. The introduction of natural gas to the island’s energy system is of equal if not greater importance than the extra money that gas exports will in the long term bring to government coffers By Costis Stambolis It is now more than three years that Cyprus discovered a significant gas deposit in offshore Block 12,
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By Lukman Otunuga, Research Analyst, FXTM Stocks enjoyed an incredible rebound in the last two days of trading last week as expectations mounted around the central banks expanding stimulus measures to stabilise the turmoil in the financial markets. The rising optimism over the possibility that the Bank of Japan (BoJ) may unleash further stimulus measures
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. The landmark deal reached between Iran and the E3+3 group, and the subsequent lifting of economic sanctions on Iran, may be very good news for Cyprus as all along, the Americans had been pressuring the government not to be generous with residency permits to Iranian property investors and holidaymakers on the island. Sanctions
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. By Oren Laurent President, Banc De Binary Investors looking to cash in on the current equities rout will no doubt be scratching their heads in utter confusion. 2016 was supposed to herald a time of equities stabilization, with the all the anxiety of the December 16, 2015 rate hikes a thing of the past.
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Moody’s Investors Service cut its price estimates for Brent crude and West Texas Intermediate crude amid continued oversupply in the oil markets and the risk of additional supply from Iran. The rating agency has lowered its 2016 price estimate for both the international benchmark Brent and the North American benchmark WTI crude to $33/barrel.
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By Lukman Otunuga, Research Analyst, FXTM The lingering impact of Mario Draghi’s dovish rhetoric on the health of the Eurozone economy continues to haunt the currency markets with the Euro under pressure as expectations mount around the ECB taking action in March. Increased downside risks highlighting emerging market weakness, ongoing China woes and slowing
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Moody’s Investors Service has taken rating actions on six Azerbaijani banks, downgrading the Baseline Credit Assessments (BCAs) and the long-term deposit ratings of VTB Bank (Azerbaijan), OJSC Bank of Baku and UniBank Commercial Bank with a negative outlook. Moody’s also changed the outlook to ‘negative’ from ‘stable’ on the long-term deposit ratings of OJSC
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By Lukman Otunuga, Research Analyst, FXTM Euro bears received ample encouragement during trading on Thursday following Mario Draghi’s dovish rhetoric towards the health of the Eurozone economy, consequently sending the EURUSD sinking to fresh daily lows of 1.078. During the press conference, Draghi highlighted that slowing global growth and emerging market weakness has left
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* Green light for BG opens LNG export prospects from Aphrodite * The ENI-Kogas consortium has been granted a two-year extension to its exploration license in Blocks 2, 3 and 9 of the Cyprus Exclusive Economic Zone (EEZ), as its current permit expired on January 23. The joint venture was close to abandoning its
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The short list of investors for the establishment of an integrated casino resort in Cyprus will be announced in February, Energy and Tourism Ministry Permanent Secretary Stelios Himonas said. Briefing a joint session of the House Committees on Finances and Commerce on the regulations for the operation of a casino, he said that in
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