Household electricity prices in Cyprus are among the ten most expensive in the EU, Eurostat data shows. In the first half of 2018, Cypriots paid EUR 0.1893 euro per a kWh of electricity, including EUR 0.448 in taxes and levies – ranking it tenth in the 28-member bloc. The highest electricity prices were paid in
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By Lukman Otunuga, Research Analyst at FXTM The battered Pound was attacked from all angles by investors on Tuesday after President Donald Trump criticised Theresa May’s Brexit deal. According to Trump, the current agreement “sounds like a great deal for the EU”, but indicated it could obstruct future plans for a UK-US trade deal. These
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When it comes to online shopping Cyprus is near the end of the queue with only 39% of Cypriots making a virtual purchase, according to a Eurostat survey. According to Eurostat, there is an increase in the number of online shoppers in the EU as 68% of people had used the internet to purchase at
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Increasing Cyprus’ capacity to absorb more funds from the pool of EU competitive programmes is a top priority, as this would Improve the island’s growth prospects, Minister of Finance Harris Georgiades said. Addressing an event co-hosted by the EU Commission representation to Cyprus and Directorate General for European Programmes, Coordination and Development, Georgiades said the
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The Shipping Deputy Ministry and the Marine Club, supported by the Photographic Society have officially launched a photo competition entitled: “Cyprus: The Shipping Star of the Mediterranean” The photo competition has the dual purpose of further raising public awareness regarding Cyprus shipping, while at the same time enriching the archive of images available to the
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President Nicos Anastasiades said the government has taken a series of actions and decisions to enhance the research and innovation ecosystem in Cyprus. He was addressing the 2018 Research and Innovation Awards, presented by the Employers’ and Industrialists’ Federation (OEB) and the Research Promotion Foundation for the 12th consecutive year. The President acknowledged that
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By Hussein Sayed, Chief Market Strategist at FXTM Monday’s rally in U.S. equities showed that the mood has shifted following last week’s selloff. All three major indices rebounded strongly led by beaten-down Tech, Retail and Financial sectors. The Dow Jones Industrial Average closed near its day’s high posting 354 points in gains, while the S&P
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Construction of the EastMed gas pipeline has reportedly received the green light from Cyprus, Greece, Italy and Israel, while Nicosia has confirmed that the sides are close to a deal. Times of Israel reported that the sides have overcome previous difficulties faced in the negotiation process and are ready to go ahead with presenting the
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Following the closure of J&P Overseas and its subsidiaries, the Ministry of Foreign Affairs is reaching out to around 200 unemployed Cypriot workers stuck in Saudi Arabia, with a diplomat flying to Riyadh on Monday. Minister of Foreign Affairs, Nikos Christodoulides, has instructed his Acting Permanent Secretary, Ambassador Marios Ieronymides to conduct face-to-face meetings with
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Energy giants Total and Eni have submitted a joint bid for another license to explore and exploit oil and gas offshore Cyprus despite warnings from Turkey, Cypriot authorities said Monday. In October, Cyprus decided to invite France’s Total, Italy’s Eni and ExxonMobil to bid for unclaimed block 7 of its exclusive Economic Zone (EEZ). “An
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