Murex, one of the most important financial software producers in Europe, will soon open offices in Cyprus, according to tech industry sources. The company is planning a move to Nicosia.

With Cyprus ready to open for tourists and do away with quarantine for Covid safe countries from 1 April, the government said it provided stability for tour operators and airlines to bring more visitors this summer.

The government aims to help the economic sectors stricken by the pandemic but also to invest in alternative areas with emphasis on the relocation of companies to Cyprus, research and innovation, among others, through tax and other incentives, President Nicos Anastasiades said on Wednesday.

The European Commission has approved two Cypriot schemes to support companies and self-employed who were forced to suspend their activities due to the restrictive measures imposed by the government to curb the outbreak of the pandemic.

Applications opened on Tuesday for a scheme that will cover up to 60% of upgrades to make homes more energy efficient.

An American company has put words into action in the middle of global 5G wars, with Phoenix Tower International and Monaco Telecom announcing an agreement that includes acquiring newly constructed wireless towers across Malta and Cyprus.

Cyprus, Israel and Greece signed on Monday a Memorandum of Understanding taking another step towards connecting the electricity grids via the EuroAsia Interconnector, a 1,208-kilometre 2,000 MW capacity subsea HVDC cable.

Cyprus GDP grew by 1.4% in the last quarter of the coronavirus-struck year of 2020, compared with the previous quarter, while the rest of the European Union recorded a decrease of 0.5%, according to Eurostat.

Finance Minister Constantinos Petrides pledges the government will continue to support coronavirus-stricken economic activity to reduce high unemployment and fix stressed public finances.

Construction activity declined in 2020 for the first time in five years, building permits dropped in the area covered and value, as the industry felt the effects of the disgraced “golden passports” scheme plus the pandemic.