Moody’s Investors Service has placed RCB Bank’s long-term ratings on review for downgrade, including its long-term deposit ratings, citing “higher credit risk associated with its Russian corporate exposures” on the backdrop of sanctions imposed on Moscow for invading Ukraine.

Standard and Poor’s rating agency downgraded RCB bank’s long-term issuer credit rating to B+ from BB- over the impact of its previous major shareholder, the Russian VTB, pulling out of the bank to shield its assets from Russia sanctions.

Although Cyprus recorded the largest annual increase in the ratio of government expenditure devoted to health to GDP among EU states in 2020, it still lags behind the EU27 average, according to figures released by Eurostat on Friday.

Finance Minister Constantinos Petrides said today that he is concerned about the rising prices of grain and energy and the possibility of 'stagflation', but excluded the possibility of the Cypriot economy slipping into recession.

The Convention between the Republic of Cyprus and the Hashemite Kingdom of Jordan for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income (known as the Double Tax Treaty (DTT) between Cyprus and Jordan) was signed on 17 December 2021 and published in the Official Gazette of the Republic of Cyprus on 31 December 2021.

Molnupiravir, the antiviral medication for COVID, has been administered to almost one thousand patients in Cyprus, according to Deputy Head of pharmaceutical services Elena Panagiotopoulou.

Cyprus is braced to lose revenue from Russian and Ukrainian tourists, as the economy is expected to lose around 2% of its GDP due to the Ukraine conflict.

The government posted a higher fiscal surplus this January compared to the same month last year, preliminary data show.

The European Commission approved 225 reform projects that will be supported under the Technical Support Instrument (TSI), Commissioner for Cohesion and Reforms, Elisa Ferreira has announced.

Greek language and culture are part of the “innovative” teaching programme of the afternoon school in gymnasiums, Education Minister Prodromos Prodromou said Thursday.