By Hussein Sayed, Chief Market Strategist at FXTM Stocks continued to plunge on Monday after US equities experienced their worst week since August. The spike in the Volatility Index (VIX) on Friday is starting to reflect fears about the spread of the deadly coronavirus which has already killed 80 people in China, infected more
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By Dr Andrestinos Papadopoulos, Ambassador a.h. The exploration and exploitation by Cyprus and Israel of their offshore hydrocarbon resources were at an advanced stage when in an article I published in ‘Politis’ and the ‘Sunday Mail’ on October 14, 2012, after referring to the existing pipelines, all of which are sourced from, and/or controlled by
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It only takes a cabinet minister to get on a bus (twice in 40 days, actually) to realise the poor state of public transport and that what is desperately needed is a general overhaul of infrastructure. We don’t need a tramline to connect towns, nor a train in the mountain areas, because that will be
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There is not much going on in government, as Nicosia is busy putting out fires it started with an energy quest that plotted a course of full steam ahead for a confrontation with Turkey. Yes, Cyprus is a sovereign state with rights to pursue its own path within international law and global norms, but it
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President Nicos Anastasiades inaugurated the new Petrolina liquid fuels storage facility at Vassiliko on Saturday, saying the company’s relocation was well within the timeframe agreed with the authorities and that this was the start of the implementation of the new energy centre. The oldest Cyprus petroleum company’s fuel tanks on the Larnaca-Dhekelia road have been
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It is a fact of life that most towns suffer from traffic congestion problems, as well as difficult accessibility to destinations and lack of parking. It is also a fact the recently acquired attraction by Cypriot shoppers for malls with their many shopping advantages, as well as DIY and the large retail stores (including supermarkets)
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Larnaca will see its fair share of new developments with several luxury high-rise building projects, hotels and a shopping mall being built by local and foreign investors. Once lagging behind other towns in Cyprus construction activity, Larnaca is catching up with redeveloping the marina, its first shopping mall, while building luxury apartments and hotels. Larnaca
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The government is coming under attack from almost every corner for its decision to oblige fuel importers to increase biofuel in the fuel mix which is expected to shoot prices up by 5-6 cents a litre. Energy Minister George Lakkotrypis issued a decree for fuel importers to put a higher percentage of biofuel in the mix for the
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Cyprus’ Parliament on Friday approved an amendment to the rent control law making it easier for landlords to evict tenants who fall into arrears or deliberately don’t pay their dues. A majority of MPs backed the bill with 31 votes in favour, 15 against and two abstentions. The House voted in the bill which will
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Cyprus had the second-highest annual increase in the EU of nights spent in tourist accommodation by residents (up 13%) in 2019 and the second-largest share of non-residents (94%) staying over. Last year in Cyprus, 18 million nights were spent at tourist accommodation establishments, 16.9 million of them by non-residents (94%), a 4.7% increase compared to
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