. Marcuard's Market update by GaveKal Dragonomics Following India’s dramatic national accounts revision, images of a turbo-charged elephant overtaking an exhausted dragon are becoming tiresome. We are upbeat on India’s secular growth outlook, but struggle to reconcile last year’s purported 6.9% expansion with other indicators. Our concern is that for all Narendra Modi’s reforming zeal,
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The likely impact of a prolonged period of low oil prices on banks from the Gulf Co-Operation Council (GCC), and the unique interlinkages that exist between oil, public spending and banks in the region will first result in reduced banking system liquidity, with secondary effects on credit growth and profitability, according to Moodys’. However, the
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The G C School of Careers staged Starry Night, the school talent show, at the Strovolos Municipal Theatre. Starry Night is an annual variety show organised by the students of Form 7, and it aims at offering talented students the opportunity to perform before a large audience. The School Management warmly congratulates all the students
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Following the decision of the Governing Council of the European Central Bank (ECB) to hold two meetings each year outside the Frankfurt headquarters, the ECB Governing Council meeting on March 4 and 5 will take place in Nicosia, hosted by the Central Bank of Cyprus. The meeting is important as it takes place as the
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The yield on the Cyprus government 10-year bond, maturing in 2020, dropped below 5% on Monday to 4.96%, but still above the four-year low of 4.50% recorded last September. The yield on the shorter term 5-year bond issued last year, however was at 5.07%, above the 5% benchmark, “reflecting the investors’ medium-term concerns regarding the
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The Public Debt Management Office of the Ministry of Finance announced that Tuesday’s 13-week Treasury Bills auction for €200 mln was oversubscribed. It said tenders for a total amount of €321.7 mln were submitted, out of which, €200 mln total nominal value have been accepted with a weighted average yield of 2.84%. The accepted yields
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* Exxon Mobil and Shell best poised for turnaround * The 50% drop in crude oil prices since mid-2014 will result in negative free cash flow for the international oil companies (IOCs) in 2015, which are responding with capital spending cuts and other measures to preserve flexibility, Moody's Investors Service said, adding, however, that the
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Huawei broke new ground in the wearables space by unveiling its Android Wear-powered smartwatch at Mobile World Congress (MWC) in Barcelona. The fully circular watch features a 1.4-inch touch-sensitive AMOLED display, scratch-proof sapphire crystal lens, cold-forged stainless steel frame, and comes with a built-in heart rate monitor and 6-Axis motion sensors. Made of more than
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Orange launched its Klif digital offer at the Mobile World Congress in Barcelona starting from under US$40 (€35), inclusive of a smartphone, data, voice and text bundle, for its Africa and Middle East markets. The 3G Firefox OS smartphone is exclusive to Orange and will be available from Q2 in 13 markets in the region,
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The Electricity Authority of Cyprus, the state-owned near-monopoly that is headed for privatisation by 2018, said that the March bills will be about 8% lower for consumption up to the end of February, due to a combination of lower crude prices and administrative savings by the utility. A senior EAC official had said last week
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