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
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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
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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
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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
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More US energy companies will operate in Cyprus to help extract rich natural gas resources, joining ExxonMobil and Noble Energy, US Ambassador Judith Garber told a business dinner in Nicosia. Garber told the American Chamber of Commerce in Cyprus that “we are proud that two American companies – ExxonMobil and Noble Energy – are participating
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* No-deal Brexit chances grow slim By Han Tan, Market Analyst at FXTM Risk appetite was given a rare opportunity to break through the gloomy clouds that hung over markets of late. Market sentiment has been boosted by news that the US and China have agreed to resume trade talks in October, while UK Prime
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Defunct Laiki Bank unsecured depositors who suffered a haircut are to receive a pittance as compensation for losing savings above the €100,000 guarantee when Cyprus’ banking system imploded in 2013. Unsecured depositors are to receive an estimated 5 to 6 cent compensation for every euro they lost in the bail-in. Administrators told MPs that income
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. By Michael Theodoulou Like many other leading journalists at the time Chris Drake, who died in Limassol on August 28 aged 76, left school at 16, determined to become a journalist by learning on the job. He started at a local newspaper in his native Devon before moving on to the Daily
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More than 70,000 trees and plants are to be planted in Cyprus over the next six months as part of government efforts to tackle climate change. "The Government is leading the way in tackling climate change through tree planting, enhancing its own efforts and supporting all initiatives being developed recently,” said Agriculture Minister Costas Kadis.
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The number of registered unemployed in Cyprus during August decreased 16.7% on an annual basis to under 20,000, official figures showed on Wednesday. Unemployed persons registered at the District Labour Offices on the last day of August reached 19,883, it was 23,866 a year ago. Based on seasonally adjusted data that show the trend of
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