The commercial viability study of the ambitious EastMed gas pipeline is not proceeding normally as Turkey is “interfering with the Nautical Geo ship conducting environmental surveys,” Foreign Minister Ioannis Kasoulides said. He said that Cyprus’ attitude “has not changed on the need to wait for environmental sustainability, because of the new development that has arisen
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By Jeffrey Halley Readers should stop watching US stock markets for economic wisdom, as the price action overnight confirmed that part of the financial world has as little future insight as anywhere else. Last week, US equities rallied on the back of the arcane logic that a US recession would mean lower terminal Fed funds
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Capital Intelligence is confident that Hellenic Bank is on the right path to growth and profitability, raising its outlook on the long-term foreign currency rating (LT FCR) to ‘positive’ from ‘stable’. The rating agency raised the core financial strength (CFS) rating to ‘bb’ from ‘bb-’ and affirmed its long-term foreign currency rating (LT FCR) and short-term foreign
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The vast majority of Turkish Cypriots are unhappy with the way authorities in the north handle the ravaged economy, as only two in 100 people feel content. An opinion poll conducted by the Centre for Migration, Identity and Rights Studies (CMIRS) showed that 97% are unhappy with the north’s runaway economy, but 2.58% of Turkish
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President Nicos Anastasiades will hold an emergency with ministers and officials from energy authorities in a bid to bring down galloping electricity prices amid an inflation tide. Anastasiadis has called for a meeting on Friday at the Presidential Palace to find ways to reduce the price of electricity, with the participation of the ministers of
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The inevitable regulation of the cryptocurrency market is “a significant step closer” according to the head of a leading advisory and fintech, following comments made on Monday by the U.S. Securities and Exchange Commission Chairman Gary Gensler. Speaking to CNBC’s Jim Cramer, Gensler said that Bitcoin is now to be labelled as a commodity. Nigel
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Face coverings must be worn when visiting a pharmacy, clinical labs, or government testing sites for COVID-19, less than a month after a mask mandate was lifted, the Health Ministry said Tuesday. The Cabinet decision comes after a new surge in COVID cases and hospitalisations, which the ministry attributed to the prevalence of Omicron subvariants
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Bank of Cyprus is downsizing its network by closing 15 more branches and removing ATMs, while plans foresee laying off some 500 employees as it speeds up its digital presence and reduces operational costs. The bank will be reducing the number of branches within the next few days as another 15 will be closed and
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Cyprus can become a regional educational, research and excellence centre, said President Nicos Anastasiades addressing the University of Cyprus graduation ceremony. In his speech, he defended the government’s work to promote tertiary education in the country and the University of Cyprus. Anastasiades said targeted government policy for higher education was reinforced with the construction of
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A European Union directive to reduce the size of homes entitled to lower 5% VAT has real estate agents and developers in uproar as they claim it will endanger the recovery of the construction sector and the economy. According to a recent EU directive, member states must introduce legislation of 5% VAT on homes up
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