Cyprus Minister of Finance Constantinos Petrides told the Cyprus News Agency that the government will begin reducing public debt, increased due to strategic cash reserves, once the pandemic begins to normalise.

Invest Cyprus, as the governmental authority dedicated to attracting and facilitating foreign direct investments in Cyprus, has introduced an one-stop shop for  investors to support the creation of a broad and attractive “Project Bank” inclusive of high value investment projects that align with key government strategies in sectors such as healthcare, tourism & hospitality, renewable energy and other commercial projects.

The House finance committee on Monday discussed two bills extending tax breaks to landlords who rent to businesses stricken by the coronavirus crisis, which aim at convincing them to voluntarily reduce their charges inside the first half of the year.

The deal signed between Israel and Cyprus on Sunday to allow Israelis and Cypriots who have been inoculated against Covid-19 to travel between the two countries without having to quarantine is “a big achievement”.

Some 40% of Cyprus’ 900,000 population has undergone a rapid coronavirus test since the beginning of February, according to the health ministry.

The local epidemiological situation, and particularly the deteriorating conditions marking the Limassol district, were at the centre of discussions between the health minister Constantinos Ioannou, the government’s health advisory committee, and the contact tracing team on Monday.

It is with profound sadness that EY Cyprus announces the passing of its Country Managing Partner, David Barker. The thoughts of the entire EY family are with David’s family and friends, and we extend our deepest sympathies to them.

In light of the end of the transition period for the UK’s Withdrawal Agreement from the EU, the Tax Department of the Republic of Cyprus has made the following announcements in relation to movement of goods between Cyprus and the UK and VAT refunds:

The American University of Cyprus (AUCY) will open its doors in Larnaca in September 2021, and its second campus, in Ayia Napa, still under construction will begin welcoming students in the near future.

A further drop of €17 million was recorded in total non-performing loans in October 2020 compared to the end of September 2020.