By Jeffrey Halley The post-FOMC rally ran equities out of steam within 24 hours with Wall Street plummeting overnight once again. Even the most ardent FOMO gnome had a conviction crisis as a swath of central banks followed the Fed’s Wednesday lead and hiked policy rates. Taiwan hiked 12.50 bps, the Bank of England hiked
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Israel’s NewMed Energy, one of the partners in the Chevron-operated Aphrodite gas field in Cyprus, announced in its Q1 2022 financial report released on May 23 that talks are underway with the Cypriot government to update the gas field’s development plan. As in its latest reports, the company restated that the partners are examining whether
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Cyprus is creaking under increased migrant flows, said Interior Minister Nicos Nouris, arguing that asylum seekers are 5% of the population, as applications rise by 140%. Nouris blamed Turkey for putting Cyprus on the frontline of irregular migration. “Ankara’s practice of instrumentalising migration, which is evolving into a new hybrid threat against Cyprus with the
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Unsettling news for Cypriots consumers as the Cyprus Fiscal Council’s spring report claims the cost of living will continue to rise throughout the year, with fuel prices also staying high. According to the Fiscal Council, the economy will continue to linger in uncertainty amid a high-risk environment while growing at slower rates than expected. The
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Cyprus stands ready to contribute to the EU’s efforts to secure gas to ease dependency on Russian supplies, said Energy Minister Natasa Pilides. At the 7th East Mediterranean Gas Forum (EMGF) Ministerial Meeting in Cairo, the EU, Egypt and Israel signed a Memorandum of Understanding for cooperation in trade, transport and gas exports. Pilides expressed
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The Earl and Countess of Wessex, Prince Edward and Sophie will visit Cyprus and the British Bases of Akrotiri and Dhekelia between 20-22 June. “During the visit, their Royal Highnesses will celebrate the ties of friendship between the United Kingdom and Cyprus, as fellow member states of the Commonwealth, and show support for the British
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The trial of a 74-year-old British man charged with the premeditated murder of his terminally-ill wife in Paphos was postponed on Thursday due to a backlog of other cases. The Criminal Court postponed the hearing until 19 September due to a busy schedule and an ongoing case concerning the sexual abuse of a child. Prosecution
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Cyprus hopes to see an influx of tourists from neighbouring Israel after the country warned its citizens to cancel Turkey holiday plans following the arrest of Iranian agents, allegedly planning attacks on Israeli targets. According to Israeli media, Iranian agents were arrested by Turkish authorities with the collaboration of Mossad, Israel’s national intelligence agency, while
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Cyprus’ traffic camera network is under the spotlight after the US operating company received a warning from the government for failing to process fines with a backlog of 15,000 still pending. Transport Minister Yiannis Karousos confirmed the news following a meeting with President Nicos Anastasiades to try and untangle the growing knot as the traffic
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A £30 mln British army drone which has difficulties flying in poor weather conditions, has crashed into the sea off the coast of Cyprus. It crashed while being flown from RAF Akrotiri, Limassol, when it plummeted into the sea on May 29 during a routine training flight. The Watchkeeper first entered service in 2014 in
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