By Jameel Ahmad, Chief Market Analyst, FXTM GLOBAL MARKETS: For the second successive week, markets started trading facing downside pressures with investors reacting unfavourably to the news that a “No” vote was declared victorious in the Greek referendum. While PM Tsipras is optimistic that the outcome of the referendum can be used as leverage for
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Cyprus will be supportive in the effort of Greece to achieve a restructuring of the terms, so that the debt can be sustainable, President Nicos Anastasiades said on Monday as he prepared to take part in the special EU Summit in Brussels on Tuesday with regard to the developments in Greece. In his remarks to
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Greek President Prokopis Pavlopoulos has called an emergency meeting of all political party leaders in Athens on Monday morning, with Prime Minister Alexis Tsipras saying that a strong national front is needed to reinstate calm in the economy and to seek a viable rescue agreement. The Greek people voted a resounding ‘no’ on Sunday where
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Etihad Airways has expanded its codeshare agreement with Hong Kong Airlines to provide travellers with enhanced connections between Asia, the Middle East, and Europe. Under the agreement, Hong Kong Airlines will place its ‘HX’ flight code on Etihad’s flights between Hong Kong, the world’s third most important financial centre, and Abu Dhabi. The national airline
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The Public Debt Management Office of the Ministry of Finance announced that Thursday’s 13 week Treasury Bills auction for €150 mln was oversubscribed and the average yield was 2.18%, lower than 2.47% at the previous auction on May 6. However, the PDMO said a total amount of €171.5 mln were submitted, down from 200 mln
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President Nicos Anastasiades announced a host of infrastructure projects worth €124.7 mln in his home town of Limassol, saying that after 26 months in government and having achieved a turnaround in the economy, Cyprus has returned to the markets and can now borrow at a rate of 3.5%, as opposed to 15% when the crisis
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Just a month after EY Cyprus announced a new Country Managing Partner, the ‘Big Four’ audit firm said it was admitting a senior executive into partnership and promoting three others to Executive Directors. Stavros Pantzaris, who took over as the Country Managing Partner as from July 1, succeeding Andreas Demetriou who retired after a professional
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EasyJet has launched a new iPhone app http://www.easyjet.com/en/mobile that includes a range of new features designed to make travel simpler and easier for passengers. Since the launch of the budget carrier’s first iPhone version in 2011, the app has evolved from easy booking and check-in functionality to include popular features like passport scanning, live flight
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The European Stability Mechanism (ESM) has approved the disbursement of €100 mln to Cyprus as part of the €9 bln financial assistance of which €5.8 bln has been paid so far. The ESM board in Luxembourg said that the payment “follows the positive assessment of the sixth quarterly review of Cyprus’s macroeconomic adjustment programme and
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The organisers of the Nicosia solar car race, held last weekend, aim to include the event in international racing calendars, either Pan-European or in the Middle East. In all, ten solar cars took part in the race, the sixth held so far by the Cyprus Institute www.cyi.ac.cy/ , with the participation in recent years of
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