By Jameel Ahmad, Chief Market Analyst at FXTM While all attention on Greece has been focused on the prolonged negotiations with creditors, the economic data has taken a step backwards in 2015 and it is not surprising to hear that the Greek economy has fallen back into recession. Unless these ongoing and continually dragging negotiations
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The Larnaca marina and port project, stalled due to the lack of funding by the operators Zenon Consortium, is going ahead as planned “and should have a positive outcome by June 15,” said Transport Minister Marios Demetriades. Speaking at a meeting hosted by the mayor and members of the Larnaca municipal council, Demetriades said that
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By Jameel Ahmad, Chief Market Analyst at FXTM Global markets are looking slightly more upbeat on Wednesday and seem to be attempting a recovery from the previous day’s aggressive sell-off in bonds. This could change suddenly though, mainly because of risks to the US markets later Wednesday with the US advance retail sales data being
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The Turkish Lira's steep decline in recent months will likely imply worsening asset quality and growth in risk-weighted assets (RWAs) that will become pressure points for Turkish financial institutions, Moody's Investors Service said on Tuesday. "Lira depreciation will affect Turkish banks' asset quality. About 30% of system-wide loans are foreign-currency denominated, so the currency's decline
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YoungShip Cyprus, the local chapter of the YoungShip International network of young professionals in the maritime industry, held its sixth annual seminar last week titled “Ports Privatisation – New Opportunities” with the main speaker being the Minister of Transport, Communications and Works, Marios Demetriades. During the event, held at the Venue Centre of the Columbia
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Oil prices will remain below the psychologically important $100-a-barrel mark until at least 2025, according to a draft report by the Organisation of Petroleum Exporting Countries (OPEC), seen by The Wall Street Journal. In its most optimistic scenario, the cartel of 12 oil-producing countries, forecast that oil will sell for around $76 per barrel
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The European Institute of Management and Finance (EIMF), in collaboration with MAP S.Platis and Exness, is organising the Risk Management in the Financial Services Sector Conference next week, in light of recent significant events that shook the sector in these few turbulent years, such as the post-crisis surge of regulatory changes and market shocks like
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The Ifo Index for the world economy rose to 99.5 points from 95.9 points last quarter. Both assessments of the current economic situation and the economic outlook improved, according to the Ifo World Economic Survey (WES) for the second quarter 2015. WES experts forecast growth of 2.3% this year as the world economy is slowly
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Turkey must do more to fight corruption and enforce respect for media freedom, free expression and judicial independence, Foreign Affairs Committee MEPs said on Monday. In a resolution on the progress of reform in Turkey in 2014, MEPs also urge the EU to back Turkey’s efforts to build solid, democratic institutions and ensure respect for
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By Jameel Ahmad, Chief Market Analyst at FXTM INDICES AND PBOC After being vulnerable to losses throughout last week as investors appeared to toy with the idea of closing positions, global indices have commenced the week looking more positive. A variety of different factors have combined together to raise investor sentiment, with this including an
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