The growth rate of the Cyprus economy is expected to slow down over the next two years, despite enjoying near-4% levels of increase in the gross domestic product (GDP), according to the latest European Commission Winter 2019 Economic Forecast. This is also in line with the general mood in the rest of the European Union,
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Limassol-based Simplex, a leading provider of premium carrier-neutral data centre services and a leading enterprise IT integrator, has been named Cisco Premier Partner of the Year for Cyprus during the regional Cisco Partner Awards ceremony in Athens. The awards recognise the top performing Cisco partners within each country for their achievement in delivering business goals,
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Cyprus needs to develop a mechanism for tackling and preventing corruption in the judiciary system, said Gianluca Esposito, Executive Secretary of the Council of Europe’s anti-corruption body GRECO, during an ad hoc visit to Nicosia on Thursday. Making it clear that the body’s recommendations are binding on Member States participating in GRECO (Group of States
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The countdown for the construction of the €550 mln City of Dreams Mediterranean casino has begun as the operator-owner of the resort is set to announce the preferred bidder within “a few days”. Sources close to the deal told the Financial Mirror that City of Dreams Mediterranean and Cyprus Casinos Ltd is close to making
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By Hussein Sayed, Chief Market Strategist at FXTM After a robust performance in 2018, the Dollar’s rally was expected to come under significant pressure going into 2019. Well, that may not be so true. Factors that supported the U.S. currency last year were numerous, including robust economic expansion, fiscal stimulus which boosted yields in treasury
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Property sales to foreigners saw an 8% drop in the first month of the year, following a downward trend that saw year-on-year deals drop by nearly half the previous month. The number property purchases made by European citizens and third-country nationals saw an 8% drop in January 2019, compared to the same month last year,
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By Lukman Otunuga, Research Analyst at FXTM It is shaping up to be a dull day for financial markets with equities across the world struggling for direction due to a lack of fresh catalysts. Stocks in Asia witnessed another muted session on Wednesday as many markets in the region remain closed for the Lunar New
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Hellas Sat 4, the joint Greek and Cypriot high-capacity communications satellite owned by Arabsat, was successfully launched into orbit on Tuesday, on board ArianeSpace’s first launch of the year from the Spaceport in French Guiana. The launch of the satellite opens a new chapter in the space history for Cyprus and Greece, Communications and Transport Minister
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Bank of Cyprus has sold a portfolio of non-performing loans worth about €34 mln to APS Holding a.s., the distressed assets and property management firm and debt recovery company that took over Hellenic Bank’s toxic loans in July 2017. The portfolio dubbed “Velocity”, with a nominal value of €245 mln of mostly small loans to
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Hoteliers and the Paphos Regional Board of Tourism (ETAP) are worried over the gap created following the closure of low-cost air carrier Germania and the loss of some 45,000 tourists that arrived from Germany last year. The company declared bankruptcy on Tuesday cancelling all flights, including six flights a week to Paphos airport, and four
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