The Ifo Index for the world economy rose to 99.5 points from 95.9 points last quarter. Both assessments of the current economic situation and the economic outlook improved, according to the Ifo World Economic Survey (WES) for the second quarter 2015. WES experts forecast growth of 2.3% this year as the world economy is slowly
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Turkey must do more to fight corruption and enforce respect for media freedom, free expression and judicial independence, Foreign Affairs Committee MEPs said on Monday. In a resolution on the progress of reform in Turkey in 2014, MEPs also urge the EU to back Turkey’s efforts to build solid, democratic institutions and ensure respect for
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By Jameel Ahmad, Chief Market Analyst at FXTM INDICES AND PBOC After being vulnerable to losses throughout last week as investors appeared to toy with the idea of closing positions, global indices have commenced the week looking more positive. A variety of different factors have combined together to raise investor sentiment, with this including an
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The Conservatives' surprise UK election victory will have no direct impact on the country's sovereign credit rating and the party is committed to further fiscal consolidation, Moody's Investors Service said in a report. However, the credit impact on specific sectors will be more pronounced, the rating agency said, just as Prime Minister David Cameron consolidated
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The trade deficit narrowed in January-February by just over a quarter from a year earlier to €368.6 mln from €510.6 mln, with imports marginally up but exports leaping about 60%, probably due to the re-export of liquid fuels from the Vitol-owned VTTV storage facility in Vassiliko that started work in December 2014. According to the
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Logicom, a leading regional distributor of technology solutions and services listed on the Main Market of the Cyprus Stock Exchange, joined senior executives from the Global Technology Distribution Council (GTDC) to ring the New York Stock Exchange opening bell last Thursday, May 7. Logicom’s Business Development Manager Peter Irinarchos (far left in photo) joined several
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By Jameel Ahmad, Chief Market Analyst at FXTM The USD is currently pressuring its trading partners following the announcement that the United States added 223,000 jobs to its economy during April. The NFP is in line with expectations and although this might not be the spectacular number needed for the USD to get excited, this
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Concluding their week-long visit to Cyprus on Friday, having met Central Bank Governor Chrystalla Georghadji and Finance Ministry technocrats, the heads of the Troika of lenders’ mission to Cyprus are finalising their sixth review of the island’s economic adjustment programme, aka the €10 bln bailout package that includes reforms and ways to keep public spending
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Unemployment dropped by 9% year-on-year in April as the number of registered as out of work decreased by 4,207 from April 2014, the statistical service Cystat said. The figures showed that the unemployed persons, registered at the District Labour Offices on the last day of April, reached 42,551 persons (or 44,285 seasonally adjusted), below this
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Lending rates retreated in March, following the Central Bank of Cyprus decision to lower the base rate by one percentage point in an effort to encourage commercial banks to follow suit and spur money flow in the market and to consumers. Central Bank data showed that the average interest rate on deposits from households with
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