EU Finance Ministers have approved Cyprus’ €1.2 billion Recovery and Resilience Plan to exit the pandemic during a scheduled videoconference on Monday.

Health Minister Michalis Hadjipantela says while government planning includes preparations for a third jab for vaccinated adults and seniors, the booster shot is subject to approval in Brussels.

Yiannis Karousos, Minister of Transport, Communication and Works presented a general policy framework aiming at boosting electric vehicle (EV) registration to 25% of new registration by 2030, in a bid to reduce Cyprus’ carbon footprint.

Cyprus and Lebanon signed an MoU agreement for cooperation in the oil and gas sector on Friday during a visit by the neighbouring country’s Defence Minister and Deputy Prime Minister, Zeina Akar.

Ayia Napa mayor Christos Zannetos have taken an advance dive into the coastal town’s underwater sculpture museum, ahead of its official opening later this month.

Cyprus’ film industry was pitched to major stakeholders with a double showing at the prestigious Cannes Film Festival of two Cypriot productions with a Hollywood flavour.

Paphos is the seventh cheapest holiday destination in Europe for British travellers, according to the latest British Post Office Travel Money survey.

Non-performing exposures (NPEs) rose slightly in April pushed upwards by increased restructuring, according to Central Bank data released on Saturday.

Rating Agency Moody’s has upgraded Cyprus’ long term credit rating by one notch to Ba1 assigning stable outlook, citing reduced exposure to event risks because of a decrease in banking sector risks, the resilience of the economy during the Covid pandemic as well as robust medium-term GDP growth prospects being supported by sizeable European funds.

Third Point Hellenic Recovery Fund L.P. is selling its 12.6% stake in Hellenic Bank to Athens-based Eurobank SA for an estimated €41.6 million, ending fund manager Daniel Loeb’s unproductive venture into the Cyprus market.