Nicosia, Cyprus. Cyprus recorded €16.5 billion in offers for a €1 billion 10-year government bond issued on January 21, according to Finance Minister Makis Keravnos and data from the Public Debt Management Office. The government also issued guidance on hybrid working across the public sector, effective April 2.
Record demand for 10-year bond
In statements made on Thursday, Keravnos described the level of demand as a historic milestone, saying the Republic of Cyprus sought €1 billion and received offers of €16.5 billion.
He said it was the first time there had been such strong appetite to invest in a bond of the Republic of Cyprus.
Keravnos said the issuance carried an interest rate of 3.25 per cent, which he described as the lowest among all recent sovereign issues.
He referred to recent bond issuances by Greece, Portugal and other countries, saying Cyprus achieved the most favourable pricing.
Hybrid working rules set for public sector
The department of public administration and personnel issued a circular outlining the conditions, procedures and responsibilities governing hybrid working across the public sector, which will take effect from April 2.
The circular details steps to be taken by heads of departments and employees, including eligibility, approval procedures, equipment requirements, supervision, and the circumstances under which working from home may be interrupted.
It follows the issuance of an implementation manual providing technical and operational guidance to services and staff, and is linked to the 2025 law regulating remote work in the public service, which enters into force on April 2 after a council of ministers decision in December.
According to the circular, signed by the department’s director Elena Economidou-Azina, a basic condition for working away from the office is that an employee’s duties, or part of them, can be carried out remotely, taking into account their nature and the technological means required.
How do you think the new hybrid working rules will affect public sector operations from April 2?