Hackers – linked to China – infiltrated the European Union’s diplomatic communications network, downloading thousands of cables by entering the system through a routine Cyber-attack on Cyprus, according to the New York Times. It said the techniques that the hackers deployed over a three-year period resembled those long used by an elite unit of China’s
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The Cyprus Stock Exchange is diversifying into the energy sector by taking a 10% stake in the Greek Energy Exchange Group (EnEx), the new platform set up for the trade of derivatives and intra-day electricity contracts. The strategic investment, at a cost of EUR 500,000, will also secure the CSE a seat on the EnEx
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The UK and Cyprus on Wednesday agreed an amendment to the 2018 Double Taxation Convention in response to concerns by British nationals about one of its provisions in respect of government service pensions. The amendment will allow individuals to choose which basis of taxation they want to apply to their government service pensions. This choice
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By Lukman Otunuga, Research Analyst at FXTM A sense of caution and unease continues to linger across financial markets on Wednesday morning as jittery investors brace for the Federal Reserve’s interest rate decision later in the day. Equity markets are poised to remain turbulent for the rest of the week thanks to global growth
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Ferry and shipping freight operator P&O is reviewing its UK-registered fleet and is already re-flagging two vessels to keep European Union tax arrangements ahead of Britain's departure from the bloc, the company said. A P&O spokesman said two of its UK ships operating on the English Channel route to France would be re-flagged to Cyprus
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Energy issues and regional developments will top the agenda during the Cyprus-Greece-Israel Trilateral Summit, to be held on Thursday in the Israeli city of Beer Sheva. According to an announcement, Cyprus President Nicos Anastasiades departs on Wednesday for Israel to attend the Summit with Israeli Prime Minister Benjamin Netanyahu and Greek PM Alexis Tsipras. Anastasiades
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Since casinos started operating in the Republic of Cyprus the biggest winner has received €500,000 playing roulette at the casino in Limassol while the unluckiest loser has lost €130,000 also on the wheel of fortune. ‘Both times were on the roulette in Limassol which is the biggest source of revenue from a casino table game
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. You pays your money and you takes your choice: the old cry of the Cockney market vendor could be good advice for British expats pondering the social insurance system in Cyprus. You’ll pay your money, come what may, but you will need to pay some more if you want a choice. The Republic of
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By Hussein Sayed, Chief Market Strategist at FXTM December 2018 has so far been one of the ugliest Decembers in U.S. stock market history. The S&P 500 declined 7.8% within ten trading days and experienced the worst two-day selloff since October. Cheaper valuations, the U.S.-China trade truce, and dovish Fed commentary were not enough to
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Due to an improved export drive Cyprus saw its trade deficit shrink by €500 mln to €3.4 bln from a year ago, EU data indicates. The value of Cyprus exports stood at €4 bln in the 10-month period to October, representing an increase of 56% compared to the same period of 2017. Broken down, the
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