The current volatility in global equity markets does not signal the end of the remarkable decade-long bull market run, according to Momentum Investment Director Glyn Owen. Owen sounded a note of calm after financial markets suffered another bout of serious jitters, partly driven by concerns about American corporate earnings and the US-China trade conflict. “The
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Cyprus Foreign Minister Nikos Christodoulides will meet US Secretary of State Mike Pompeo as Nicosia and Washington seek to strengthen cooperation in energy and regional security. While in Washington, Christodoulides will also hold talks with US Assistant Secretary of State for European and Eurasian Affairs, Wess Mitchell. According to a diplomatic source, the Minister’s schedule
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Cyprus recorded a General Government surplus of €769.7 mln, or 3.7% of GDP, in the nine-month period January-September 2018, according to official data. The surplus during the same period last year was (2.2% of GDP) or €431.2 mln. Total expenditure for the period of January-September increased 2.4% to €117.2 mln compared to €5.05 bln from
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The European Commission is expected to approve the government’s scheme for homeowners who have defaulted on their mortgage, dubbed ESTIA (Home), without significant alterations in November. Finance Minister Harris Georgiades said that Brussels has given clear indications, that it will approve the scheme without any alterations to its essence and basic principles, including the scheme’s
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Greek oil and gas firm Energean announced Monday its first day of dealings of the Group’s shares on its secondary listing on the Tel Aviv Stock Exchange. It is the first London-listed, international oil and gas operator to trade on the TASE. Delivery of its flagship Karish and Tanin gas development, offshore Israel, remains on
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Finance Minister Harris Georgiades rejected claims the economy was overheating, spurred by a construction bubble in luxury properties. In presenting his budget to a parliamentary committee on Monday, Georgiades said the economy “presented all the opposite features of an economic bubble” but noted that sales of high-value properties would need to be monitored. “The sector
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A tremor with a magnitude of 4.4 in the Mediterranean Sea off the Limassol coast was felt across the island on Monday but there were no immediate reports of any injuries or structural damage, according to the Cyprus geological survey. It said the tremor happened just after 2pm local time with the epicentre some 40
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Larnaca-based Cyprus Airways will offer extra flights during the Christmas season to Heraklion and Beirut. During the period 21 December to 7 January 2019, the airline will operate flights to Heraklion, Crete every Monday and Friday while adding three extra flights to Beirut, on 27 & 29 December and 1 January 2019. “The Christmas Countdown
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. By George Mouskides At an event held on 24 October, co-organised by KSIA and the Technical Chamber of Cyprus (ETEK), the main message extracted is reflected in the title of this article. As we will try to prove below, this is not merely a figure of speech. High-ranking state officials and municipality officials engaged
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Cyprus and Israel will conduct joint military exercises from October 29 – 1 November within the framework of defence cooperation between the two neighbouring countries, the Cypriot Ministry of Defence said Monday. It said the air and land exercises will take place within Nicosia’s FIR and in a large part of the land area of
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