Coronavirus-affected economies across Europe could contract on average by 3.5% this year with a rebound of 4.8% possible in 2021, according to a European Bank for Reconstruction and Development report.

Cyprus' Deputy Tourism Minister Savvas Perdios said on Wednesday that 55% of the actions planned for 2020 in the sector of tourism has been completed.

The two new studies entitled "Restart Cyprus" and "COVID-19: Impact of the pandemic on the Cyprus Economy" were released today

Cabinet has approved €1 million in compensation for Cyprus Airways for losses sustained because Turkey prohibits Cyprus-registered airplanes from using its airspace, thereby making flights longer and more expensive.

Two new coronavirus cases and one more death were announced by the health ministry on Tuesday, bringing the total number of cases to 903.

In 2018, 26.6% of people in Cyprus lived in flats — below the EU 27 average of 46%, according to figures published by Eurostat on Wednesday.

EY Cyprus held a webcast on Tuesday, May 12th, titled Beyond COVID-19: Business Transformation Accelerated, which was attended by executives from over 100 businesses based in Cyprus. The webcast addressed the need for organisations to accelerate Business Transformation, as a result of the COVID-19 pandemic, in order to get aligned with the altered customer behaviour, the need for cost optimisation and the reformed workplace experience. The webcast was presented by professionals of EY Cyprus with expertise in the business transformation process.

The COVID-19 crisis is being defined by four distinct consumer behavior segments, according to the first edition of the EY Future Consumer Index, a survey of 4,859 people tracking consumer sentiment and behavior across the US, Canada, the UK, France and Germany . These are “Cut deep”, “Stay calm, carry on”, “Save and stockpile” and “Hibernate and spend”.

Cyprus is preparing to reopen the country’s airports in mid-June but under certain conditions for entry, said Transport Minister Yiannis Karousos.

The government on Monday extended a flight ban until May 28 as part of measures to stop the spread of the coronavirus on the island.