Cyprus and Egypt currently face the most immediate credit risks than other countries rated by Scope Ratings due to the Israel-Hamas conflict, said the German credit rating agency. In its report ‘Hamas attacks test Israel’s economic resilience; adds risk to regional stability, global growth’, the rating agency said that for now, the most immediate credit risks
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The Finance Ministry has refuted claims by the Audit Office and Paphos Mayor Phedon Phedonos that it is accountable for the chaos at Paphos airport with long queues of passengers. Earlier in the week, the Audit Office fuelled controversy over Paphos airport after Phedonos posted video footage of long queues at passport control, describing the
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Revival of the historic Berengaria Hotel edges closer to “breathing new life into an area rich in tradition and heritage”, said Tourism Minister Costas Koumis. Owners bbf presented their revamp plans this week. Koumis said the return of the establishment, renamed Berengaria Luxury Boutique Hotel, will further “boost Cyprus as a diverse and vibrant tourist
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The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations displaying promising growth and recovery. However, beneath the surface of these top-line numbers, underlying challenges and disparities need to be addressed. Greece, in particular, is witnessing a construction boom, with new high-rise buildings emerging in Athens and other major cities.
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By Lukman Otunuga, Senior Market Analyst at FXTM Asian shares advanced on Thursday following the moderately positive performance from Wall Street overnight, as dovish Fed minutes and easing oil prices supported risk sentiment. However, markets remain cautious amid mounting geopolitical tensions in the Middle East and incoming US data. European markets traded higher ahead of
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Several hundred people arrive daily in Cyprus on commercial flights from Tel-Aviv after the crisis following the Hamas attack against Israel. Some 24 flights from Israel to Cyprus (23 to Larnaca airport and one to Paphos) are expected to be carried out on Thursday, with 18 flights going in the opposite direction. Foreign Ministry spokesperson
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EU courts have backed a Swedish rival in the Halloumi trade war after they dismissed Cyprus’ application to annul the registration of an imitator GRILLOUMI to the crown. Cyprus has lost another halloumi battle in European courts, the second since the traditional cheese was granted the status of a Product of Designated Origin (PDO). EU
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By Edward Moya US stocks shrugged off a hot PPI report and focused on the latest Fed speak that had two hawks dial down dial the immediate need for further tightening. Stocks might struggle for further gains on Thursday until Wall Street sees the CPI report, which could come in hot given producer prices were
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Nobody will hit Israel and get away with it. We are at war, but we are not targeting the people of Gaza but the terrorist organisation of Hamas, and we will win. We are thankful that we have the opportunity, if needed, to be assisted by Cyprus, which will be considered in our planning ahead.
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A conservation group claim that police have been lax in cracking down on criminal gangs that illegally trap migratory songbirds to supply restaurants, although the poaching has declined overall. Tassos Shialis, a spokesperson for conservation group BirdLife Cyprus, said that even though the war on songbird poaching generally is being won, gangs with links to the
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