Turkey has strongly warned Cyprus not to go ahead with exploiting block 7 after licenses were issued to a consortium of France’s Total and Italy’s Eni. Turkish Foreign Ministry Spokesman Hami Aksoy claimed block 7 overlaps a section of Turkey's continental shelf. "Part of the so-called license area Number 7 — as we have repeatedly
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By Han Tan, Market Analyst at FXTM The Pound has surged past the psychologically-important 1.25 level, reaching its highest in two months versus the Dollar, on hopes that a Brexit deal can be reached before the October 31 deadline. With the European Commission President Jean-Claude Juncker reportedly saying that he’s doing “everything” to deter a
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Scientists raised concerns over public health risks from the implementation of a 5G mobile Cyprus network during a discussion in parliament with MPs. While according to EU directives, Cyprus must issue 5G broadband licenses by the end of 2020, scientists and health specialist attending a joint meeting of the Environment and Health Committees told MPs
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. The break-up of the present system regulating international trade is well underway. It is not just Donald Trump who is unhappy with the present system. The statement released by the G7 largest industrial countries at their last meeting called for the elimination of “unfair trade practices”. What is the cause of such dissatisfaction?. Trade
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Cyprus is the first European Union member to host the European Asylum Support Office permanently to help Nicosia cope with a sharp spike in migrants. Cypriot Interior Minister Constantinos Petrides said Cyprus is the first country among the 28 EU states to sign a hosting agreement for expert assistance from the EASO as its asylum
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Hellenic Bank has announced it will close down more branches by the end of 2020, despite criticism it is abandoning rural communities that need them most. Talking to MPs of the House’s Audit Committee, Hellenic general manager George Karagiorgis said the bank intends to close more branches following the closure of 43 Co-op outlets acquired
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The British High Commission has welcomed Nicosia’s decision to extend the deadline for UK nationals living in Cyprus to apply for residency in the advent of a no-deal Brexit. Nicosia decided that in the case of a no-deal Brexit, UK nationals and their family members resident in Cyprus before 31 October 2019, retain the right
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By Hussein Sayed, Chief Market Strategist at FXTM The Federal Reserve cut its main target interest rate for the second time in 2019. The 25-basis point cut to a range of 1.75% to 2% was widely anticipated by markets. However, this didn’t move the Dollar lower as the FOMC statement and economic projections made it
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Cyprus’ 2020 state budget forecasts slower GDP economic growth of 2.9% next year and a fiscal surplus of 2.7%. The 2020 state budget, approved by the Cabinet, is balanced with a fiscal surplus, said Finance Minister Harris Georgiades. It foresees a fiscal surplus of 2.7% and a primary surplus of 5.1%. Due to the state
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UN chief Antonio Guterres said it is imperative Cypriot leaders quickly reach an agreement on the terms of reference to revive frozen peace talks that will have a different outcome from past failures. During a media conference ahead of the 74th UN General Assembly, Guterres said: “It’s very important to quickly come to an agreement
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