An Audit Office probe into the citizenship for investment scheme said the process lacked due diligence while it should cease offering family members of wealthy investors a Cyprus passport. It said handing passports to investors’ family members who haven’t contributed “a single euro” to the economy cheats state coffers. The office said “thousands” of wealthy
More
By Han Tan, Market Analyst at FXTM Asian stocks and currencies are set to enjoy some relief before the end of the trading week, taking their cue from Wall Street’s advances on Thursday. US and European equity futures are pointing to gains at their respective opens, while the Dollar’s hold of the 94.0 handle is
More
The 2020/2021 Premier League is already underway in what is shaping up to be an exciting season as the league tries to fit in a full season despite a delay due to Covid-19. The pandemic also made many clubs face tough financial decisions as the economic repercussions of the virus began to take hold, a
More
EuroAsia Interconnector, the Israel-Cyprus-Greece cable that will transmit 1,000MW of electricity from the eastern Mediterranean to energy-hungry Europe, has recruited Nobel economics laureate Sir Christopher Pissarides to head its ‘economic council’ advisory board. The project developer of the 1,208km subsea high-voltage DC link will be ready by December 2023, ending the energy isolation of Cyprus
More
Health authorities announced nine new cases of Covid-19 on Thursday, five of which were linked to earlier discovered clusters, while the rapid rate of infections that has so far stormed through three first division football clubs, seems to be subsiding. The ministry of health said it conducted 2,893 lab tests during the past 24 hours
More
Cyprus Health Minister Constantinos Ioannou took a shot at two football clubs which have turned into hotspots for the coronavirus with 43 cases, blaming them for ignoring COVID protocols. After clusters of coronavirus cases formed among players and staff, including their families at first division clubs Ethnikos Achnas (21) and Nea Salamina (23), Ioannou held
More
Cypriots seeking an off-season holiday have an enriched selection of hotels to choose with 180 hotel units offering discounted prices to locals during the pandemic. The Deputy Ministry of Tourism has announced an additional 80 tourist accommodation units added to the initial 96. With hotels participating in the scheme will offer lower prices for the
More
There is growing concern among scientists that the spike in COVID-19 cases in Larnaca is a forewarning the virus will spread across Cyprus as businesses, society have let their guard down. Assistant Professor in infection prevention at the European University and government advisor Constantinos Tsioutis fear the outbreak could spread as people have ignored health
More
By Hussein Sayed, Chief Market Strategist at FXTM Equity markets sold off aggressively on Wednesday dragging the S&P 500 lower by 2.4%, while the index is now down nearly 9% from its record high at the start of the month. We are almost in correction territory for the world’s most followed stock market, which is
More
For its size, Cyprus had the highest rate of registered first-time asylum applicants in the EU during the second quarter of 2020 with 989 per million population, followed by Slovenia (441) and Greece (376), according to Eurostat. Cyprus is handling nearly 10 times the EU average in first-time claims. The majority of first-time asylum seekers
More
