Cypriot authorities said Wednesday that 47 Syrian migrants were picked up on the island’s northwest tip after being dropped off by suspect people smugglers. It is believed the migrants arrived by boat from Turkey – in the Tyllirias region – just after midnight on Wednesday but there was no sign of the boat when officers
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By Lukman Otunuga, Research Analyst at FXTM Investors are poised to remain heavily guarded and alert this week after a brutal selloff that began in the US technology sector spread like a virus across equity markets. The tech-driven market selloff witnessed in recent days is likely to stimulate concerns over the bull-run finally coming to
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Exports drove Cyprus’ trade deficit down by €314 mln in the first eight months of the year, figures released by the Statistical Service on Wednesday showed. The trade deficit declined to €2.64 bln in January-August from €2.96 bln in the same period of 2017. Total imports in January-August reached €5.92 bln compared with €5.02 bln
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In Cyprus, the per capita generation of municipal solid waste in 2016 reached 642 kg, which is the second highest among EU member states. And most of the waste generated is not recycled but goes into landfill sites. Denmark has the highest per capita generation of municipal solid waste (777 kg), while Cyprus was followed
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Ryanair has announced a new route from Paphos to Kyiv with a twice weekly service from April as part of the low-cost carrier’s Summer 2019 schedule. Ryanair said its full Paphos Summer 2019 schedule will be unveiled soon. To celebrate its new Kiev route, Ryanair has launched a seat sale, with seats on this new
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Nicosia Mall, the largest retail shopping centre on the island with 140 stores, food halls and parking for 1,700 cars, opened its doors on Wednesday, just in time for the Black Friday consumer frenzy and pre-Christmas rush. At 48,000 sq.m., the mall houses the usual clothing and apparel stores, as well as the
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Challenges arising from the refugee and migrant crisis need to be tackled collectively by EU member states, said Cyprus Interior Minister Constantinos Petrides. Addressing an event of the Monitoring Committees of the EU Home Affairs Funds 2014 – 2020, in Nicosia, Petrides said that Cyprus has always been a host country for refugees. But recently
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Among highly indebted European sovereigns, Cyprus is most exposed to credit risks related to high household debt because it has a small economy, weak banking sector, and very elevated public and private debt levels, a Moody's report said on Tuesday. European countries that are more economically resilient are able to carry higher and rising household
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By Hussein Sayed, Chief Market Strategist at FXTM What was expected to be a muted trading week ahead of the Thanksgiving holiday in the U.S. turned out to be a massive selloff in the equity markets led by the Tech sector. The Dow Jones Industrial Average plunged 395 points on Monday, while the S&P 500
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Hellenic Bank sees Cyprus’ macroeconomic outlook as positive projecting baseline GDP growth at 4% this year and 3.9% in 2019. In its economic review, the bank says that “the recovery phase has passed, and the economy is now entering its growth phase.” “Cyprus’ macroeconomic outlook is positive and is accompanied by a significant increase in
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