Paphos has won another European award, the local tourism board has announced.

Total assets of Cyprus residents stood at €684.57 billion against higher total liabilities of €711.78 billion at the end of September, Central Bank data shows.

Real GDP growth in Cyprus is projected at -5.7% in 2020 as a result of the coronavirus pandemic, according to the Economic Outlook issued on Monday by the Economics Research Centre of the University of Cyprus.

The European Commission announced today that it has approved a €10.2 million Cypriot scheme to support self-employed and enterprises affected by the coronavirus outbreak.

The government on Monday unveiled a series of upcoming schemes aimed at supporting businesses and helping them transition to the circular economy, with planned government disbursements of some €90 million for 2021.

Over 43,000 beneficiaries of the national health scheme (Gesy) have received inpatient care since its launch, the health insurance organisation (HIO) told the health minister in a conference call on Monday.

A major weapon in the government’s battle against a renewed flare-up of the virus as lockdown measures are steadily lifted are rapid tests, with employees who are set to return to work next week subject to a €300 fine if they haven’t gotten checked for the virus.

The House plenum on Friday ratified the East Mediterranean Gas Forum (EMGF) statute which is crucial for the geopolitical role of Cyprus in the region. As well as for the exploitation of the Eastern Mediterranean’s exploitation of natural gas resources.

Vassilis Demetriades, Cyprus Shipping Deputy Minister said he will begin contacts to reassess the situation after a tender for sea passenger line, linking Cyprus and Greece, aided by state subsidies, failed to attract binding offers.

Fitch Ratings has affirmed Bank of Cyprus Public Company Limited`s (BoC) Long-Term Issuer Default Rating (IDR) at `B-' and Viability Rating (VR) at `b-' with a negative outlook.