Apple’s iPhone 15 event on Tuesday will boost stock prices for shareholders, but it will not be enough to recover its stock market valuation which fell by more than 6%, or almost $200 bln, in two days last week. Investors will see a dip in the stock price after reports that Chinese government workers have
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Cyprus is among the top 20 countries for economic freedoms but has ground to make up, according to the Economic Freedom Report issued by The Heritage Foundation. According to the report, Cyprus was 18th, scoring 72.3 points. Despite being placed among the world’s top 20 for economic freedom, the country’s rating worsened by 0.6 points.
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Authorities said the wildfire that raged in Akrounta, Limassol, over the weekend was completely under control Monday after two days of firefighting. Light rain in the area on Sunday afternoon helped, assisting the work of the firefighting units that have been trying to contain the blaze, raging since Saturday, threatening the forest of Limassol. Aerial assets,
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By Naeem Aslam Investors in Europe and the US are preparing for a volatile week as the economic docket is full of fireworks. Since last week, concerns about the Fed’s interest rate cycle have begun to surface again, as speculators believe that there are greater chances that the Fed will use more gunshot in terms
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Aeronautical exercise “EUNOMIA” is being organised for the fourth consecutive year in the Eastern Mediterranean from 11 to 15 September, in the framework of the Quadripartite Initiative between Cyprus, Greece, France and Italy. It aims to strengthen security and stability in the wider region and ensure free navigation. According to the Defence Ministry, the quadripartite
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Government spokesman Konstantinos Letymbiotis said there is no agreement on the Pyla road dispute despite the Turkish Cypriot media saying a deal has been reached and construction will resume on Monday. On August 18, Turkish Cypriot police and others punched and kicked a group of British and Slovak peacekeepers who obstructed crews illegally working on
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Ironically, the one time the police took right-wing extremist violence seriously, the protestors didn’t turn up, and those non-Cypriot-looking people told to stay indoors could come out of hiding. Although the left and normal-thinking activists woke up to the fascist menace, it was already too late to save Limassol from being a target for mob
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During the past decade, halloumi exports have increased tenfold to reach a whopping €284 mln and are expected to rise further, thus becoming a steady pillar of the island’s economic growth. Speaking at the Alambra Dairies’ ultra-modern fresh milk production line, President Nikos Christodoulides praised the company’s 40-year path from a humble beginning and persistence
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Oil prices surged to over $90 a barrel this week as Saudi Arabia and Russia extended their 1.3 million barrel per day oil cut through to December. The oil price has hit the highest level since November 2022 and up 25% since June, as supply cuts by OPEC+ tighten the market. It could even hit $100/b. This
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The unprecedented attack by the Turkish Cypriots against members of UNFICYP in the buffer zone highlights their efforts to challenge the functions of the UN force in Cyprus by a decision to construct a road between occupied Arsos and Pyla, thus violating the status quo. Obviously, in their plans, this action constitutes an escalation aiming
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