By Craig Erlam Stock markets were bouncing back on Tuesday following a rocky couple of weeks as investors grew nervous about the economic impact of tightening. Fed Chair Jerome Powell could not have been more clear at Jackson Hole on Friday on the central bank’s tightening stance and unlike the warnings from his colleagues, the
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Cyprus is trying to reach agreements for the return of migrants, especially from the Congo, said Interior Minister Nicos Nouris. He discussed the return of migrants with DISY leader and presidential candidate Averof Neofytou who recently visited the Congo. Nouris blamed Turkey for instrumentalising migrants from sub-Saharan Africa “for months”. He said Congolese nationals, within
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Limassol police are searching for a stray dog, described as a Rottweiler, which attacked and seriously injured an eight-year-old boy while playing. The boy was admitted to Nicosia’s Makarios children’s hospital after being attacked by the dog in Ayios Ioannis, Limassol, on Monday. An update from doctors at Makarios hospital said the child is no
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Cypriots are paying among the highest electricity bills as Cyprus ranks seventh for energy costs in the European Union. According to Euronews, Cyprus is among the ten most expensive countries for electricity in terms of electricity prices for July. Last month’s electricity price in Cyprus was €0.3833 per kilowatt per hour, including VAT. This puts
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Income from tourism in the first six months was just 17% lower than revenues flowing in back in the record-breaking year of 2019, as Cyprus strives to shake off the pandemic. According to the Statistical Services’ latest Traveller Survey, tourism revenue reached €835.7 mln in the first half of 2022, recording a decrease of 16.7%
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U.S.-China trade relations were given a significant boost over the weekend and this should act as a “monumentally loud” wake-up call for investors, according to a leading financial advisor. The two nations reached a tentative agreement on Friday to allow U.S. regulators to inspect the audits of Chinese companies whose stocks are traded on American
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Close to $700 mln of stolen crypto has been recovered since January this year, following efforts from various governments and organisations to track and recover stolen cryptocurrency, according to data from StockApps.com. In May, the US Department of Justice (DOJ) announced the creation of a “Cryptocurrency Theft Task Force”, tasked with investigating and prosecuting cases
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Some 67% of enterprises in Cyprus and 56% in the EU reached a basic level of use of digital technologies (digital intensity), according to Eurostat. A basic level entails at least four of 12 selected digital technologies (such as using any AI technology or e-commerce sales account for at least 1% of total turnover). It includes businesses with
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By Edward Moya US stocks were declining Monday after a weekend filled with a worldwide central bank hawkishness reinforced the message that central bank tightening will deliver pain to households and businesses. Friday’s sharp selloff continued as expectations for the energy crisis continued to persist, which will keep inflation risks elevated and lead to a
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Economic sentiment deteriorated in August to a 17-month low, as the University of Cyprus index decreased by 4.5 points from July amid a cost of living crunch. The decrease in the ESI-CypERC index to 96.7 was due to weaker business confidence in services and, to a lesser degree, lower economic confidence in construction and consumers.
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