Limassol’s Municipal Gardens will light up on Friday to welcome thousands of visitors to taste and enjoy Cyprus wines at the 57th annual Wine Festival. The Festival is watched over by the landmark statue of the traditional Vrakas, the Cypriot in traditional dress, will be open to the public until September 9 – a ten-day
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By Hussein Sayed, Chief Market Strategist, FXTM Sterling traders were caught by surprise on Wednesday after the EU’s Chief Brexit negotiator Michel Barnier said, “we are prepared to offer a partnership with Britain such as has never been with any other third country.” His statement comes after the risk of a hard Brexit, or
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Smugglers used a drone to fly drugs over the 180-kilometre UN-patrolled ceasefire from the south of the island to the Turkish-held north, Turkish Cypriot media reported. Turkish Cypriot authorities arrested a suspect alleged to have taken delivery of narcotics from a drone which had taken off from government-controlled Nicosia in the south, the Turkish Cypriot
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Depositors seem to have regained trust in the Cyprus banking system as things appear to have calmed down after the bank run at the Co-op caused by panic-stricken depositors worried about another haircut. June alone saw withdrawals of over half a billion euros from the Cyprus Co-operative Bank as the government was in the process
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. By Costis Stambolis The current energy planning of the Republic of Cyprus appears to be under threat following a detailed proposal submitted last month by Greece-based Energean Oil & Gas, for the supply to the island of natural gas from the nearby Karish and Tanin fields – which Energean is now developing in
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By Lukman Otunuga, Research Analyst at FXTM It’s remarkable how the initial euphoria from the US-Mexico trade deal has been slightly overshadowed by growing concerns over US-China trade relations deteriorating further. The breakthrough in NAFTA negotiations between the United States and Mexico, coupled with optimism over Canada joining the agreement, was certainly a positive
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In August economic sentiment in Cyprus edged up slightly due to improved retail sales and consumer confidence, according to the University of Cyprus Economic Research Centre. The Economic Sentiment Indicator (ESI-CypERC) increased by 0.5points in August to 111.6 compared to 111.1 registered in July. Economists said the increase was driven by stronger confidence in retail
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House prices in London’s hyped market will fall this year and next, a Reuters poll of analysts and experts predicted, and will tumble if Britain fails to agree an orderly departure from the European Union. The quarterly poll of around 30 housing market specialists, said house prices in the capital – where foreign investors have
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Turkey's military chiefs are pushing for the construction of a naval base on Cyprus from where it can control the region from the Turkish-held north of the island. Ankara wants to establish a firmer foothold on Cyprus by establishing military facilities similar to those of the British Sovereign Bases on the island. Turkish Cypriot
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Bank of Cyprus announced it is selling a loan portfolio with a gross book value of €2.8 bln to NYSE-listed Apollo Global Management for €1.4 bln, making it the biggest deal of its kind in Cyprus. The portfolio sale, of which €2.7 bln are asset-backed non-performing loans (NPLs), will help reduce the lender’s bad loans
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