Fitch ratings agency has downgraded Hellenic Bank’s long-term Issuer default rating (IDR) to ‘B’ from ‘B+’ and Viability Rating (VR) to ‘b’ from ‘b+’ and placed them both on rating watch negative (RWN). At the same time, Fitch has placed Bank of Cyprus long-term IDR of ‘B-‘ and VR of ‘b-‘ on RWN.

State support for businesses and employees has been extended until June 12 and if necessary for a further four months beyond that, the government announced on Wednesday.

EY Cyprus announces the operation of the EY Academy of Learning & Development, a new learning hub aimed at developing better professionals and enhancing the capacity of organisations, teams and individuals by improving their knowledge, skills and culture.

Cyprus raised €1.75 billion through a seven-year and 30-year bond issuance on Tuesday, boosting liquidity as it seeks to buffer the fallout out of the coronavirus crisis.

Cyprus and Israel secured another five tons of chloroquine as part of efforts to meet the needs of patients in both countries during the coronavirus crisis, it was announced on Tuesday.

Twenty-nine more people tested positive for coronavirus on Tuesday, the health ministry said, bringing the total number of cases to 494, as strict measures on movement continued to be in place.

Twenty Cypriot Covid-19 patients have been included in a global clinical trial of Japanese antiviral influenza drug Avigan (favipiravir), the health ministry said on Tuesday.

Fitch rating agency maintains Cyprus’s long-term credit rating to BBB- changing the outlook from positive to stable. According to the Ministry of Finance, the agency highlighted the government’s responsible management both of the economy and the public finances under the present conditions due to the coronavirus pandemic.

Profile Software, a leading financial solutions provider, announced today that 7Q Financial Services, a Nicosia-based Investment Firm, specialising in asset management, went live with Axia Wealth & Fund Management solution, to comprehensively address its fund management requirements and support its investment activities in the most automated manner.

Cyprus announced its intention to proceed with the issuance of 7-year and a 30-year euro-denominated bonds in a bid to strengthen its cash reserves amid the crisis caused by the coronavirus pandemic.