By Lukman Otunuga, Research Analyst, FXTM The China saga continues as the Shanghai Composite Index migrates into positive territory, with the major market concluding trading +1.89% higher. Sentiment for the China markets still remains bearish as finance luminaries have criticised President’s Xi Jinping’s management for what they characterise as a series of inept and potentially
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President Nicos Anastasiades told a gathering of UK Cypriot community leaders over the weekend that “some progress has been achieved on important chapters” of the negotiations with Mustafa Akinci to resolve the Cyprus problem. Earlier, Anastasiades met with prime Minister David Cameron with whom he discussed progress on the Cyprus talks, as well as regional
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Etihad Airways has introduced an enhanced new baggage policy to coincide with the launch of its new Fare Choices tariff structure, responding to individual customer needs with greater flexibility and to closely align the Abu Dhabi-based carrier with other Etihad Airways Partner airlines. The changes, that include boosting the luggage policy on some routes in
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Tourist arrivals in August were the highest ever, rising 5.1% year-on-year to 392,272, while the January-August figures also showed an increase of 6.2% y-o-y to 1,842,700, according to the Cyprus Tourism Organisation. Monthly arrivals saw a revival of the British market, with tourist numbers up 15.7% y-o-y to 156,701, followed by Israel (+27.3% to 16,802),
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By Jameel Ahmad, Chief Market Analyst, FXTM Confidence in the global economy received another blow on Thursday night after the Federal Reserve disappointed market participants by refusing to raise interest rates, leaving US rates unchanged. While expectations over whether the Fed would pull the trigger in September had deteriorated following the recent turmoil in the
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A.Athanasiou Group present the iHome project. The project is one of the most advanced and perhaps the best residential high-rise projects in Limassol, which consists of 2 Towers with up to 82 height from the sea level. The A.Athanasiou Group has already begun the preparations for the construction of the project, the completion of which
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By Lukman Otunuga, Research Analyst, FXTM The USD is continuing to trade with sensitivity ahead of the long anticipated FOMC decision on Thursday. Due to the uncertainty which has been caused by the Fed in regards to a rate hike, the USD has been exposed to pressure, which has caused erratic behaviour within commodities and
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The Cabinet has approved the 2016 budget, which Finance Minister Haris Georgiades described as ‘balanced’ and included a 5% increase in development spending. However, noting that the effort to maintain a reasonable management of fiscal finances must continue, the Minister said that the budget deficit has been ‘contained’ and that there would be no need
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Ryanair has launched a new route from Larnaca to Brussels Zaventem starting in January, with two weekly flights to the Belgian capital every Monday and Friday, taking over the vacuum left behind by now-defunct Cyprus Airways. This was one of a dozen “vital routes” offered by the Ministry of Transport to alternative airlines, filling in
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Ifo President Hans-Werner Sinn has called on the US Federal Reserve to raise its interest rates on Thursday. “The fact that interest rates are practically zero means that the interest rate has lost its controlling function of differentiating between profitable and unprofitable assets. That is bad news for the economy, as it suggests that resources
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