Agriculture Minister Costas Kadis on Friday unveiled additional grants of close to €4 million to shore up agricultural producers facing flagging demand as the coronavirus pandemic continues to buffet the tourism sector.

A night-time curfew until November 30 imposed by authorities to flatten the second wave of coronavirus could see hundreds of restaurants and bars facing closure, after surviving lockdown in March.

The Republic of Cyprus downgraded eight countries in its three-tier risk-based classification system and upgraded one, with the updated list coming into effect on November 9.

Cyprus’ coronavirus experts presented the data behind the pandemic’s recent flare-up in a news conference on Friday.

The government will implement actions to support traditional businesses in the mountain areas, the minister of energy, commerce and industry Natasa Pilides said on Thursday.

Brexit is giving a boost to the Cyprus fund industry, as Brexit effectively cuts off UK-based fund managers from the EU, says the President of the Cyprus Investment Funds Association Andreas Yiasemides.

Minister of Labour, Welfare and Social Insurance Zeta Emilianidou announced Thursday new measures to support businesses, employees and the unemployed, following the imposition of new restrictive measures by Cyprus Government to curb the spread of COVID-19 disease.

The European Commission announced today that it has approved “the modification of the two operational programmes (OP) for Cyprus, which will release more than €57 million to help address the effects of the coronavirus pandemic on the country`s economy and health system”.

Cyprus’ pandemic-struck economy is expected to contract by 6.2% GDP in 2020, rebound 3.7% in 2021 and 3% the year after, said the European Commission autumn economic forecast.

Cyprus' Deputy Ministry of Research, Innovation and Digital Policy is looking towards a two-speed plan, separating the aim for digital transformation into small high-speed and longer-orientated projects, in order to ensure effectiveness, Deputy Minister Kyriacos Kokkinos said on Thursday.