Almost ten years after it was put out to tender, the Paphos marina build-finance-operate-transfer (BFOT) license has been awarded to “Poseidon Grand Marina”, a consortium majority controlled by Aristo Developers. This follows the Limassol Marina project that has matured and is in its final stages of completing the residential units, and the recently-awarded Ayia
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The trade deficit in March reached EUR 264.9 mln in March, according to preliminary results from the Statistical Service Cystat. Thus, the first quarter cumulative deficit is at EUR 730.6 mln, considering the EUR 465.7 mln deficit reported in the first two months of the year. Cystat said that preliminary estimates showed total
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. * April Exports Decline Amid Slowdown in Economy * By Oren Laurent President, Banc De Binary The Chinese economy recorded sharp drops in both imports and exports in April (year on year) with exports on the decline since July 2015. Chinese Official Downbeat on Trade Data In April, the balance of trade in China
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By Lukman Otunuga, Research Analyst, FXTM Stocks were flung onto a wild roller coaster ride this week with major markets violently oscillating between losses and gains as anxiety mounted ahead of the anticipated non-farm payroll (NFP) report. This anxiety triggered a sense risk aversion that punished Asian equities, which were already depressed from an appreciating
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. By Oren Laurent President, Banc De Binary The price of gold bullion has enjoyed an imperious run of form for the year to date, notably in April. The confluence of several important factors has contributed to the Bull Run in bullion, and the momentum keeps on growing. The gold futures contract for delivery in
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The Bank of Cyprus said it will post a net profit of around EUR 50 mln in the first quarter, building on “strong momentum” in its loan restructuring activities. The bank said in a trading update that it has completed further restructurings of lending exposures across the spectrum of its loan portfolio. “This resulted
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Economic growth in Europe is expected to remain modest as key trading partners’ performance has slowed and some of the so far supportive factors start to wane. As a result, GDP in the euro area is forecast to continue growing at modest rates over the 2015-2017 period. According to its spring forecast, the European
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By Lukman Otunuga, Research Analyst, FXTM Stocks descended deeper into the abyss in the first trading week of May following the tepid Chinese manufacturing data and slash in Europe’s growth outlook that renewed concerns about the health of the global economy. European equities were left depressed with the FTSE100 attracting most of the headline attention
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Revenues from the shipmanagement sector dropped marginally in the second half of 2015 to €462 mln, down €2 mln or 0.43% from the first half, according to the Central Bank of Cyprus data. Shipmanagement revenues as a turnover amounted to 5.2% of Cyprus’ GDP, which added to ship-ownership fees and other revenues rises to
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Fitch Ratings has affirmed the Bank of Cyprus covered bonds at ‘BB+’ assigning a ‘stable’ outlook, following the upgrade of the bank’s Issuer Default Rating (IDR) to ‘B-’ from ‘CCC’ a few days earlier. Fitch said that the upgrade of the bank’s IDR has not led to an upgrade of the covered bonds’ rating
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