By Hussein Sayed, Chief Market Strategist at FXTM Markets have been on a roller coaster ride this week. The S&P 500 and Nasdaq 100 have had daily average moves of 1.65% and 2%, respectively, and while the Chicago Board Options Exchange’s (Cboe) volatility index has cooled down slightly from the highs reached on Tuesday, it
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Health authorities launched Thursday a second 3,000 random COVID-19 testing scheme in Larnaca and Famagusta villages after a spike in coronavirus cases fuelled by major clusters in the districts. The testing scheme is being carried out by mobile testing units which will visit communities chosen on the basis of epidemiological and demographic criteria. Some of
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Cyprus’ Finance Ministry forecasts a budget deficit until 2023, due to crisis support measures and a spike in public debt from borrowing to soften the impact of coronavirus. The cabinet on Wednesday approved a state budget for 2021 that includes €600 mln in ‘emergency’ funds due to the pandemic. Finance Minister Constantinos Petrides told reporters
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There are high concentrations of dust recorded in the skies over Cyprus on Thursday, according to measurements of the Air Quality Monitoring Network. Limassol and Paphos are towns with the highest concentration of dust in the air which adds to the discomfort as the weather is also warmer than usual for this time of year. Authorities
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On a wave of unprecedented Israeli-Arab normalization, which led to agreements with UAE and Bahrain, analysts are now focusing on the high-profile Israel-Lebanon negotiations. It is set up as a framework agreement for the delineation of maritime borders between the two countries, until now officially at war. Both countries, most probably pressured by Washington, France,
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By Vanora Bennett The European Bank for Reconstruction and Development (EBRD) is reinforcing its position as a leader in green finance with an ambitious plan to broaden and deepen its climate activities and become a majority green bank by 2025. The EBRD’s new Green Economy Transition (GET) approach for 2021-25 forms part of the Bank’s overall
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The Cyprus House Price Index (HPI) decreased 2.9% in the second quarter from a year ago, marking the biggest annual drop since Q1 2014, according to a Statistical Service preliminary estimate. The HPI for Q2 2020 was 109.48 units, down from 112.73 in the same period of 2019. Compared to the first quarter of 2020,
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A man with no underlying health conditions has died, the second death in as many days, with a further 21 new cases of Covid-19 reported on Wednesday, raising the total number of infections in Cyprus to 1,897. The health ministry said that the latest coronavirus victim was a 62 year old man who was being
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Cyprus’ COVID-19 situation is satisfactory but fragile with Health Minister Constantinos Ioannou worried that things could get out of hand if protocols are not followed. Ioannou told a press conference Wednesday, that while health authorities expect a rise in COVID-19 cases, especially as winter draws nearer, there is concern about the epidemiological analysis of infections.
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Cyprus President Nicos Anastasiades will raise the issue of Turkey re-opening fenced-off Varosha at the next European Council summit on October 14-15. Government spokesman Kyriakos Koushos said Wednesday that recourse has already been filed to the UN Security Council with the government making representations to EU institutions. Asked if Nicosia will pursue sanctions against Turkey
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