Vaccinations have turned into the main economic tool for the management of the coronavirus crisis and the prospects for recovery, Minister of Finance Constantinos Petrides said, stating that he foresees a strong recovery in 2021 ranging from 3.5% to 4.5% of GDP, depending on the development of the pandemic.

The House Finance Corporation announced a scheme on Wednesday aimed at helping households which are finding it difficult to repay their loan.

The IMO chief has described Cyprus as one of the most successful shipping states with a significant contribution to global shipping, according to Shipping Deputy Minister Vassilios Demetriades.

Following the government’s decision that gymnasium and lyceum students must carry a negative Covid-19 rapid test to be allowed back into class, the Health Ministry will send mobile testing units to schools.

Deputy Tourism Minister Savvas Perdios announced on Wednesday that the Cabinet had approved a special grant scheme of the order of €420,000 in support of restaurants offering Cypriot cuisine, in a bid to help improve the image of traditional local gastronomy.

Europe’s largest Integrated Casino Resort (ICR) will open more than six months behind schedule; in the summer of 2022, the principal shareholders of Limassol’s City of Dreams Mediterranean announced on Wednesday.

Despite the uncertainty of 2020, IPO investors enjoyed a prosperous year as IPO activity proved resilient to the impact of the COVID-19 pandemic supported by low interest rates and expansionary monetary policies. Global IPO volumes continued to accelerate, increasing by 19% to 1,363, while proceeds increased 29% year-on-year to a total of US$268b. This strong IPO performance indicates global equity markets continue to provide the platform for companies with access to public capital.

Stelios Americanos & Co LLC has joined Dentons New York in assisting Zubr Capital and the European Bank for Reconstruction and Development (EBRD) in a multimillion transaction in relation with their exit from the investment in Enterprise Agile Planning company Targetprocess, following its purchase by Apptio, a leading provider of technology business management solutions.

The market for Cyprus office real estate is forecast to fall 10% to 15% in aggregate office demand this year, reports Wire-FS, an independent real estate asset management and advisory firm active across Cyprus and Greece on Tuesday.

Unemployment in Cyprus in 2020 rose to 7.6% of the labour force compared with 7.1% the year before, pushed upwards by the fallout of the coronavirus pandemic on the labour market.