. Within a matter of two weeks, a report was released in Britain on the future of a cashless society, warning that a lack of infrastructure and extensive services could not allow the complete removal of paper money, while the Bank of England also announced the new face of the 50-pound note, computer pioneer and
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By Kyriacos Kiliaris Insecurity caused by continuous changes in the foreclosures law are not only taking their toll on the country’s banks but have a broader effect on the local economy bringing down the local stock market heavily depended on banking stocks. Following the announcement of amendments to the foreclosure law voted in by parliament
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By Kyriacos Kiliaris As the tourist season is about to peak at the end of July, industrial peace is being jeopardised as hoteliers and employees are unable to see eye to eye over renewing collective agreements. Unions have sent an ultimatum to hoteliers over the deadlock in negotiations, suggesting industrial action if concessions are not
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate Valuers, Property Consultants & Estate Agents A lot of investment has been undertaken for touristic development ranging from hotels to places of entertainment (of good quality) and even more important, addressing the upgrading of staff, food and quality service. Indeed,
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DISY deputy and women’s health activist Stella Kyriakides is set to replace Christos Stylianides as Cyprus Commissioner in Brussels, President Nicos Anastasiades announced on Friday, making her one of seven female candidates proposed for the new Commission. According to a press announcement, President Anastasiades recommended that Kyriakides takes on Cyprus’ Commissioner role at the EU
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The government has signed a memorandum of understanding with local financial institutions for the implementation of the Estia scheme, which comes into effect in September, designed to bailout distressed homeowners holding toxic mortgages. During the signing ceremony on Friday, Finance Minister Harris Georgiades stated that an effective legislative framework is the backbone on which the
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Turkish Cypriot trade unions are protesting against the interim economic protocol ‘lifesaver’ from Ankara agreed earlier this week, saying that the deal is a smokescreen for Turkey to enhance its control in the north and where the native Turkish Cypriot community is diminishing. The ruling coalition signed an interim economic protocol which will see the
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By Han Tan, Market Analyst at FXTM Most Asian currencies are set to end the week on the back foot against the US Dollar, with the Dollar Index (DXY) having gained about 0.7% so far this week. The Greenback has been whipsawed lately by shifting market expectations over the scope of next week’s widely expected
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Cyprus’ bid to become an eastern Mediterranean energy hub is hindered by soaring tensions over Turkish drilling off its coast while it needs game-changing finds to spark a multi-billion-dollar gas bonanza, analysts told AFP. Turkey has vowed to escalate its activities in waters designated as a Cyprus maritime zone after the European Union agreed measures
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By Lukman Otunuga, Senior Research Analyst at FXTM Investors who were looking for a quick opportunity to attack the Euro were given the thumbs up Thursday afternoon after the European Central Bank (ECB) left the doors wide open for an interest rate cut later this year. Although interest rates were left unchanged this month, markets
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