EY Cyprus held a webcast on Tuesday, May 12th, titled Beyond COVID-19: Business Transformation Accelerated, which was attended by executives from over 100 businesses based in Cyprus. The webcast addressed the need for organisations to accelerate Business Transformation, as a result of the COVID-19 pandemic, in order to get aligned with the altered customer behaviour, the need for cost optimisation and the reformed workplace experience. The webcast was presented by professionals of EY Cyprus with expertise in the business transformation process.

The COVID-19 crisis is being defined by four distinct consumer behavior segments, according to the first edition of the EY Future Consumer Index, a survey of 4,859 people tracking consumer sentiment and behavior across the US, Canada, the UK, France and Germany . These are “Cut deep”, “Stay calm, carry on”, “Save and stockpile” and “Hibernate and spend”.

Cyprus is preparing to reopen the country’s airports in mid-June but under certain conditions for entry, said Transport Minister Yiannis Karousos.

The government on Monday extended a flight ban until May 28 as part of measures to stop the spread of the coronavirus on the island.

Three new cases of coronavirus were announced by the health ministry on Monday, bringing the total to 901.

The University of Cyprus’ Economics Research Centre has projected that the country’s GDP is set to drop by 6.9% in 2020 under a baseline scenario and by 13.1% under an adverse scenario.

Cybarco Development Ltd, a member of the Lanitis Group, resumed construction works at its projects last week, with strict security and hygiene measures in place for the health and safety of its staff. Adhering to the regulations to minimise all potential risks presented by Covid-19 during these unprecedented times, the restart is part of a broader strategy to ease restrictions and restore business for the benefit of the local community and the economy.

One more death was announced on Sunday along with six new coronavirus cases, bringing the total of confirmed cases to 898, including 10 cases at the British Bases. while the total death toll stands at 22, of which 16 are directly attributable to Covid-19.

Final year secondary school pupils are back in school today, two months after schools closed to contain the spread of coronavirus, to prepare for end of year exams on June 9.

The government on Friday signed a memorandum of understanding with commercial banks that would pave the way for the introduction of e-signatures, a catalyst in the state’s long-delayed course towards modernisation and digital transformation.