. The first half of 2019 proved to be very eventful for financial markets and with that triggered the rally in the gold price to over USD 1,550 today. Back in June, when gold finally broke through the technical USD 1,360 barrier it has surged 22% in just under three months. The last time we
More
Cyprus’ economy expanded by 3.2% in the second quarter of 2019 on an annual basis, racking up 18 quarters of consecutive growth, official data showed Friday. Compared with the previous quarter, seasonally and working day adjusted data GDP grew by 0.8% in Q2 2019, higher than the 0.6% rate for Q1. The 3.2% annual growth
More
By Lukman Otunuga, Senior Research Analyst at FXTM A positive vibe is sweeping across financial markets Friday morning as renewed hopes for progress in US-China trade negotiations uplift global sentiment and boost investor confidence. News that Beijing and Washington officials will be holding high level trade talks in early October is certainly
More
Cyprus annual inflation rate remained in negative territory for a third consecutive month in August at -0.7% as food and energy prices dipped. In August, the Consumer Price Index increased by 0.30 units and reached 100.32 from 100.02 units in July 2019. Compared to August 2018, the CPI decreased by 0.7%. The decline was mainly
More
Cyprus tourism revenue declined 2% in June for the second month running while arrivals remain at the same high level as last year. More worryingly, the June figures are the fourth time in six months that tourist spending has been in negative territory. In May income was down by 3.6%. Income from tourism in June
More
Cyprus top-flight club Pafos FC has added another former Premier League player to its squad by signing ex-Crystal Palace striker Bakary Sako as a free agent. The 31-year-old Mali International is their second out-of-the-blue signing after securing the services of midfielder Jason Puncheon, also released by Crystal Palace. Sako’s salary was quoted by a source
More
UN envoy, Jane Holl Lute is pushing on with her shuttle diplomacy between the two Cypriots leaders in a concerted effort to get a resumption of stalled Cyprus talks despite last-minute obstacles. The UN official, who arrived at the weekend, wasn’t expected to stay this long but with an agreement in sight she has criss-crossed
More
By Lukman Otunuga, Senior Research Analyst at FXTM The dramatic Brexit showdown in Parliament is certainly keeping investors on their toes and injecting Sterling with explosive levels of volatility. It seems everyone wants a piece of the British Pound after a series of parliamentary votes sabotaged Prime Minister Boris Johnson’s attempt to push through a
More
Turkey President Recep Tayyip Erdogan has upped the ante after suggesting he would intensify drilling activity in the region by sending a third drillship to the Eastern Mediterranean where Turkish ships entered Cyprus waters. “We shall not be deterred by threats,” Erdogan said as he addressed members of his AKP party on Thursday. Brussels has
More
International credit rating agency DBRS says Cyprus is among a group of European countries in which the outstanding mortgage debt as a percentage of GDP has shrunk between 2008 and 2019. Cyprus went from 45% mortgage debt to GDP in 2008 to 41% this year. “Record low interest rates are set to persist within Europe
More