The Cyprus trade deficit widened to €5.09 bln in 2019, from €4.89 bln in the year before, due to a significant drop of €1.2 bln in exports, according to official statistics. However, exports picked up marginally in the last month of the year, with re-exports more than doubled. The data suggest that there was a
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Following Cyprus’ first two coronavirus cases, consumers have taken to stockpiling personal hygiene and non-perishable food items, as supermarkets handle twice the traffic they would normally see. Although nowhere near the levels of panic buying reported in Italy and other coronavirus hit countries, the Cyprus Supermarket Association said many retailers have seen a significant increase
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Cyprus on Wednesday started enforcing emergency measures introduced to limit the spread of coronavirus by banning mass gatherings, closing schools while the country’s two largest state hospitals were in lockdown. Following news that Cyprus had its first two coronavirus cases, with one being the 64-year-old head of cardio surgery at Nicosia General Hospital, the island’s
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Famagusta General Hospital will serve as the reference hospital for coronavirus patients and has already undergone an emergency management drill to handle an outbreak of the deadly disease. Permanent Secretary of the Ministry of Health, Christina Yiannaki, said that Famagusta General was chosen as a reference hospital in case of an epidemic or pandemic as
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By Han Tan, Market Analyst at FXTM GBPUSD faltered below the 1.29 psychological level before seeing a sharp recovery, after the Bank of England surprised markets on Wednesday with a 50-basis point inter-meeting rate cut. Sterling is also currently weaker against all of its G10 counterparts, except for the US Dollar. The BOE’s unanimous decision
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Cyprus tourism is in damage limitation mode from the coronavirus outbreak as it faces a “very difficult year”, Deputy Minister for Tourism Savvas Perdios said. Perdios has briefed the cabinet on the impact of the coronavirus on Cyprus’ tourism, a vital driver of the island’s economy. Cyprus has already confirmed its first two coronavirus cases.
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By Han Tan, Market Analyst at FXTM Despite Wall Street’s gains on Tuesday, the tide of risk aversion is rising again in financial markets. Most Asian stocks are seeing another sell-off, albeit to a lesser extent compared to recent sessions, while US futures are again pointing to losses. The risk-off mood is evident in the
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Global stocks are rebounding on stimulus measures and can be expected to recover considerably by the end of the year, affirms the CEO of one of the world’s largest independent financial advisory organisations. The comment from Nigel Green, CEO and founder of deVere Group, comes as shares in the Asia-Pacific region jumped and European indices
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The organisers of the Limassol marathon, the biggest racing event on the island, announced late Tuesday that they have postponed the event as a precautionary measure because of the coronavirus fears and instead of the weekend of March 21-22, it will be held on November 21-22. Saturday March 21 was reserved for the charity and
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Worried about the social and economic impact of telling thousands of people who have travelled from Greece and the UK to self-isolate, Cypriot authorities made a quick U-turn on Tuesday changing the advice to self-monitoring. It seems the coronavirus helpline crashed after being inundated with calls – following the new guidelines – from worried travellers
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