By Lukman Otunuga, Senior Research Analyst at FXTM Asian equities marched higher with US futures in the green, while China’s stocks stabilised on Tuesday morning despite coronavirus cases topping 20,000 with 425 confirmed deaths. The recovery in risk sentiment may be based around official efforts to calm virus fears, China’s central bank pumping 1.2 trillion
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Cyprus President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci agreed that they need to increase their cooperation in taking all necessary measures to provide the maximum possible protection to Cypriots from coronavirus. The two leaders chaired a meeting of the Bicommunal Technical Committee on Health on Monday over growing concern and the dangers related
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Cyprus Transport Minister Yiannis Karousos announced that motorists who commit serious traffic offences will be immediately stripped of their driving license. Motorists driving under the influence of drugs or found to have an excessive concentration of alcohol in their system or driving at speeds well above the limit will be deprived of their license. The
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Cypriots are worse off than they were 10 years ago with Cyprus among only six countries whose workforce was paid less in 2019, on average, than in 2010, according to a European Trade Union Confederation (ETUC) survey. According to the ETUC survey, actual employee compensation in Cyprus, Italy, Spain, Greece, Portugal, and Croatia was lower
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Cyprus authorities brought 87 irregular Syrian migrants safely to shore after their wooden boat was picked up by radar sailing 20 nautical miles off the island’s south-eastern coast, police said Monday. A Cyprus police spokesman said they located the Syrians off the coast in a 13-metre craft and the boat was escorted to shore at
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Cyprus President Nicos Anastasiades and Turkish Cypriot leader Mustafa Akinci will hold a rare meeting on Monday to discuss the best ways of cooperation to tackle the coronavirus across the divide. According to a statement, the two leaders will meet at the Ledra Palace hotel in the Nicosia buffer zone on Monday at 7 pm
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By Hussein Sayed, Chief Market Strategist at FXTM China’s CSI 300 index plunged by more than 8% as trading resumed on Monday, the worst opening in nearly 13 years, after financial markets reopened following the Lunar New Year holiday. This comes despite the central bank’s announcement it would provide $171bn in additional liquidity to money
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Britain will forge closer ties with Cyprus after Brexit with the rights of nationals in each country guaranteed for the future. Cypriot President Nicos Anastasiades met British High Commissioner Stephen Lillie at the Presidential Palace on Monday, in light of Britain exiting the EU on January 31. Lillie told reporters: “Over the weekend we opened
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Cyprus has won back the right to call halloumi cheese its own again after it successfully re-registered the UK trademark it had lost in 2018. Cyprus had lost the trademark for its famous cheese over the 18 months ago after a blunder by Commerce Ministry officials, who failed to reply to a UK court requesting
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By Anna Theologou Following past failures of the Cyprus banking system emanating from bad banking practices through predatory lending, which caused the economic crisis, banks continued until recently to implement unsustainable loan restructurings, failed to reduce private debt and the burden on borrowers to a satisfactory degree. Now, the fact of excess liquidity has arisen
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