Non-performing loans (NPLs) in the Cypriot banking system declined to €8.97 billion in the end of 2019, with the NPL rate amounting to 27.9% of total loans.According to data released by the Central Bank of Cyprus (CBC) NPLs in end-December 2019 marked a reduction of €561 million compared...
No COVID-19 cases were confirmed on Wednesday in Cyprus from a total of 2.640 tests, the authorities announced. Therefore the total number of confirmed cases remains at 939.A press release issued by the Health Ministry said that 539 tests were carried out in the framework of the programme for...
Cyprus government has sent to its tourism partners abroad a letter concerning the protocols that will allow the country to safely re-open for tourists and avoid the need for quarantining of visitors, signed by Foreign Minister Nikos Chirstodoulides, Minister of Transport Yiannis Karousos and Deputy...
Kyriakos Kokkinos, Deputy Minister of Research, Innovation and Digital Policy, has spoken to CNA about the advantages and disadvantages of telework, noting that implementing it in Cyprus is possible, as long as it is the result of social dialogue, preparation and a change of culture.In an interview...
The new financial stimulus package, to be unveiled on Wednesday in response to the impact of the pandemic on the economy, is in line with the government’s capacity and is compatible with the European framework, Deputy Government Spokesman Panayiotis Sentonas said, ahead of a Cabinet meeting,...
Two more people were found positive to COVID-19 in Cyprus, after conducting 2,214 laboratory tests, authorities announced on Tuesday. The total number of cases in Cyprus since the beginning of the pandemic rose to 939. Both cases were detected after conducting 125 tests following referrals from...
Police checked 657 establishments island wide as part of the country’s measures against COVID-19 in the last 12 hours, reporting no violations.A Police spokesman told CNA that 211 checks were carried out in Nicosia, 169 in Larnaca, 56 in Paphos, 135 in Famagusta and 86 in Morphou.
Suspended credit facilities at the request of borrowers on May 8 amounted to €1.19 billion from €894 million on April 24, according to data released Monday by the Central Bank of Cyprus (CBC).Under the emergency measures announced by Government to control the spread of COVID-19 in Cyprus...
The coronavirus outbreak is first and foremost a health crisis, presenting an unprecedented external economic shock, Bank of Cyprus’ Chief Executive Officer Panicos Nicolaou said, with the Bank’s chairman Takis Arapoglu noting that the Covid-19 would slow the bank’s progress in...
Cyprus has extended a flight ban in place to contain the COVID-19 pandemic until June 8.In a press release, the Ministry of Transport, Communications and Works announces that a new decree has been published extending the flight ban for another 11 days from May 29, 2020.
Volkswagen AG (VOWG_p.DE) is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German automaker accelerates its push into the world’s largest market for environmentally friendlier cars.Πηγή: Reuters
HSBC’s board is set to deepen the biggest restructuring in the bank’s 155-year history after deciding that the coronavirus crisis requires more drastic measures.Πηγή: Financial Times
The number of confirmed coronavirus cases in Germany increased by 289 to 178,570, data from the Robert Koch Institute (RKI) for infectious diseases showed on Monday.Πηγή: Reuters
Tax revenues of the German government and the 16 federal states declined by 23.5% in April from a year earlier to around 39 billion euros ($43 billion) due to the coronavirus pandemic, the finance ministry’s monthly report showed on Friday.Πηγή: Reuters
Time is running out to finalise a track and trace strategy that would avoid a potential second surge in coronavirus cases, NHS leaders have said.Πηγή: BBC
Expectations for second- and third-quarter corporate profits are deteriorating further in Europe, despite a gradual easing across the continent of lockdowns aimed at curbing the coronavirus pandemic, Refinitiv data showed on Wednesday.Πηγή: Reuters
German Chancellor Angela Merkel and French President Emmanuel Macron agreed to support a 500 billion-euro ($546 billion) aid package to help the European Union recover from the coronavirus pandemic in a major step toward tighter integration.Πηγή: Bloomberg
As Italy’s already massive public debt soars further due to the coronavirus crisis, its authorities are calling on ordinary citizens to help fund recovery efforts. The plan could aid immediate financing needs but will do little to allay eventual default risks.Πηγή: Reuters
The French pharmaceutical giant Sanofi has rowed back on an apparent promise to prioritise the US market with any potential Covid-19 vaccine.Πηγή: BBC
A gradual lifting of borders has been proposed by the EU's executive in an attempt to kick-start a tourist industry hit hard by the coronavirus pandemic.Πηγή: BBC
The safe comeback of tourism flows in Greece and economic recovery from the coronavirus pandemic were the focal point of Prime Minister Kyriakos Mitsotakis' Tuesday interview in the German newspaper Bild.Πηγή: The National Herald
Greece is now reopening to welcome the first big wave of tourists after its successful handling of the Covid-19 pandemic, Alternate Foreign Minister Miltiadis Varvitsiotis told BBC News TV on Monday.Πηγή: The National Herald
Two months after a lockdown was imposed to prevent the spread of the COVID-19 Coronavirus, a further gradual lifting of restrictions on May 25 will see the opening of bars, restaurants, taverns and travel to and from Greece's islands.Πηγή: The National Herald
"We will not let companies, such as Aegean Airlines, without help," stated Development and Investments Minister Adonis Georgiadis at a press conference on Thursday, during which there was a presentation of the financing tools for the support of the economy.Πηγή: The National Herald
Greek Finance Minister Christos Staikouras on Wednesday presented a new package of "15 policies" to be implemented from June until October 30 in the framework of the third phase of a plan for economic recovery.Πηγή: The National Herald
Eurobank on Tuesday presented a comprehensive plan to support Greek tourism, worth 750 million euros, focused on hotels. Presenting the plan, during an online news conference, Eurobank's CEO Fokion Karavias said the bank was standing by tourism and enterprises in the sector not only on sunny...
The Greek general government budget recorded a deficit of 6.014 billion euros in the January-April 2020 on a cash basis, after a deficit of 1.138 billion in the corresponding period in 2019, the Bank of Greece said on Monday.Πηγή: The National Herald
"There is no thought, no plan, for reduction of salaries or pensions," Finance Minister Christos Staikouras said on Sunday in an interview with SKAI TV. He also said that there were tax interventions in the government's plans, such as the reduction of VAT on restaurants and referred...
Greece was two weeks ahead of most European countries in decisive action to fight the coming Covid-19 pandemic, Prime Minister Kyriakos Mitsotakis said on Thursday, in a key address at a teleconference by the Athens office of the Boston Consulting Group (BCG).Πηγή: The National Herald
Greek tourism leaders welcomed the European Commission's announcements and recommendations on restarting tourism in Europe on Wednesday, and said they confirmed the importance of tourism in country economies.Πηγή: The National Herald
The New York Stock Exchange has partially reopened its famous Wall Street trading floor, with around a quarter of brokers returning after a two-month shutdown caused by the coronavirus crisis.Πηγή: Financial Times
China’s banking and insurance regulator said on Tuesday that bad loans at banks now stand at a high level due to the impact of the coronavirus pandemic.Πηγή: Reuters
As sections of the global economy tip-toe toward reopening, it’s becoming clearer that a full recovery from the worst slump since the 1930s will be impossible until a vaccine or treatment is found for the deadly coronavirus.Πηγή: Bloomberg
China will not set an economic growth goal for this year as it deals with the fallout from the coronavirus pandemic.Πηγή: BBC
Australian banks’ will see a fall in their capital buffers over the year ahead due to likely loan losses as hundreds of thousands lose their jobs due to the COVID-19 pandemic, the head of the prudential regulator said on Thursday.Πηγή: Reuters
President Donald Trump has argued it is "a badge of honour" that the US has the world's highest number of confirmed Covid-19 infections.Πηγή: BBC
U.S. President Donald Trump threatened on Monday to permanently halt funding for the World Health Organization (WHO) if it did not commit to improvements within 30 days, and to reconsider the membership of the United States in the body.Πηγή: Reuters
Federal Reserve chair Jay Powell has warned that a full US economic recovery may take until the end of next year and require the development of a Covid-19 vaccine.Πηγή: Financial Times
The need to restart production lines and reopen offices idled by the coronavirus pandemic mean issues such as sick pay and working conditions are suddenly a top priority for the C-suite and, for some investors, a golden opportunity to apply the principles of ethical investing.Πηγή: Reuters
As part of an unprecedented stimulus endeavor, the Fed announced it would support the ETF market in March, and on Tuesday launched the backstop.Πηγή: Reuters