Mechanisms to establish trilateral cooperation between Cyprus, Greece and Israel on the Diaspora is becoming a reality, said Presidential Commissioner Photis Photiou. In statements after a meeting with young people from the three countries taking part in a Trilateral Youth Conference in Nicosia, Photiou said that he feels “very proud” of this coming together. “I
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S&P Global Ratings in its annual report on RCB Bank, confirmed its “BB-/B” long- and short-term counterparty credit ratings with stable outlook. “RCB continues to hold the highest rating level amongst Cypriot banks,” said the bank in a statement. “RCB Bank’s strengths, such as strong capitalization, good asset quality, as well as good profitability through
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By Han Tan, Market Analyst at FXTM The Pound fell by over one percent by Wednesday noon before paring losses, with GBPUSD sinking to sub-1.22 levels, while GBPEUR dipped below the 1.10 mark, following news that the UK government is seeking to suspend Parliament from the week of September 9 until mid-October. Such an event
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Cyprus has the unique opportunity to choose a name to be given to an exoplanet, following the Cyprus Space Exploration Organisation’s (CSEO) accession to the International Astronomical Union (IAU). According to CNA, a campaign will start soon involving the people of Cyprus, with more details about the exoplanet such as its distance from the Earth
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Cyprus has one of the highest net oil import dependency rates in Europe at 101%, although Estonia tops the EU list at 115%. Other countries with a higher dependency rate than Cyprus were; Malta (104%), Slovenia (103%) and Bulgaria (102%). In 2017 the EU relied on net imports for 87% of its oil consumption. This
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By Han Tan, Market Analyst at FXTM Asian equities are mixed, as markets await the next event that will sway risk sentiment. The Dollar is stronger against all its G10 peers, while Asian currencies are experiencing contrasting fortunes against the Greenback. The relative lull in the markets now belies investors’ anxiousness who are fretting over
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. A PUZZLING news story popped into my social media feed last week. It announced that the New Zealand government had introduced rules for the payment of salaries in cryptocurrencies and that this had been widely welcomed. Why on earth, I wondered, would anyone want to be paid in a highly volatile asset that regularly
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A multi-billion-dollar revised development and production plan for exploiting the Aphrodite gas field within six years is expected to be received by the government within days, said Energy Minister Giorgos Lakkotrypis. According to the timeframes given by the consortium, the gas field is expected to produce natural gas by 2025. Cyprus expects to earn $9.3
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Cyprus expects to start importing natural gas for power production in late 2021 if its complex tender procedure goes according to plan. The Cyprus Natural Gas Public Company (DEFA), announced last week that a Chinese-led consortium is the preferred bidder for the construction of a €300 mln LNG import terminal and related infrastructure. DEFA Chairman
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The island’s biggest lender Bank of Cyprus has posted after tax profits of €2 mln in Q2 2019 and €97 mln for the first six months to June as it forges ahead with reducing bad debt and a new CEO. The Bank said the non-performing exposure (NPE) ratio was reduced to 33%, while coverage increased
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