Cyprus’ GDP is projected to contract by 6.5% this year as a result of measures and policies being taken worldwide to contain the Covid-19 pandemic, the International Monetary Fund (IMF) has said in its latest World Economic Outlook.

Thirty-three new cases of coronavirus were announced by the health ministry on Tuesday, bringing the total to 695.

The deputy ministry of tourism has drawn up a flexible emergency action plan for the year 2020, which can be implemented depending on the developments regarding coronavirus it said on Tuesday.

Section 213 of Cyprus Companies Laws CAP. 113 (“CAP. 113”), provides about the persons who have locus standing to petition the winding up of a company and provides inter alia for “…..the creditor or creditors including any contingent or prospective creditors ………..”.

Experts have detailed the rough outlines of an “exit plan” from the lockdown and said the beginning stages could start in about a month.

A further death and 29 new cases of Covid-19 were announced on Monday.

After years of delays, some vital government services have been transformed within weeks.

The rapid development over recent years of the forex industry in Cyprus appears to be beneficial for the island’s whole economy since the coronavirus epidemic little affects its operations, Phileleftheros reports.

Cyprus health authorities reported one more death from coronavirus on Sunday and 17 new confirmed cases, stressing there is a downward trend but urged people to stay home.

ExxonMobil's crucial drilling plans to confirm a large gas deposit south of Cyprus have been put on hold, with a local media report citing delays due to the coronavirus pandemic.