Cyprus economic growth is expected to decelerate in 2020, with real GDP dropping from 4.1% in 2018 and 3.4% in 2019 to 2.8%, due to faltering confidence, risks related to bad loans and rising state payrolls, the University of Cyprus Economics Research Centre forecasts.

The Transport Ministry has launched a scrappage incentive scheme to encourage Cypriot motorists to replace their old high-emission bangers with new eco-friendly cars, preferably electric ones.

President Nicos Anastasiades on Tuesday gave instructions for an info centre from where the public can learn about the government’s housing policy and who can benefit from it to be set up.

Turnover Volume Index of Retail Trade in Cyprus has marked an increase in a monthly and annual basis, according to the official Statistical Service.

Cyprus has become a member of the international Mars Society, which seeks to promote the exploration and colonization of the planet.

The island’s two largest lenders, Bank of Cyprus and Hellenic Bank, actively pursuing sales of €4 billion of bad loans would improve their asset quality metrics, accelerating the derisking of their balance sheets, a credit positive, said Moody’s.

The Cabinet on Monday approved a proposal by the health minister for the extension of overtime work in state hospitals until the end of May to reduce patient waiting lists in some specialties.

The cabinet approved a national strategy for Artificial Intelligence (AI), the Communications Minister Yiannis Karousos announced on Monday.

A procedure will be followed at Cyprus airports to identify travellers coming from China or those who have travelled to China in the last two weeks in order to deal with any cases of coronavirus.

Larnaca will see its fair share of new developments with several luxury high-rise building projects, hotels and a shopping mall being built by local and foreign investors.