Two Syrians will appear in court on Tuesday suspected of helping to smuggle 131 migrants to Cyprus who arrived on the island on a boat from Turkey. Cyprus police said Monday they towed to shore 131 migrants, almost all from Syria, after they were sighted on an overcrowded boat off the island's northwest tip near
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By Han Tan, Market Analyst at FXTM Risk-on sentiment is coursing through Asian markets, amid news reports that the US is considering lifting some of the tariffs currently imposed on $112 bln worth of Chinese goods. Asian stocks and currencies are mostly higher, while the Japanese Yen has weakened 0.17% towards the 109 psychological level
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. Investors and the global economy are facing an environment with flat to inverted yield curves which is often a signal of a looming global recession. The global stock of negative-yielding debt is now in excess of US$ 17 trillion. Stock valuations are at extreme levels especially when compared to the level of
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Former Cyprus Interior Minister Socrates Hasikos said the government should revoke the passport given to a Malaysian fugitive, wanted for one of the biggest financial scams in history. Hasikos, who served as Interior Minister when the passport was issued in 2015 Low Taek Jho, said the government was not aware of any wrongdoing at the
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By Hussein Sayed, Chief Market Strategist at FXTM US stocks reached a new record high on Friday, with the S&P 500 closing at 3,066.9 after solid employment data showed the US economy added 128,000 jobs last month from September’s upwardly revised 180,000. Sentiment also received a boost after a statement from US trade representative Robert
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Greece’s Energean announced the successful appraisal of Israel’s Karish North Discovery, confirming best estimate recoverable gas resources of 0.9 Tcf (25 BCM) plus 34 mln barrels of light oil. The oil and gas producer focused on the Mediterranean, said the appraisal “significantly enhances Energean’s discovered resource volumes across its Karish and Tanin leases”. “Volumes are
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Despite Cyprus containing the fallout from the collapse of UK tour operator Thomas Cook, Paphos has taken a huge hit with a majority (64%) of hotels shutting down for the winter season. While winter tourism has been picking up over the past few years, Paphos seems to be going into lockdown as 68 out of
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Cyprus municipalities have given the green light to a key government reform of Local Authorities that will see their bloated number shrink. The reform bill seeks to halve the number of municipalities from 30 to 15 giving them broader powers and more funds while cutting down on waste and inefficiency. The final decision on which
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Cyprus is not only failing to reduce CO2 emissions; it tops the EU list for the highest use of petrol-powered cars at 84% with electric vehicles nowhere to be seen in the transport mix. While Cyprus is king of petrol-guzzling cars, when it comes to alternative fuels, just 1% of vehicles run on alternative fuel
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. After pending for 8 years a proposed Famagusta region golf course seems to have a chance of getting the go-ahead (be it that it will take another 1-2 years to have the proposal preparation and the final decision to follow). Much of the delay was caused by the developers themselves who originally submitted a
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