Unemployment fell slightly by one percentage point to 16% in March, compared to 16.1% in February, according to Eurostat. The euro area seasonally-adjusted unemployment rate was 11.3% in March, stable compared with February, but down from 11.7% in March 2014. The EU28 unemployment was 9.8% in March, stable compared with February and down from 10.4%
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Total deposits in the Cypriot banking system fell by €130 mln in March to €46.81 bln, the same level as a year earlier, with a cumulative drop in the first quarter of €586.8 mln, mainly due to an outflow of deposits by third country residents, according to Central Bank of Cyprus data. However, deposits of
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The Finikoudes seafront is now lit with eco-friendly light bulbs. After winning Larnaca Municipality’s open competition, PGS Lighting Electrical, was appointed to upgrade the lighting of the area with low energy consumption lamps LED. Based on the contract signed by both sides and the photometric and feasibility study conducted by PGS for the purposes of
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By Alex Gurr, Market Analyst at FXTM Despite US economic data missing expectations, the USD managed to fire back as the market closed for the week, because there remains optimism that the US economy is still performing strongly. Although US economic momentum is slowing down, the data is still pretty strong and this has helped
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On Wednesday, April 22 under the slogan “Dream it. Build it. Live it”, the local Microsoft technology competition “Imagine Cup 2015” concluded with great success at the Cine Studio, University of Nicosia. Groups of students from all universities in Cyprus competed across three categories: Innovation, World Citizenship and Games. The winning team from each category
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Conjuring a sense of Mediterranean elegance, the Hai Imperial Residences, a hamlet of opulent homes, offers a refreshing sense of luxury, complimented by the Venus Rock Beachfront Golf Resort’s unparalleled beauty. Nestled on an elevated site, commanding sweeping coastal and golf course views, the privileged owners of the Hai Imperial Residences will reap the rewards
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In May 2015 DHL Parcel, Amazon and Audi will team up to launch a Germany-wide pilot project for a brand new service that will allow car owners to use their cars as mobile delivery addresses for their parcel shipments. The three project partners have developed and tested their unique solution for car trunk delivery the
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Fitch Ratings has upgraded Bank of Cyprus's (BoC) Long-term Issuer Default Rating (IDR) to 'CCC' from 'CC' and Hellenic Bank's (HB) Long-term IDR to 'B-', with a Stable Outlook, from 'CCC'. At the same time, Fitch has upgraded BoC's Viability Rating (VR) to 'ccc' from 'cc' and HB's VR to 'b-' from 'ccc'. HB's Short-term
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By Alex Gurr, Market Analyst at FXTM FOMC was the main course for the markets overnight as dollar pressure before and after remained heavily bearish. While many will be looking at the FOMC statement as rather neutral in terms of direction, I found it very interesting. The statement showed that the Federal Reserve is worried
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Business and consumer confidence is improving from the record low seen in May 2013 after the banking sector meltdown and seem to be reaching levels not seen since late-2008, according to the University of Cyprus monthly research. The Economic Sentiment Indicator of the UCy Economic Research Centre (ESI CypERC) improved by four points in April
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