By Jameel Ahmad, Chief Market Analyst at FXTM CURRENCY MARKETS The Dollar bulls continue to enjoy momentum and drive the Greenback higher following Janet Yellen reigniting buying interest after she recently repeated the Federal Reserve’s commitment to raising US interest rates at some point this year. There were previously concerns that with fragilities in the
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Hellenic Bank, one of four systemic banks that underwent stringent capital tests last October and raised about 200 mln in fresh funds, reported a profit of EUR 12 mln in the first quarter this year, compared to a EUR 26 mln loss in the same quarter of 2014. “During a period where the economic environment
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. Marcuard's Market update by GaveKal Dragonomics A surprising facet of the post-2010 euro crisis period has been the degree to which the political centre in the European Union has held. Despite record unemployment in the struggling south, extremist movements have mostly been contained to the fringes. So, it is ironic that just as the
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Spain's (Baa2 positive) strengthening economic growth continues to support the narrowing of the fiscal deficit, but its high public debt level is unlikely to stabilize before 2016, Moody's Investors Service said in its annual Spain Credit Analysis. According to Moody's, structural reforms have helped Spain strengthen its institutions, the banking system and the labour market.
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By Jameel Ahmad, Chief Market Analyst at FXTM CURRENCY MARKETS The warning over the weekend from Greece that it will not be able to afford its IMF repayment in just under a fortnight has provided the markets with a reminder about how delicate a situation the country finds itself with its creditors, while also installing
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Etihad Airways’ direct non-stop flights between Abu Dhabi and Madrid bring more choice for travellers as the airline connects Spain to its rapidly expanding flight network. Speaking at a media gathering in Madrid to mark the start of the new capital to capital link, James Hogan, Etihad Airways’ President and Chief Executive Officer, said the
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By Jameel Ahmad, Chief Market Analyst at FXTM The Pound bulls went on a rampage on Thursday, with the GBP punishing the majority of its trading partners following UK retail sales being announced much higher than expected. Aside from inflation risks, the UK economic outlook is extremely bright and this is very attractive to traders.
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A Central Bank draft law on loan sales provides that loans could only be sold to companies resident in Cyprus, in addition to subsidiaries of credit institutions in other EU member states. This settles the concerns by investors and politicians alike that mortgaged Cyprus properties that have defaulted may end up in foreign hands, particularly
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* Bailout exit “within ten months” * President Nicos Anastasiades said that his Government plans to announce new tax incentives to attract foreign investments, but also for the benefit of Cypriot citizens and enterprises. In his speech at the annual meeting of the Employers and Industrialists Federation (OEV), the President said that the Ministry of
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The Finance Ministry is working to set up an investment fund to manage the revenue from hydrocarbon deposits in a credible and transparent way, the Ministry of Finance said in a statement on Monday after Finance Minister Harris Georgiades met with the Energy Council, appointed last September to advise the government on energy issues. Georgiades
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