Greek economy: The struggle to stay afloat continues By Costis Stambolis Greece and its international lenders may have reached a deal in mid June on a much awaited EUR 8.5 bln loan installment, but this will provide only temporary reprieve for the country’s financial problems. “Greece’s economic malaise is far from over with actual
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The current political and economic climate has contributed to some of the highest levels of uncertainty seen for decades, say PwC economists in their latest Global Economy Watch. Indeed, in recent years, uncertainty has been keeping business leaders busy. CEOs have responded in several ways –from insuring against the potential costs of cyber attacks,
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Global middle market organisations (companies with annual revenues of $1mln – 3 bln) are showing no signs of slowing down in the face of geopolitical uncertainty, according to a survey by EY. Over one-third (34%) of middle market companies plan to grow 6-10% this year, far outpacing the latest World Bank global GDP growth forecasts
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By Hussein Sayed, Chief Market Strategist at FXTM Equity investors across the world welcomed Federal Reserve Chair Janet Yellen’s testimony with open arms. The Dow Jones Industrial Average jumped 123 points on Wednesday – a record high. The S&P 500 and Nasdaq Composite rallied 0.7% and 1.1%, respectively. Meanwhile, the positive sentiment spread into
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* Company evolves in parallel with Samsung to become leading medical supplier in Cyprus * IMS Iatromed Services Ltd., one of the leading medical equipment suppliers in Cyprus, has set its sights on a major new government contract worth about EUR 4 mln, for the supply, installation and support of digital X-ray equipment at all
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. By Tom Lawrence Reactions to the breakdown of the talks to reunite Cyprus in Crans Montana last week have been predictable. The Greek Cypriots have laid the blame on Turkey, Turkey and the Turkish Cypriots, while some anonymous international sources have laid the blame on the Greek Cypriots. Others have blamed the UN for
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By Lukman Otunuga, Research Analyst at FXTM The Greenback was neatly packaged and delivered to bears on Tuesday, following reports of emails that show President Donald Trump’s eldest son met with a Kremlin-linked Russian lawyer prior to the US general elections last November. This fresh revelation has added to the political uncertainty in Washington and
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Bank of Cyprus has been named Best Subcustodian Bank in Cyprus for 2017 for the fourth consecutive year, according to the annual recognition awarded by Global Finance magazine. The publication granted the same award to Bank of Cyprus in the past three consecutive years, and this recognition serves as a confirmation of the high
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As of July 1, the tax treatment of intra-group financing arrangements has been amended in Cyprus, according to an announcement by regional business advisory firm Eurofast. Intra-group financing transactions refers to finance activities between related parties (as defined in Section 33 of the Income Tax Law), including permanent establishments in Cyprus. Based on the Interpretative
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. It was strike time again this week, with about two thirds of the staff at the Co-operative Central Bank not showing up for work, seeking pay rises where their employer has nothing to offer, and ignoring proposals that these matters be part of a general package when 25% of the shares in the Co-op
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