By Han Tan, Market Analyst at FXTM Asian markets and US stock futures are taking a hit, following China’s tit-for-tat decision to order the US consulate in Chengdu to close. This follows the US government’s similar order on China’s consulate in Houston earlier this week. The escalating tensions between the world’s two superpowers come at
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EU foreign policy chief Josep Borrell in a telephone conversation with Turkish Foreign Minister Mevlut Cavusoglu agreed on the need to de-escalate tensions in the Eastern Mediterranean and will revisit the matter in late August. Borrell tweeted: “Following Foreign Affairs Council (FAC) discussion on Turkey and further rise of tensions in East Med, I spoke
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The government has rejected a proposal tabled to offer a free COVID-19 test to British tourists wanting to come to Cyprus for a holiday, shattering any hopes of attracting Britons this summer. Cyprus hoteliers urged the government to encourage British tourists to choose the island by absorbing the cost of coronavirus tests which they need
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In a worrying trend, Cyprus reported a jump in new daily cases of coronavirus with five incidents reported on Thursday, after zero infections 24 hours earlier. Thursday’s positive cases involved, an arrival from Israel, a Canadian living in Cyprus who has returned from Iraq via Dubai, and more alarmingly, three locally transmitted infections. The five
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Cyprus banking sector capital levels reached a historic high in 2019, placing Cypriot banks on a better footing to face the financial havoc wreaked by the coronavirus outbreak. According to Central Bank of Cyprus (CBC) Key Aggregate Financial Indicators for the banking sector for Q4, 2019, Core Tier 1 Capital amounted to 17% from 16.6%
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Cyprus health authorities are concerned over a number of untraceable ‘orphan’ COVID-19 cases which were detected among the community, especially in Limassol, in recent weeks. The majority of cases were found in a single district, Limassol, with epidemiologists also fearing the formation of new clusters if the infections cannot be linked to a source. Worried
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By Hussein Sayed, Chief Market Strategist at FXTM Tensions between the world’s two largest economies are on the rise. After ordering the shutdown of China’s consulate in Houston and claiming two Chinese hackers targeted US companies working on the virus and stealing information, we are yet to see the Chinese response. US-China relations have been
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French President Emmanuel Macron on Thursday denounced Turkey’s violation and threats against the sovereignty of Greece and Cyprus, as tensions mount in the East Med region. Macron expressed his country’s solidarity with Cyprus and Greece saying it was not acceptable for the sea area of an EU member state to be violated and threatened. Receiving
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Cyprus got a small break from extreme summer conditions on Thursday as it recorded a maximum temperature of 39 degrees Celsius inland, but is expected to rise again on Friday exceeding 40֯ C with the weather remaining hot over the weekend. Thursday’s temperature will still be higher than normal by one degree, around 32°C along
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Transport Minister Yiannis Karousos has ordered a probe into three incidents in as many weeks investigating possible safety faults on buses employed by the Cyprus Public Transport company, which took over the Nicosia and Larnaca urban public networks on July 5. The probe follows a series of events involving buses moving on their own, with
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