By Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM Another round of astonishingly weak economic data out of Europe on Monday morning has resulted in major markets trending lower, with the German DAX leading the line of selling with losses close to 1.6%. The Euro Stoxx 50, CAC 40 Market Index
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Cyprus spends 0.8% of total expenditure (€59.8 mln) on recreation and sport putting it above the EU average of 0.7% but behind biggest spender Hungary. In 2017, the EU's 28 Member States spent €51.3 bln of government expenditure on recreation and sport. Overall, the general government expenditure on recreation and sport has remained stable as
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Cyprus Airways has officially signed an interline agreement with the Greek-based carrier, Sky Express to connect with 29 destinations across Greece. The agreement, effective from September, will offer more travel opportunities to Cyprus Airways passengers as they can continue their journey from Athens or Thessaloniki to other destinations in Greece or the Greek islands. Passengers
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Cyprus tourism has suffered a “serious blow” following the collapse of British travel group Thomas Cook that stranded 15,000 tourists on the island with future lost revenue close to €200 mln. Tourism Deputy Minister Savvas Perdios 250,000 tourists visited Cyprus annually on Thomas Cook packages spending €188 mln. “This is a serious blow to tourism
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Cyprus is planning to bring the country closer to meeting its 2020 EU environmental targets by encouraging more people to drive electric cars. Reportedly, the government is preparing a set of incentive schemes for consumers to replace old vehicles with newer, cleaner cars, in an effort to clamp down on emissions in transport. Brussels is
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Beautiful mosaics decorating the floor of an early Christian basilica at Ayia Triada, in Cyprus’ Karpas peninsula and Ayios Philon Byzantine church were restored after decades of neglect, as a result of Greek and Turkish Cypriot cooperation. Stabilization and conservation works at the two sites, carried out by archeologists and conservationists from both communities, were
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By Hussein Sayed, Chief Market Strategist at FXTM Investors are having a difficult time assessing the current economic and financial environment, hence making it hard to manage their portfolios. While risk appetite was supported by central bank easing, particularly from the European Central Bank and the Federal Reserve, two major factors that remained unresolved are
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. Impact of the wake-up call by the drone attack on the Saudi gas-oil separation plant (GOSP) of Abqaiq should reverberate into discussions of the East Med partners. Until now discussions between Greece, Cyprus, Egypt and Israel, have always been largely focused on regional strategy for the exploration, production and export of their offshore natural
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Thousands of holidaymakers were left stranded in Cyprus as the world’s oldest travel firm Thomas Cook collapsed on Monday with the UK government scrambling to fly them home. The collapse of the UK travel firm, which ran hotels, resorts and airlines carrying a reportedly 19 million people a year to 16 countries, is set to
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By Kyriacos Kiliaris Residents from villages near a gold refinery plant operating in an old mine 50 km west of Nicosia are concerned about chemicals used, which they fear could be harmful to their health. But Hellenic Copper Mines, operator of the century-old mine that in the past was the island’s biggest exporter and employer,
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