increased 3.8 % from the same period in the previous year, according to the latest Quarterly Statistics bulletin published by the Cyprus Securities and Exchange Commission (CySEC).

Royal Caribbean International announced on Thursday that all-new 7-night cruises will be departing from from Limassol, starting July 10.

Cyprus is gearing up to welcome back tourists in May, amid concerns over loss of traffic from the UK where officials said that Britons may not be allowed to travel abroad this summer.

The vaccination centre operating at the Cyprus State Fair venue, in Nicosia, serves 1,400 citizens every day, state healthcare professional, Maria Roka, has said, adding that 30-35 healthcare workers are currently employed there.

By June, over 60% of Cyprus’ adult population wishing to the coronavirus jab will be vaccinated, the deputy head of the state health services Dr Olga Kalakouta said.

This note seeks to provide an overview of some of the key recent developments in the area of competition law with regards to the challenges brought about by the Covid-19 pandemic (“the pandemic”) and the disruption induced by digitalization and online marketplaces.