On 10 August 2020, following extensive negotiations, Cyprus and Russia reached an agreement for the amendment of the Agreement for the avoidance of Double Taxation.

Total imports of goods from EU Member States and third countries to Cyprus amounted to €466.2 million in May 2020 as compared to €726.8 million in May 2019, recording a decrease of 35.9%.

Cyprus and Russia have just agreed on an amendment of the double taxation treaty between the two countries, according to Cypriot Finance Minister Constantinos Petrides, cutting short the two-day negotiation agenda initially scheduled.

The Republic of Cyprus’ investment-for-citizenship program proved to be the second most popular scheme of the sorts amid the global pandemic, with new citizenship applications during the first quarter of 2020 marking a 75% increase compared to the same period last year.

Agriculture Minister Costas Kadis said on Friday he expected a joint meeting to be arranged with competent European Commissioners, in order to reach a conclusion regarding the registration of halloumi.

Cyprus recorded a further decrease of €43 million or 0.5% in aggregate Non Performing Loans (NPLs) at the end of March 2020 compared with the end of December 2019.

The US on Thursday lifted its advisory against travelling abroad that was in force for nearly five months, but the US Centers for Disease Control still recommends against non-essential travel to more than 200 destinations, including Cyprus and Greece, due to the high coronavirus risk.

The government of Cyprus pledged €5 million to the emergency aid conference for Lebanon on Sunday, saying that it was making available all its public services, including the use of ports and airports to the United Nations forces operating in the region.

By August 5 banks had received 1,132 duly completed applications for the Estia mortgage relief scheme, of which 220 were rejected by the ministry of labour.

The ministry of education is busy planning ahead in terms of digital technology and distance learning in case they need to implement it in the new school year and there are four possible scenarios depending on the health data that will be available at the end of the month a few days shy of the start of the new school year on September 1 before those in charge of the decision making.