A net total of 27 bln euros in capital flowed out of Italy in March, according to a publication by the Banca d’Italia. “This could be partially due to speculative overseas bank transfers by Italian banks, which are now investing the money that they received from the European Central Bank’s bond acquisitions in the context
More
Oil climbed more than 1% on Thursday after heavy losses in the previous session following the announcement of record crude inventories in the US and OPEC-driver Saudi Arabia continuing its output at maximum levels. The benchmark Brent crude oil rose 62c a barrel to $56.17 after shedding about $3.50 a barrel or almost 6% on
More
The uncertainty over the outcome of the forthcoming general elections in the United Kingdom is not affecting the sovereign's credit profile of Aa1 ‘stable’, Moody's Investors Service said, adding that in contrast, an increased likelihood of the UK leaving the EU could result in negative rating pressures over the medium-term. According to Moody's, neither a
More
RCB Bank has welcomed the removal of all capital restrictions on Monday, as announced earlier by President Nicos Anastasiades. "We welcome the long-awaited lifting of capital restrictions in the Cypriot banking system. This development constitutes the end of a difficult era for the banking sector and the economy of the island at large,” said Kirill
More
The rate of inflation in Cyprus for March, as measured by the Harmonised Index of Consumer Prices (HICP) was -1.4%, the Statistical Service Cystat announced. The inflation for March decreased at a rate of -1.4%, and -0.8% for February. For March 2014, the corresponding rate had also been decreased at -0.9%.
More
Progressive Insurance, a leading general insurance provider in Cyprus, has just introduced a mixed policy that includes motore, as well as home cover. The Progressive Crystal Home, with a starting fee of €19.50, combines third party motor insurance, with benefits such as road and accident assistance and windscreen cover, as well as home content cover
More
The Eurozone’s economy is expected to recover slightly in 2015, according to three leading research institutes. Gross domestic product looks set to grow by 0.4% in the first three quarters of the year, versus just 0.2% and 0.3% in the third and fourth quarter of 2014 respectively, said the results of calculations by the Ifo
More
A total of 111 hotels, hotel apartments and tourist villages have introduced special reduced rates for April and continuing to the summer, the Hoteliers Association Pasyxe announced. The special rates for “local tourism” start from €16 per person in a studio for two and €20.50 per person in a double room in a hotel. The
More
“Technology: the catalyst for Development and Public Sector reform”, an event organised by Microsoft Cyprus at the Philoxenia Conference Hall in Nicosia, concluded with great success last Tuesday. Participants included government officials and specialised staff from Microsoft who outlined their positions on issues relating to technology in the field of education, the police, and the
More
It is impossible to put a price tag on saving a life. Should a medical emergency occur on board a flight, attention is provided immediately by the crew and in some cases a flight diversion is required to the nearest airport for medical treatment. That is why Emirates has invested more than US$ 6 million
More