Buoyed by record tourist arrivals and a resurgence in construction Cyprus notched up 3.9% GDP growth in the second quarter of 2018, official data showed Tuesday. The economy has registered 14 straight quarters in positive territory since Q4 2014. Seasonally adjusted data showed that 0.8% Q2 growth was slightly down from the 1% increase in
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Relatives of the Helios air crash victims on Tuesday held the annual memorial service of their beloved ones, marking 13 years since the island’s worst air disaster costing the lives of all 121 people on board. The memorial service took place at the crash site of Grammatikos, north of Athens, where the Helios Airways Flight
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By Hussein Sayed, Chief Market Strategist at FXTM After a rough start to the week, Asian stocks found some support on Tuesday as the Turkish Lira steadied below 7 per dollar. Japan’s Nikkei 225 rose 1.8% with all sectors in green territory as the Yen gave up some of Monday’s gains. Australia’s ASX 200
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Cyprus-born UK reporter, Eleni Courea, 23, has won the 2018 Anthony Howard Award for Young Journalists, an award given to promising reporters in memory of one of the most prominent British editors and political commentators. Courea, a reporter with Research Fortnight and Research Europe, won the prize with her proposal to investigate the emerging fault
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Gaming giant OPAP’s parent company, the Czech-based Emma Group, is to take a €50 mln stake in Hellenic Bank’s upcoming rights issue, with the total amount of €150 to fund the acquisition of the ‘good assets’ of the Cyprus Cooperative Bank. Explaining the complex cross-holding scheme, Hellenic Bank announced on Monday that it has entered
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By Hussein Sayed, Chief Market Strategist at FXTM The Turkish Lira resumed its drop early Monday touching a new record low of 7.21 per dollar before recovering slightly during Asia trade. Comments from President Recep Tayyip Erdogan and Finance Minister Berat Albayrak over the weekend that a plan would be revealed on Monday to
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. By Harris Georgiades, Cyprus Finance Minister The ESTIA scheme’s preparations are now in full swing in cooperation with the banks, in order to regulate some technical details and complete the preparation of the scheme. At the same time, we are pushing forward with organizational preparations. The department responsible for managing the scheme will be
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Cyprus’ shipping industry is concerned over an escalation of a ‘trade war’ between the USA and China but feel it is in a robust position to weather the storm. With the tariff war threatening to make waves in Cyprus shipping, stakeholders have urged both sides to take a step back. US President Donald Trump has
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This year marks the 20th Pafos Aphrodite Festival with the annual opera banking on the popularity of Rossini’s comedy ‘Barber of Seville’ to secure yet another sold-out performance. The three-day festival, to be held over the weekend of August 31, will once again transform the harbour and castle grounds into an impromptu stage that has
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Cyprus is one of the few EU Member States where most children are born within a marriage, in fact only 20% of births are registered among unmarried parents. More than 80% of births in Cyprus, Greece and Croatia happened within marriage, according to Eurostat data for 2016. According to Eurostat, in eight EU countries there
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