The new Minister of Energy, Commerce and Industry Natasa Pilides and Deputy Minister to the President for Shipping Vassilis Demtriades were sworn in on Tuesday.

The Republic of Cyprus raised on Tuesday €1 billion in a double -European bond issue through the reopening of existing bonds maturing on 3 December 2024 and 21 January 2040, with the total demand exceeding ten times the minimum amount announced.

The European Commission’s summer economic forecast expects significant risks to the Cyprus economy as a result of the coronavirus pandemic’s impact on the tourism sector, which is predicted to see just 25% of last year’s revenues and high unemployment.

Profile Software, a leading financial solutions provider, announced today a new partnership in the United Kingdom with Forte Securities, a London-based Prime Broker looking for a platform that would streamline their investment management and custody operations.

Lawmakers on Monday committed to fast-tracking the bills and regulations aimed at improving the transparency of the citizenship-by-investment programme, so that the items can be voted on before the House breaks for the summer recess in late July.

A self-imposed moratorium on gas drills to boost peace talks or succumb to threats by Turkey would signal the end of Cyprus’ energy prospects, warned outgoing Energy Minister George Lakkotrypis.

Cyprus’ outgoing Deputy Shipping Minister Natasa Pilides said on Monday that the goal to establish a ferry connection between Cyprus and Greece is moving forward, noting that following consultations which began a year ago, the EU Competition Directorate-General has approved a state subsidy for the project valued of at a maximum of €6 million per year.

Parliament unanimously passed the third supplementary budget for 2020, worth just over €231 million on Friday.

A new date for opening flights to incoming passengers from Britain has been tentatively set for August 1 in the Republic of Cyprus, with health officials warning that the decision is conditional on the United Kingdom keeping a firm grip on containing the virus.

Eighteen flights were scheduled at Paphos Airport today, ten arriving from European destinations, including Dublin, Stansted, Bucharest (2), Budapest, Riga, Bournemouth, Bratislava, Mykonos and Thessaloniki.