. Optimism returned to Cyprus, as Nicosia announced not only a strengthening of regional security cooperation with its neighbours but also announced a $9.3 bln natural gas development plan with international oil companies, such as Shell, US-based Noble and Israel’s Delek. The 18-year deal between Cyprus and the consortium comes after the cabinet approved a
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The collapse of British air and tour operator Thomas Cook sent alarm bells in the tourism industry in Cyprus and Greece, with Cypriot hoteliers facing a €50 mln shortfall due to the inability of the group to meet its obligations. The Thomas Cook collapse will have major negative repercussions for hotels and local tour operators
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Turkish President Tayyip Erdogan warned the European Union that sanctioning Turkey over drilling off Cyprus could derail ties with the bloc while Ankara may send captured Islamic State fighters to Europe. EU foreign ministers on Monday agreed targeted economic sanctions on Ankara for violating Cyprus’ maritime economic zone by drilling off the divided island. Turkey,
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Revenue from Cyprus tourism edged up 0.8% in August reaching €431.6 mln on the same month last year, in the first increase since April. For the 8 months to August 2019 income from tourism declined 1.7% to €1.85 bln from €1.88 bln in the same period of 2018, according to official figures. Expenditure per person
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By Lukman Otunuga, Senior Research Analyst at FXTM Caution is set to dominate financial markets on Tuesday as investors juggle with trade uncertainty and tensions in Hong Kong. The general tone of markets remains cautiously optimistic over the United States and China signing a “phase one” trade deal. However, this sentiment continues to be tested
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Cyprus MPs are joining forces to challenge banks over increased charges they deem to be “merely punishing consumers who do not have the skills or the means to carry out their transactions online”. MPs will send a letter to the Banking Association and the Finance Ministry demanding that banks recall their decision to impose “punitive
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Cyprus President Nicos Anastasiades said he is satisfied with a decision by the EU Foreign Affairs Council to adopt targeted sanctions as a response to Turkey’s incursion in the island’s exclusive economic zone. In a tweet, President Anastasiades said he was satisfied with the EU decision as it “supports the sovereign rights of the Republic
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. So, here we are dear readers, now we have received the bill of €1,200,000 for foreign companies to carry out the due diligence investigations regarding the passports issue (as we are not doing a good job ourselves). This bill, should, in our opinion, be covered by the developers/agents/advocates who are the primary beneficiaries of
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Significant progress achieved in the Cyprus investment funds industry was highlighted at an International Funds Summit in Nicosia with 580 participants. “Cyprus has not only been able to make an entry to this promising and dynamic industry, but it has actually been able to register a steady and impressive growth,” said Finance Minister Harris Georgiades
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. By Pedro Sánchez In 1978, Spain created and ratified a fully democratic constitution. That historic document was endorsed by almost 88% of voters in a referendum. In Catalonia, where turnout was nearly equal, support was even higher: some 90.5% of Catalans backed the new Constitution. Spain thus escaped the long and dark shadow
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