Cyprus signed four bilateral agreements with Bahrain on Monday, during President Nicos Anastasiades’ state visit to the kingdom where he was be received by ruler Hamad bin Isa Al Khalifa, where the two leaders also discussed issues of cooperation in tourism and the economy, as well as concerns about regional security. The aim is to
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The yield on 10-year Cyprus sovereign bonds dropped to 4.15% on Friday, the lowest level in almost four years, with government sources attributing the decline to the start this week of the ECB’s €1.14 trln quantitative easing (QE) programme and bond purchasing programme to revive the Eurozone economy. However analysts believe this excuse may be
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With the household incomes dwindling and banks still not fully injecting money into the economy, consumers seem to be holding back on their spending habits, with credit card payments recording a cumulative 12% fall in the first two months of the year. According to the JCC Payment Systems card clearing monopoly, credit card use dropped
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Cyprus GDP decreased by 0.7% in the last quarter of 2014, compared to a decrease of 0.3% in the third quarter of last year, according to the EU statistical office Eurostat. Seasonally-adjusted GDP rose by 0.3% in the euro area and by 0.4% in the EU28 during the fourth quarter of 2014, compared with the
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Lufthansa will significantly enhance passengers’ travel experience this year with a range of initiatives. The various innovations are based on customer feedback: modern cabin design in the entire fleet, new service concepts on board, an innovative pricing concept and a substantial expansion of the long-haul network to include new dream destinations will make Lufthansa even
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Cyprus President Nicos Anastasiades is on a state visit to Bahrain where he will be received by Hamad bin Isa Al Khalifa later on Monday, where the main issues on the agenda will be bilateral relations on energy and regional security, while trying to attract investors from the Gulf state, especially in large-scale and infrastructure
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Sotheby’s is to auction next week the controversial Italian artist Maurizio Cattelan’s granite memorial to every single defeat that England’s football squad has suffered since 1874. The ‘Untitled’ work by Maurizio Cattelan in 1999 is expected to fetch £400,000-600,000 in the London sale next Tuesday. “Carved into it are all the defeats of England’s national
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A rising trend in new property deals have brought in about €1 bln in foreign funds in the past two years, defying the negative climate in the market, especially after the Eurogroup decision in March 2013 to impose a €10 bln bailout and austerity programme on Cyprus. Pantelis Leptos, Chairman of the Cyprus Land and
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The Council of Ministers has approved a pair of long-outstanding bills that will now head to parliament for debate and a vote, thus concluding the thorny issue of the foreclosures package that has held up the fifth review by the Troika of international lenders and the next tranche of bailout money. Government spokesman Nicos Christodoulides
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The financing of capital flight from Greece via the Eurosystem has sharply increased the country’s payment obligations to international public institutions, according to the Ifo Institute, that said these payment obligations rose to €319 bln, or 173% of Greece’s annual economic output, by the end of January. “There is no way for Greece to avoid
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