Cyprus’ current account balance deteriorated in the third quarter of 2018, recording a surplus of €52 mln from €261.5 mln in the same period of 2017. According to the Central Bank of Cyprus (CBC), this development was mainly attributed to the trade balance of goods, with exports recording a decrease compared with 2017Q3 while imports
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By Lukman Otunuga, Research Analyst at FXTM The final trading week of 2018 has been explosively volatile and wildly unpredictable due to geopolitical risks. Global sentiment repeatedly swung from extremely bearish to bullish this week as investors tussled with concerns over slowing global growth, US-China trade developments, Brexit-related uncertainty and a partial US government shutdown.
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. Sometimes it feels as if Britain has already left the European Union or, at least, that all co-operation between the two has gone into cold storage until the dreaded Brexit finally takes place. Not so. The wider negotiations, between the EU and the UK, may have stalled but on a country-to-country level the normal
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President Nicos Anastasiades has announced that Savvas Perdios, Chief Operating Officer at Louis Hotels, has been appointed as the Deputy Minister for Tourism, a new post created from the restructuring of the Cyprus Tourism Organisation from a semi-state organisation to a government department. The change, one of three junior ministries announced by Anastasiades almost six
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UK holidaymakers wanting to begin the new year with a bargain winter sun trip should head to Cyprus, according to new British research. Post Office Travel Money analysis found that Paphos has the lowest cost out of 12 popular destinations for a one-week holiday package at the beginning of January plus meals and drinks. The
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By Hussein Sayed, Chief Market Strategist at FXTM Santa arrived a little later than expected this year. At one point, investors thought Santa would never show up with markets in red and bears not letting go. Suddenly, U.S. stocks began showing signs of life again after falling briefly into bear market territory on Wednesday. The
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Cypriot authorities on Tuesday picked up 19 migrants on the island’s northwest tip after being dropped off by suspect people smugglers, the Cyprus News Agency reported. It is believed the migrants arrived by boat – in the Akamas region – on Monday night before being spotted by police at around 7.30am local time on Tuesday
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The Central Bank of Cyprus (CBC) expects the Cypriot economy to maintain robust growth for another three years, while opposition parties are skeptical over such prospects, as they argue growth is circumstantial and the government is following short-sighted policies. In its December 2018 quarterly economic bulletin, the CBC said that growth will reach 3.8% in
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It will be a mild Christmas this year with the day in Cyprus being mainly sunny on Tuesday with periods of cloudy skies. The temperature will be above the seasonal average and rise to around 18 degrees Celsius inland and on the coast and around 9 degrees on higher ground. On Christmas Day, the weather
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. It’s difficult to fathom what kind of a year this has been for Cyprus as like most of us we gained a little and lost a little on our journey through the year. For some of us 2018 would have brought some life-changing moments but for most this year would have seemed a lot
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