By Hussein Sayed, Chief Market Strategist at FXTM After a brief celebration of a new intraday record high on the S&P 500 and a two trillion Dollar market cap for Apple on Wednesday, the music suddenly stopped and with it, the ‘rally of everything’. All major US indices began to stumble, the Dollar woke up
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A month after completing all licensing procedures in Cyprus for the EuroAsia Interconnector subsea electricity cable, licenses for the second ‘electricity highway’, the EuroAfrica Interconnector have been issued. Daily Phileleftheros reported that the granting of the relevant license gives the green light for the HVDC converter station to be built, for which Siemens has been
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Cyprus reported a worrying 26 new COVID-19 cases on Wednesday, raising the total to 1,385 after only eight the previous day. The last time Cyprus had reported such high numbers of daily cases was on 4 August when authorities had also reported 26 cases. It shows that Cyprus is failing to contain the spread of
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Brussels must not show double standards in upholding human rights in Belarus but ignore Turkey’s violations especially in Cyprus, President Nicos Anastasiades said Wednesday. Anastasiades made the comments in an intervention during the extraordinary European Council meeting that took place via teleconference. He welcomed the approach and the immediate reaction of the EU over the
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A third of Cyprus topflight clubs have yet to test their players some 48 hours before the new season’s championship title race kicks-off. Players’ union PASP has criticised the country’s health authorities for allowing teams to wait until the last minute to test their players. In comments to Super Sport FM, chairman of PASP, Spyros
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The Residential Property Price Index (RPPI) for the first quarter showed signs of slowing down due to the stricter criteria imposed on the Cyprus Investment Programme and uncertainty created by the coronavirus pandemic. Central Bank of Cyprus (CBC) said on Wednesday its compiled RPPI rose by an annual 1.8% in the first quarter of 2020
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Travel restrictions due to the Covid-19 pandemic has decimated Cyprus’ tourism industry with tourist arrivals in July registering an annual decline of 88.2%. According to official data, amid the coronavirus outbreak, tourist arrivals in July were limited to 64,914 from 550,971 in the same period last year. Although it is a marked improvement on June
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By Han Tan, Market Analyst at FXTM The monkey is now off the S&P 500’s back. After teasing investors with multiple attempts in recent trading sessions, the benchmark US stock index registered a new record high after closing at 3389.78 and fully wiped out its losses since the start of the Covid-19 pandemic. The
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Cyprus is feeling the impact of global warming with weather experts puzzled as they see new temperature records on a monthly basis while an ever-increasing number of extreme heat warnings are being issued. Cyprus’ Met Office issued its 64th warning for extreme weather for Wednesday with maximum temperatures expected to exceed a scorching 40 degrees
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Cypriots can travel freely to less than a dozen EU countries without having to quarantine on their entry or carry a negative coronavirus test after Finland knocked Cyprus off its safe list on Wednesday. Finland announced its decision to remove Cyprus off its safe list, as it joined a band of countries including neighbouring Denmark
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