October 26, 2020 15:41 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Supreme Court suspends one-man committee to monitor stubble burning | SC stays contempt action against Ramesh Pokhriyal Nishank for not paying bungalow rent dues | Maharashtra Deputy CM Ajit Pawar tests Covid-19 positive | India registers 480 new COVID-19 deaths, 45,149 new cases | India wants peace along border: Rajnath Singh after 'Shastra Puja'

EU needs roughly $1.6 trillion to overcome COVID-19 crisis – Economic Commissioner

Moscow/Sputnik: Tackling the implications of the coronavirus epidemic will likely cost the European Union an approximate 1.5 trillion euros ($1.6 trillion), EU Commissioner for Economy Paolo Gentiloni said in an interview with Germany's Spiegel on Monday.

Business prospects for Cyprus resident

The Republic of Cyprus is placed on the island of the same name in the Mediterranean. It’s a British colony in the past and is currently a participant of the European Union. Tourists, nearly 2 million visitors per year, are the main sphere of profit for locals. Therefore, the country's budget is highly dependent on the service section, which is equivalent to 4/5 of GDP. Besides, Cyprus is an exporter of fruits, clothing, and medications. The local fleet of vessels is the fourth major worldwide and also brings great profits.