By Han Tan, Chief Market Analyst at Exinity Group All eyes are on the Fed’s incoming policy signals due later Wednesday, with US interest rates set to be raised to their highest levels since 2008. With a 75bp hike already fully priced in, a dovish, smaller 50bp hike is likely to translate into strong dollar
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President Nicos Anastasiades is expected to meet Russian Foreign Affairs Minister Sergei Lavrov on the side-lines of the UN General Assembly in New York on Wednesday, amid reports that the Russian Federation has greenlighted direct flights to the Turkish occupied north of the island. Earlier on Tuesday, Turkish daily Milliyet reported that Russia will start
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By Lukman Otunuga, Senior Research Analyst at FXTM European shares edged cautiously higher on Tuesday as investors braced for a busy trading week, jampacked with central bank decisions and headlined by the U.S Federal Reserve. Overnight, Wall Street concluded the session on a positive note, despite oscillating between losses and gains, while king dollar very
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Hellenic Bank saw its profits increase in the first half of 2022 to €55.4 mln, from €21 mln in the same period last year, reducing its non-performing loans further, and sticking to its transformation roadmap. The island’s second largest lender said that during the first six months of the year, €556 mln of new loans
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Investors should avoid panicking about the imperfect Federal Reserve’s next announcement this week and stick to basic investment fundamentals, warns the CEO of a leading financial advisory and fintech. “The Fed, once again, is driving stock markets, investor sentiment and decision-making,” said deVere Group’s Nigel Green as the U.S. central bank begins its critical two-day
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A fresh attempt by US private equity firm Lone Star at a fourth takeover bid for Bank of Cyprus will also be shot down by the institution’s shareholders and the island’s financial authorities, according to well-informed media reports. The Financial Times reported that despite seeing three cash offers rejected by the board of the biggest
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By Craig Erlam It’s been a volatile start to the week which is unlikely to abate considering what’s to come over the next few days. Central banks are lining up to deliver huge rate hikes as the desperate fight against inflation continues. The Fed headlines on Wednesday, but others will follow including the BoE,
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Limassol’s landmark Londa Hotel is to enjoy a touch of Paris with makeover plans designed by a world-renowned French interior aesthete. The transformation of the iconic Londa hotel into 29 premium lifestyle residences is underway. The project is expected to be completed by the end of 2023, as announced by Fidera, a European investment management
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Cyprus and Israel agreed Monday to resolve speedily a long-running dispute on exploiting a natural gas reservoir that straddles the maritime boundaries of both countries, energy ministers said. Israeli Energy Minister Karine Elharrar held discussions in Nicosia with her Cypriot counterpart, Natasa Pilides, to end a decade-long row over exploiting a joint gas reservoir. The
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Supermarkets can only sell halloumi, produced under the EU-approved Product of Origin file, as the Agriculture Ministry launches inspections at stores. In comments to the Cyprus News Agency, the head of the Agriculture Department, Androulla Georgiou, said that inspectors were carrying out checks at supermarkets, with no reports of non-PDO halloumi found. She said inspectors
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