Despite the global slowdown caused by COVID-19, the renewable energy sector is expected to bounce back quickly as the long-term drivers for investment remain strong, according to the 55th EY Renewable Energy Country Attractiveness Index (RECAI). The latest index considers the potential impact of the pandemic, looking at the resiliency of countries in both health and economic terms.

EuroAsia Interconnector, the Cyprus-Greece subsea electricity cable, got the go-ahead this week when energy ministers of both countries co-signed the project’s application for grants from the ‘Connecting Europe Facility’ (CEF), the EU’s energy infrastructure fund.

On 21st- 22nd May over 450 delegates from more than 20 countries gathered in Kiev, Ukraine for the INTAX FORUM Ukraine international conference to discuss various topics in the spheres of corporate finance, individual and corporate structuring, local and international taxation, investments, and transborder trading.

Cypriot aviation scored a big win this week after Wizz Air said it would turn Larnaca airport into a base, as the island is trying to restore connectivity and the airline industry going through a hygiene makeover.

For the second time within a week, nο new coronavirus cases were announced by the health ministry on Wednesday, with the total remaining at 939.

Five companies have submitted bids for the traffic camera contract ranging from €26.99 million to €36.35 million, the Transport Ministry said on Monday.

Suspended credit facilities at the request of borrowers on May 8 amounted to €1.19 billion from €894 million on April 24, according to data released Monday by the Central Bank of Cyprus (CBC).

Despite the outbreak of the novel coronavirus at the end of February, and the subsequent lockdown, the Bank of Cyprus showed total Income of €145 million, and operating profit of €52 million for the first quarter 2020.

Cyprus hopes to regain lost ground in its tourism sector from July and expects to be able to re-admit British and Russian visitors by then after weeks of lockdown.

Budget airline Ryanair said Tuesday it will start operating flights to and from Cyprus from July 1.