The Central Bank of Cyprus issued a warning to people involved in cryptocurrencies or other virtual currencies, urging them to consider the high degree of risks involved. It reminded people that some crypto assets, including cryptocurrencies/virtual currencies, are “extremely dangerous and speculative”, quoting European supervisory authorities (ESAs) such as the European Banking Authority and the
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By Hussein Sayed, Chief Market Strategist at FXTM Whoever thought the robust economic figures produced by the US economy over the past few weeks would alter the Federal Reserve’s thinking, even slightly, was totally mistaken. The economy is firing on all cylinders with employment, consumer spending, manufacturing, services and the housing sector all exhibiting solid
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Younger people are proving more receptive to getting a COVID-19 vaccine than older age groups, as 39- and 40-year-olds took all 13,000 available appointments on Thursday, seeing the Health Ministry adding more. In less than an hour from the online vaccination portal going live at 7.30 am on Thursday, beneficiaries had booked all 13,000 appointments
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The UN-led Geneva summit comes to the crunch on Thursday, with Secretary-General Antonio Guterres convening a plenary session for the parties to present their positions on the way forward. According to sources, Guterres has asked the parties to reflect and meet during a new plenary session to listen to their final positions to decide if
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Parliament passing a law that established a €1 bln (4% of GDP) loan guarantee scheme is positive for Cypriot banks because it will reduce the credit risk on loans participating in the scheme, said rating agency Moody’s. It is analysis; Moody’s supported the move, as long as banks can maintain independence in their loan decisions.
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The use of fintech apps has increased more than 61% since the pandemic started, according to a study by the independent financial advisory deVere Group. The jump comes as financial technology apps show further evidence that the way we manage our finances further shifted in light of the coronavirus pandemic. “Pre-coronavirus, we were already in
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By Andreas Anastasiades Limassol continues to be the most important real estate market in Cyprus, and all available information supports this: sales, rentals, and prices. Contrary to popular opinion, the Limassol real estate market is not showing signs of saturation, and despite existing issues and occasional fluctuations, it continues to be dynamic. The repeal of
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Cyprus saw an increase in daily coronavirus cases again, rising to 845 on Wednesday, significantly higher than Tuesday’s 760, with Larnaca reporting the highest concentration rate of new infections. The health ministry said in its daily bulletin that three people died of Covid-19, with the April death toll rising to 50 and the to-date figure
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The government announced another financial support package of €120 mln, given to businesses, self-employed and the unemployed affected by restrictions in March and the lockdown in April. Financial support concerns one-off payments to businesses and self-employed whose applications for inclusion in the March schemes were approved. Finance Minister Constantinos Petrides said the cash would be
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Cyprus Interior Ministry said Wednesday it would study the findings of a damning inquiry into the passports for cash investment scheme ignominiously scrapped on 1 November. The interim findings of the probe revealed irregularities and unlawful practices, putting the spotlight on shortcomings of the Finance and Interior Ministries. The 515-page dossier, prepared by a four-member
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