Cypriot Energy Minister Natasa Pilides said Tuesday that a new gas find off Cyprus would help the EU member state speed up the commercial exploitation of its untapped resources and help supply Europe with secure energy. She told CyBC state radio that a “significant” find by Italian-French consortium Eni-TotalEnergies of 2.5 trillion cubic feet would
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By Lukman Otunuga, Senior Research Analyst at FXTM Asian shares were in the red on Tuesday, tracking a heavy sell-off on Wall Street overnight as concerns over upcoming aggressive Fed hikes sapped risk sentiment. European shares took a beating in the previous session amid fears around the region’s energy crisis. Stocks traded lower again Tuesday
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Cypriot scientists have discovered a recombinant strain of the HIV-1 virus circulating in Cyprus, collaborating with the Gregorios AIDS Clinic at Larnaca General Hospital. The discovery was made by UCy’s Laboratory of Molecular Virology of the Department of Biological Sciences, led by professor Leondios Kostrikis and Brian Thomas Foley of the Los Alamos National Laboratory
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For the first time, Palestinian tourists landed at Larnaca Airport on a flight of the Israeli private carrier, Arkia, which flew directly to Cyprus from Ramon, in southern Israel. It is the first flight for Palestinian tourists departing from Ramon Airport, in accordance with the new package of confidence-building measures between Israel and the Palestinian Authority,
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Private equity firm Lone Star has yet to reveal whether it plans to increase its €727 mln bid to buy Bank of Cyprus after having a cash proposal rejected by the biggest lender’s board for the third time. “It is not certain whether any offer will be made, nor as to the terms,” Lone Star
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At a time when Cyprus is positioning itself on the world map as one of the fastest-growing destinations for companies specialising in technology, research and innovation, Cypriot company Point Nine supports this fact. Point Nine was selected for the second year as one of the 50 best companies to watch in 2022 by the world-renowned
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Despite strong inflationary pressures crushing household incomes, the value of new mortgages taken out had reached its highest level since December 2014, when the Central Bank began recording data. Net new mortgage loans spiked 33% to €693.6 mln in the first half of 2022, from €520.2 mln in H1 2021, €306.3 mln in the same
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Investors need to prepare for the coming UK recession, the CEO of one of a leading independent advisory and fintech has warned, as UK inflation hit 10.1%, a new 40-year high. “UK Inflation is running red-hot and is set to peak at a staggeringly high 13% in October,” said deVere Group chief executive Nigel Green.
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Some 41% of households in Cyprus enjoyed high-speed internet coverage, a huge gap from the rest of the EU, where 70% enjoyed fast broadband. Cyprus had the second lowest coverage in fixed, very high capacity network (VHCN) connections among EU member states, after Greece and below Italy. Eurostat defines fibre connections or other networks offering
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The Citizenship for Investment scheme was “rotten” to its core, while several actions of government officials could constitute criminal acts, said the Audit Office on Monday. Releasing an almost 200-page dossier containing the findings of a probe into 3,517 cases of foreign investors who acquired citizenship through the golden passport scheme, the Auditor General’s office
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