By Han Tan, Market Analyst at FXTM The first week of March has given investors more reasons to expect faster inflation. From another OPEC+ surprise which pushed oil prices higher, to the prospects of $1.9 trillion in US fiscal stimulus being approved by the weekend, to silent central banks in blackout, such a concoction of
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By Esme Palas It is not all doom and gloom for UK nationals living in Cyprus. Realizing the significant contribution of the vibrant UK nationals’ community, both to the economy and society, the Cyprus government has tried to accommodate the all-important British expat community as best it can. Despite what may appear in the press
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Cyprus saw the new cases of COVID-19 catapult to 384 on Thursday, with the number of patients also rising dramatically to 101, as schools are seen as the main cause for the spread of the infection. No deaths were reported, due mainly to the continued vaccinations of elderly and most vulnerable people, with the death
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The more potent UK variant of coronavirus has been found in nearly a quarter of samples Cyprus has sent to the European Centre for Disease Prevention and Control (ECDC) for special laboratory tests. The Health Ministry sent another 94 COVID-19 positive samples from Cyprus for sequencing SARS-CoV-2 variants. It said sequencing was successful in 47
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Vaccinations are the “main economic tool” for managing the coronavirus crisis and driving prospects of a “strong recovery” in 2021 from 3.5% to 4.5% GDP, said Finance Minister Constantinos Petrides. He said the pandemic poses an opportunity to reflect on Cyprus’ growth model, address its vulnerabilities and focus on green transition and digitalisation. Petrides addressed
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The island’s first private conventional power station will be going live in 2023, offering cheaper electricity, as work on the Power Energy Cyprus plant is moving along after some delays. The €200 mln plant, to be built by the Cyfield group, was initially earmarked to go online this year in time for the arrival of
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By Hussein Sayed, Chief Market Strategist at FXTM Asian equity markets suffered hefty losses following Wednesday’s declines in Wall Street as bond yields resumed their rally. Japan’s Nikkei 225 and Hong Kong’s HSI dropped nearly 3% with the rest of the Asian stock indices all in the red, while US stock futures show no signs
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A study of green and smart investments to boost economic resilience amid the COVID-19 slowdown showed that just over half of Cypriot enterprises cut back on investments last year. The survey of 180 firms, presented at a conference hosted by the Chamber of Commerce and Industry and the European Investment Bank, found that the pandemic
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The European Medicines Agency on Thursday started a rolling review of Russia’s once scorned Sputnik V Covid-19 vaccine to test compliance with safety and quality standards, the first major step in gaining approval for use in the EU. As the EU struggles to ramp up its rollout of coronavirus vaccines across the 27-member bloc, Russia’s
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A two-state model for Cyprus is not a real solution; Paris endorses UN resolutions providing a bizonal, bicommunal federation with political equality, new French Ambassador Salina Grenet-Catalano said. In an interview with the Cyprus News Agency (CNA), Grenet-Catalano said France wanted a reunified island inside the EU where there is no place for partition. Turkey
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