Day: April 4, 2022

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Cypriot Minister takes part in EU Culture Ministers meeting which discusses Ukrainian cultural heritage

EU Ministers responsible for cultural affairs adopted conclusions on the strengthening of intercultural exchanges through the mobility of artists and professionals in the fields of culture and creativity, as well as through multilingualism in the digital age, during the first day of the Education, Youth, Culture and Sport Council in Luxembourg.

During the morning meeting, which focused on culture, audiovisual and media issues, conclusions were also adopted on the creation of a European strategy for a cultural and creative industries ecosystem, according to a statement by the Ministry of Education and Culture.

Cyprus is represented in the Council meeting by Minister of Education, Culture, Sports and Youth, Prodromos Prodromou.

Source: Cyprus News Agency

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Commission approves Cypriot scheme to support sectors affected by pandemic

The European Commission has approved a Cypriot scheme for 3 million euros to support companies and the self-employed that had to suspend their activities due to the coronavirus pandemic and restrictive measures, under the State aid Temporary Framework.

The measures, which will take the form of direct grants, will be open to companies and self-employed people active in certain sectors such as nightclubs, organisation of conventions and trade shows, support activities to the performing arts and theatres. The purpose of the new scheme is to address the liquidity needs of beneficiaries and to help them cover part of their operating expenses.

Source: Cyprus News Agency

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Retail trade turnover value significantly up in first two months of this year

Retail trade turnover value was up by a significant 12.2% in the first two months of 2022 on an annual basis, while the volume index also marked an increase of 4.8%.

In particular, according to data released by the Cyprus Statistical Service (CyStat) on Monday, the Turnover Value Index of Retail Trade for February 2022 increased by 6.6% compared to the corresponding month of the previous year.

For the same month, the Turnover Volume Index of Retail Trade decreased by 2,0% compared to the corresponding month of the previous year.

“For the period January-February 2022, the value index is estimated to have recorded an increase of 12.2% and the volume index an increase of 4.8% compared to the same period of 2021,” CyStat said.

Source: Cyprus News Agency

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Petrides takes part in Eurogroup meeting which focuses on impact of Ukraine invasion on euro area

The euro area’s Finance Ministers are discussing economic developments resulting from the Russian military aggression in Ukraine, during their Monday meeting in Luxembourg.

As the Cypriot Ministry of Finance notes in a post on Twitter, Cyprus is represented by Minister of Finance Constantinos Petrides.

According to the agenda as published by the Council of the EU, the euro area’s Finance Ministers will discuss the euro area impact from the war in Ukraine in the short- and medium term, in the context of the Eurogroup’s coordination of economic policies and promotion of the conditions for stronger economic growth.

Source: Cyprus News Agency