Parliament passing a law that established a €1 billion (4% of GDP) loan guarantee scheme is positive for Cypriot banks because it will reduce the credit risk on loans participating in the scheme, said rating agency Moody’s.

Cyprus is offering hassle-free holidays to fully vaccinated individuals from 65 countries from May 10 as it seeks to recoup lost ground from the pandemic.

New support measures to the tune of €120 million to address the effects Cyprus’ third total lockdown on employees and companies were announced by the Finance and Labour Ministers on Wednesday.

The purpose of the current newsletter is to inform about extensions provided by the legislation due to the Covid19 crisis, as well as amendments on the Procedure of the Settlement of Tax Overdue Amounts Law. It also refers to the European Commission Action Plan for Fair and Simple Taxation Supporting the Recovery Strategy.

Limassol is planning to develop a financial district, ‘Wall Street’ by the sea; the long-awaited technology park is to begin development by yearend.

The labour ministry on Tuesday announced the latest relief schemes available for businesses, employees and self-employed persons as a result of the two-week coronavirus-related lockdown running from April 26 to May 9.

Total fuels sales in March 2020 recorded their first annual increase after 13 consecutive months, pushed upwards by sales in petrol stations.

Jiu Jitsu movie, the first Hollywood move that was entirely shot in Cyprus, is very successful and was recently fourth on the list of preference on Netflix.

Cyprus has ramped up its vaccination capacity to 14,000 jabs a day, Health Minister Constantinos Ioannou said Tuesday, as GPs were being recruited to administer jabs at their practices.

Cyprus on Tuesday moved to reduce the timeframe between the first and second doses of the AstraZeneca coronavirus vaccine from 12 to eight weeks.