Property prices seem to be stabilising, according to Central Bank of Cyprus data, despite a continued decrease in the value of the relevant index for the 22nd successive quarter. However, in all areas, the annual declines in the second quarter were smaller than those of the previous quarter. The property price index fell at a
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La Sélection, an independent, open wine competition for all Swiss wine merchants and producers held on August 31 and September 1 at the Congress Centre Basel chose three Cyprus wines for the Gold and Silver awards – two Commandarias from Etko Olympus and a Red Maratheftiko from Zambartas. In all, 752 wines from the major
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The recovery of economic activity in Cyprus is forecast to continue in the following quarters, according to the Economic Research Centre of the University of Cyprus, with real GDP growth for 2015 revised upwards from 1.1% in August to 1.3%. This is far more optimistic than projections by the European Commission and the IMF that
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By Lukman Otunuga, Research Analyst, FXTM The already vulnerable Sterling was dealt a sharp blow on Tuesday as UK CPI y/y printed below expectations at -0.1%. Inflation has failed to pick up in the UK and this, combined with the chain of negative PMI data in September, will push back the BoE’s interest rate rise
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Limassol District Court postponed the hearing on Monday to consider the serving of an indictment on Russian lawyer Evgeniy Mariashin (a shareholder and legal adviser to fertiliser giant PhosAgro and billionaire shareholder Andrei Guryev, left) after he didn’t show up. His Cypriot lawyers requested a further week, to October 19, for him to make an
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President Nicos Anastasiades, accompanied by First Lady Andri Anastasiades, departs on Tuesday for Beijing where he will meet with the President of the People’s Republic of China, Xi Jinping, and will participate in the Asian Political Parties Conference “New View of the Silk Road: Action for Common Development.” Anastasiades will also deliver a speech at
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A monthly payout of 4.5 mln euros is distributed to some 23,500 beneficiaries in the form of the Guaranteed Minimum Income aid, which the government says is well within its budgetary capabilities. The Ministry of Labour and Social Insurance that introduced the scheme last year to help low-income families and ‘vulnerable’ groups, said that 12,670
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The trade deficit narrowed to EUR 2.15 bln in the first eight months of the year, compared to 2.27 bln in the same period in 2014, according to the Statistical Service Cystat. Total imports in August reached EUR 405.8 mln, of which 286.6 mln was from EU member states and 119.2 mln from third countries.
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Despite the prospects of a delayed oil price recovery, Kuwait’s very high levels of economic and fiscal strength will continue to support the country’s credit profile and its Aa2 rating with a stable outlook in 2015 and 2016, according to Moody’s Investors Service. The rating agency expects that oil prices will start a gradual recovery
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By Jameel Ahmad, Chief Market Analyst, FXTM Equity markets continued their recent run of form with positive momentum remaining as the theme for the financial markets concluding trading for the week. Although there are still elevated risks when it comes to the world economy, increased expectations that central banks will support global growth by easing
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