Saudi Arabia’s state-owned energy corporation, Saudi Aramco, has highlighted the huge earnings made by gas and oil-rich nations during the energy crisis after reporting revenues of $48.4 billion in the third quarter, up 90% from $25.5 billion a year earlier. Saudi Aramco is just the latest in a long line of oil giants to announce
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Businesses are urging authorities to quicken Cyprus’ transition to a greener economy to fight back against the rising energy costs. The Cyprus Federation of Employers and Industrialists (OEB) has forwarded five proposals to Energy Minister Natasa Pilides on how government can push its green agenda and help businesses overcome challenges posed by an ongoing COVID-19
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The Ministry of Health is in the final stages of preparing a road map to manage COVID-19 during the winter months when a new surge is expected. Ministry official Constantinos Athanasiou told CNA that on Friday, a new meeting with the members of the COVID Scientific Advisory Committee would be held. He said the ministry
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The Securities and Exchange Commission has authorised digital banking platform Revolut to offer cryptocurrency services across the European Economic Area (EEA) from its Cyprus hub. The EEA includes the 27 countries that are in the European Union, plus Iceland, Liechtenstein, and Norway. Revolut, valued at $33 bln, became the first entity to receive approval as
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Detections of irregular entries by migrants and refugees through the European Union’s external borders on the Eastern Mediterranean route remain high, with significant numbers arriving in Cyprus, said EU border agency Frontex. During the first seven months to July, 22,601 arrivals were recorded on the Eastern Mediterranean route (including the EU’s external borders with Turkey), a
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Cyprus Finance Minister Constantinos Petrides has warned opposition parties not to draw comparisons between Germany’s EU request for a VAT exemption on a new consumer levy on energy produced by gas and their proposals on lifting VAT on bills. In a written statement, Petrides argued that the two situations were not comparable and that the
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By Lukman Otunuga, Senior Research Analyst at FXTM Asian shares edged cautiously higher on Tuesday, tracking a rebound in Wall Street overnight, despite disappointing economic data from China and the US fuelling recessionary fears. Stocks in the region were supported by expectations over China unleashing more stimulus to support economic growth. In Europe, futures pointed
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A father-of-three was flying with his family from Cyprus to Manchester when he intervened to restrain a woman who stripped down to her underwear and tried to enter the cockpit twice. Phillip O’Brien, 35, was on holiday with his family when a fellow passenger stripped to her underwear and tried to storm the plane cockpit twice, claiming she had
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Surprises were in store for archaeologists working on the second phase of excavations at the mysterious tumulus of Laona, near Paphos, a prosperous administrative centre before the Hellenistic period. The excavations revealed new data on the dimensions of the mound and the area of the fort located at the same spot. The Department of Antiquities said the
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By Craig Erlam It’s been an underwhelming start to the week in financial markets with the eternal optimism of investors clashing with the reality of Chinese economic data. There’s a bizarre willingness to turn a blind eye to the economic reality at the moment as long as the US Fed doesn’t raise rates too
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