Turkey will not waiver in defying international opinion by continuing to illegally explore for hydrocarbons off Cyprus, Turkish President Recep Tayyip Erdogan has vowed. "No project ignoring Turkey, or the Turkish Republic of Northern Cyprus can be realized in the Eastern Mediterranean," Erdogan warned. “We are continuing right now the exploration activities and will continue
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By Han Tan, Market Analyst at FXTM Asian stocks are set to end the week on a slightly positive note, despite the S&P 500 closing little changed, as investors eagerly await potential policy signals by Fed Chair Jerome Powell later Friday. Currently, markets fully expect US interest rates to be lowered again in September, while
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Maltese-owned Cyprus telecoms firm Cablenet has seen profits increase while its customer base expanded by 9% to over 66,500 subscribers. GO Plc is Malta’s leading integrated telecommunications services provider posted Cablenet’s results in its interim financial statement January – June 2019. The group operates in Cyprus through its 51% shareholding in Cablenet which provides broadband,
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In an effort to deflect criticism from the EU and other international bodies over its Citizenship by Investment scheme, Nicosia has further tightened rules for foreign investors eyeing a Cyprus passport. Cabinet has accepted an Interior Ministry proposal to exclude investors with a high-risk profile from the programme, identified through due diligence procedures carried out
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New UK Minister for Europe, Christopher Pincher, has declared the British government’s support for the Cyprus peace process and wants to deepen the relationship between London and Nicosia. In a letter to the President of the National Federation of Cypriots in the UK Christos Karaolis, Pincher stated that the UK greatly values the relationship with
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Among EU Member States which generated the most municipal waste per person Cyprus (637 kg) was second behind Denmark (781 kg), with Germany (633 kg) in third place. At the other end of the scale, three EU countries generated less than 350 kg of municipal waste per person in 2017: Romania (272 kg per person),
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September is critical for the tourist industry as Cyprus Tourism Minister Savvas Perdios expects to confirm an increase in flights to the holiday island for 2020 and results to attract more Germans to be successful. “I am hoping that in September we will be in a position to announce specific actions which will seek to
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The state funded Estia scheme to help borrowers with toxic mortgages will launch in September to help reduce Cyprus’ bad debt mountain. Estia is a special government scheme drawn up by the Ministry of Finance to enable struggling borrowers to repay their loans by subsidising part of the repayment instalments of a restructured loan. Government
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By Hussein Sayed, Chief Market Strategist at FXTM US equity markets enjoyed another day of rally on Wednesday, although FOMC minutes indicated divergence in views within the central bank members. The S&P 500 climbed 0.82% while the Dow Jones Industrial Average added 240 points. The positive mood was supported by earning results from retailers after
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A rare five-month-old Mediterranean monk seal found dead off the Paphos coast in May most probably died of acute stress, according to experts. Aphrodite, a female seal, was found dead in May on a beach several kilometres from its den near the Tomb of the Kings. It was first believed that the seal died after
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