. BY GEORGE MOUSKIDES and GEORGE MAVREAS The medium-term prospects of the economy and the property sector are positive, following the recent developments, especially the discovery of significant gas reserves. Let's start by looking at the prospects that exist today: – The positive ramifications to the Cyprus economy and government budget concerning the natural gas
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. BY SHAVASB BOHDJALIAN The US economy added 243.000 jobs in January, the most in any month since early last year, pushing down the unemployment rate to 8.3%, a level not seen since President Barack Obama's first full month in office. The better-than-anticipated labour picture propelled stock prices higher with the Dow ending at its
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. During a recent meeting of economists who compile the Financial Mirror Quarterly Survey, one of the questions that came up was “can things improve with a change in government?” Perhaps the question ought to have been: “can things get any worse?” The haphazard way with which the full privatization of Cyprus Airways has been
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Data from the latest Cyprus Recruitment Index (CRI) released this week by GRS Global Recruitment Solutions, shows a substantial increase in placements within the corporate services sector for 2011 and projected growth in the financial and investment services sectors for 2012. Despite the gloomy forecasts of global markets, the CRI figures suggest that the international
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. BY SHAVASB BOHDJALIAN The Fed caught market participants off guard after announcing that rates will remain at exceptionally low levels until late 2014, extending the prior timeframe from mid-2013. The Fed also lowered its 2012 GDP forecast and noted that significant downside risks to the recovery remained. The low rates pledge hit the dollar
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Euro zone finance ministers are expected to approve a second bailout for Greece on Monday, a move they hope will draw a line under months of turmoil that has shaken the currency bloc, although there is work to be done to make the figures add up. Diplomats and economists do not expect the package to
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Markets across the assets rose on Monday as policy easing by China and expectations that Greece will secure a second bailout buoyed investor appetite for riskier assets, sending U.S. crude and copper up nearly 2%. MSCI's broadest index of Asia Pacific shares outside Japan rose 1.1% to its highest in 6-1/2 months. Japan's Nikkei gained
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Russia is about to remove Cyprus from its “black list” of targeted tax havens, after the Duma passed a law this week to ratify the Protocol to the Double Tax treaty between the two countries. The Protocol will enter into force upon signing of the ratifying law by President Dmitry Medvedev and after due procedural
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The island’s two main business associations, the Cyprus Chamber of Commerce and Industry (KEVE) and the Employers and Industrialists Federation (OEV) have submitted proposals calling for the abolition of shop hour regulations that would revive confidence in the market and help reduce unemployment. In a joint announcement, KEVE and OEV said allowing shops to stay
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Central Bank of Cyprus Governor and ECB Council member Athanasios Orphanides has said that the trust which the Eurozone had enjoyed in the past is now severely damaged due to the fact that cooperation and solidarity among its member states has been collapsing over the past two years. Addressing the annual lecture organised by the
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