The Central Bank of Cyprus (CBC) sees some downside risks for the Cypriot economy over the next two years that may lead to slower GDP growth despite the robust economic activity. Non – performing loans (NPLs) which are overdue for more than five years as well as various geopolitical developments such as Brexit, US-China trade
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The Deputy Ministry of Tourism has made its New Year resolutions with one of them being to put Cyprus back on the cruise map. With the glory days of cruise ships buried somewhere in the 1990s, as cheaper airfares and conflicts in the region have put a strain on the sector, the junior ministry has
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Confidence in the shipping industry rose in the last quarter to its highest level for 18 months, according to the latest Shipping Confidence Survey from the industry’s leading adviser and accountant BDO. The average confidence level expressed by respondents to the survey was 6.4 out of 10.0, compared to 5.8 in Q3 2019. This is
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Regional diplomacy is intensifying to counteract Turkish energy moves with Egypt hosting a four-country summit also involving Greece, Cyprus and France next month. Greek Foreign Minister Nikos Dendias announced the convening of a quadripartite summit between Cyprus, Egypt, Greece and France, which is expected to be held on 4 or 5 January, in Cairo. The
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Cyprus police are questioning a 57-year-old man in connection with the Australian drug bust where 645 kilos of ecstasy was found in Cypriot-made barbecues. It is the largest quantity of drugs in a single case involving Cyprus. The suspect, believed to be involved in the case, is already in custody over a separate drugs-related case.
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Snow is expected to fall in the Troodos mountain range and continue to do so until Christmas Day promising a white festive Cyprus treat for visitors. The Met Office said that snowfall on Troodos will start on Monday night while there is a possibility of some flakes falling in lower mountain regions on Christmas and
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Public complaints against the police force increased by 23% in 2018, while authorities are confident that the findings of the same survey indicate there is an improvement in the way officers behave. Andreas Paschalides, President of the Independent Police Complaints Authority, which looks into complaints against police officers presented his annual 2018 report to Justice
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Jordan’s King Abdullah II said he is willing to cooperate in joint action to achieve peace, stability and security in the region when discussing the Turkey-Libya maritime deal with President Nicos Anastasiades. He told Anastasiades that he follows regional developments closely and reiterated his full support towards Cyprus, according to Cypriot government spokesman Kyriakos Koushos.
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Cyprus is mourning its 51st road victim of 2019 with 21-year-old Panayiotis Panayiotou dying in a car accident, as the 20-year-old passenger fights for his life at Nicosia General Hospital. The two men were found in a ditch after plummeting down a 190-metre cliff when their car veered off the Spilia-Kannavia mountain road. The two young
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By Hussein Sayed, Chief Market Strategist at FXTM Asian equities traded mixed on Monday, holding near their 2019 highs as volumes dropped with traders and investors preparing to celebrate the holiday break. Optimism over trade and improving economic activity sent US stocks to new record highs on Friday. The S&P 500 rose 0.5%, while the
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