Fuel sales returned to a recovery path in May when the easing of lockdown measures began in Cyprus.

European Bank for Reconstruction and Development (EBRD) gave the green light for €80 million funding to the Natural Gas Infrastructure Company of Cyprus (ETYFA). The Loan Facility will be covering the construction of the Liquefied Natural Gas (LNG) Import Terminal in Cyprus. The financing is of a 20-year duration.

A tenders bid concerning a study aimed at increasing sustainable tourism to the areas of Polis Chrysochous and Tillyria and creating a tourist identity has been launched.

Cypriot authorities dropped Bulgaria to category B, that includes countries of low-risk but relatively more concern in terms of coronavirus compared to those in the first category.

The Environmental Authority has given the green light for the development of a multi-purpose urban park in Ayia Napa at a cost of €2.4 million that will include a botanical garden and a mosaics park, Phileleftheros reports.

President Nicos Anastasiades has increased his women ministers in a mini-cabinet reshuffle after appointing lawyer Emily Yiolitis as the new Justice Minister, Natasa Pilides takes over the key Energy Ministry.

Wizz Air, Europe’s fastest-growing airline announced Wednesday the allocation of a third aircraft to its Larnaca base allowing it to offer 36 destinations from Cyprus.

“We expect to allow British tourists to come to Cyprus as of July 15,” Cyprus Deputy Tourism Minister Savvas Perdios told the British newspaper Sun Online on Wednesday.

The government on Tuesday temporarily reduced VAT charges to five per cent from nine per cent for hotels, restaurants and taxi transport. The move is intended to support the tourism industry with a boost in revenues – the reduction is not likely to be passed on to the customer.

Nearly seven in ten (65%) companies say they lack a sustainable data and technology plan to implement their tax and finance function’s purpose and vision. Companies also face a challenging environment characterized by unprecedented legislative and regulatory change, significant talent challenges and the need to do more with less, only magnified by the impact of COVID-19. This is according to a new EY Tax and Finance Operate report that surveyed 1,013 organizations globally.