Cyprus’ forex industry has been rattled by €15 mln trading fraud, forcing two Limassol-based firms out of business, while more than 2,000 people employed have lost their jobs in recent weeks. Industry sources said recent revelations implicate at least two Limassol based companies, with close to 2,500 employees left without a job. The island’s forex
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For those interested in buying real estate through electronic auctions, we keep noting various scams which surface, with the result being the unsuspecting public or buyers being the victims. Initially, the auction is published, giving the public as little information as possible, including a reserved fee for the auction (usually 10-15% of the reserved price).
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New FinTech players are entering the market, presenting end-users with compelling solutions. Innovation appears to be coming from outside the traditional banking sector, especially for mobile and internet payments. FinTech companies offer cost-efficient, safe, and reliable payment systems and services. Electronic money institutions (EMIs) encourage new payment methods and services as long as they are
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Cyprus reported no coronavirus deaths on Friday for the twelfth day this month, with the number of hospitalisations rising marginally to 60, and new daily cases up to 160. The health ministry said in its daily Covid report that the death toll since the pandemic started remained at 571, of whom 17 died in October.
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Real GDP growth is projected at 5.4% in 2021 and 4.1% in 2022, upward revisions mainly driven by the strengthening recovery during the second quarter of this year, according to the University of Cyprus. The university’s monthly economic outlook for October, compiled by the Economics Research Centre, cited further improvements in leading indicators in the
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Limassol Marina has built a strong reputation among social media users, recently ranked in the top ten most Instagrammable marinas, along with Dubai. Comparethemarket.com, one of the UK’s leading price comparison websites, ranked the Limassol marina sixth of the most Instagrammed marinas worldwide based on the number of hashtags. With its known skyscrapers in the
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The NFT market has sprung back to life and is hitting record after new record, following a couple of relatively dormant months, with searches skyrocketing on sites such as Google. The resurgence in non-fungible tokens (NFT) has served to disprove multiple obituaries written for the space after it plummeted from its meteoric highs in early 2021.
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Cyprus’ COVID infection rate has taken a turn for the worse, following months of steady decline, after the Health Ministry said the two-week cumulative case diagnosis rate stands at 204.4 per 100,000. The island’s cumulative notification rate had shot up by 35% compared to data released in the previous national report for 28 September –
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A total of six people have been arrested in connection to an alleged plot to attack Israeli businesspeople in Cyprus, including the main suspect, an Azeri national who appears to be the mastermind of the ‘operation’. A 21-year-old foreign national is the latest of five people arrested in connection with the highly sensitive case. He
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A total of 51% of plastic packaging waste generated in Cyprus is recycled, compared to 41% of the EU average, according to data published by Eurostat. In 2019, each person living in the EU generated 34.4 kg of plastic packaging waste, of which 14.1 kg was recycled. Between 2009 and 2019, the volume of plastic
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