Crude oil prices moved lower on Tuesday as investors exited riskier assets, following the failed negotiations between Greece and its creditors, primarily the European Union. Greeks took to the streets to protest against austerity following a bank shutdown and with the nation headed to a referendum on Sunday, price action is likely to remain volatile
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By Jameel Ahmad, Chief Market Analyst, FXTM The risks surrounding the ongoing situation in Greece were continually ignored and severely underpriced in the financial markets, therefore it is no surprise to learn that the global markets have commenced the week suffering significant losses. Most of these pressures were inevitable with the risks around Greece being
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PrimeTel, the third national mobile operator in Cyprus, has been appointed Apple authorised retailer for the brand, joining the ranks of Alpan Electroline, Cyta, MTN, Public and Stephanis. The deal was concluded with iSquare, a subsidiary of the Quest Group and Apple’s authorized distributor in Greece and Cyprus, formerly Rainbow SA. The main resellers in
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Hans-Werner Sinn, President of the Ifo Institute in Munich, has spoken out in favour of an orderly Grexit. “The foreseeable insolvency of Greece is deeply regrettable. Greece now needs to immediately introduce a new electronic currency as legal tender and must stop all euro payment orders to other countries abroad and impose capital controls”, Sinn
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. The release of the tender last week for the management of the three concessions at Limassol Port seems to have produced the ideal model with a perfect balance between the need for privatisation and de-nationalisation on the one hand, and on the other, satisfying union demands for the eternal continuity of “jobs for the
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. By Dr. Jim Leontiades Cyprus International Institute of Management The Eurozone was initially supposed to make the member countries more similar. This has not happened. Some member countries are enjoying relatively full employment and satisfactory economic development and some are experiencing far different situations. Germany enjoys relatively low unemployment (4.7%) and modest economic growth,
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. Marcuard's Market update by GaveKal Dragonomics So no surprises. A slightly more dovish Federal Open Market Committee stuck to the script of future monetary policy moves being data dependent. Since the US central bank last week scaled back its 2015 GDP growth forecast to 1.8%-2%, the implication is that rate increases, even if they
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. By Oren Laurent President, Banc De Binary Over the past 12 months, China’s Shanghai Composite index has grown by a whopping 152%. The market capitalisation of Chinese stocks has surpassed $10 trln for the first time, and it is clear that traders are flocking to invest in Chinese assets. The only question is: where
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. With the announcement this week that the state will go to tender to seek up to three strategic investors to undertake the management of Limassol port, the process has finally begun for the government to deleverage its assets and implement the “smaller-is-better government” policy. With the new operators expected to take over the island’s
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. By George Theocharides Due to the current weak economic circumstances that we are experiencing here in Cyprus (as well as other countries in Europe), we are constantly bombarded with various economic and financial terms from the media, most of them unknown to the general public. One of them is the yield on the government
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