An out-of-court settlement for the nearly €600 mln worth of Laiki capital securities held by about 60,000 bondholders seems a highly unlikely outcome, even after members of the the Association of Capital Securities (ACS) met with President Nicos Anastasiades on Tuesday. “The President’s efforts for an out of court settlement seem troublesome because the Bank
More
Companies from Russia, Luxembourg and Greece are showing interest in specialised investment tools and funds, such as the Undertakings for Collective Investment in Transferable Securities (UCITS), Cyprus Securities and Exchange Commission Chairman (CySEC) Demetra Kalogirou said recently. UCITS seek private investors and collectively invest in transferable securities or in other liquid financial instruments and alternative
More
Just a month after its opening, Caffe Nero in Engomi Nicosia is taking its customer by a pleasant surprise by placing painting, ‘The Birth of Venus’ by famous Cypriot artist Ioannis Kissonergis, on display. Ioannis Kissonergis is one of the fathers of Contemporary Cypriot art and his contribution to its evolution was substantial. Caffe Nero
More
By Jameel Ahmad, Chief Market Analyst at FXTM “Risk on” became the attitude of investors late on Tuesday with the NZD, AUD, EUR and GBP all concluding the day trading higher and safe-havens such as the USD moving lower. It might have been a delayed reaction, but the slightly-softer US economic data noticed over the
More
Germany achieved a new world record in capital exports in 2014, according to calculations by the Ifo Institute. Its current account surplus increased by around 30 bln euros to almost 220 bln, which corresponds to 7.5% of economic output. This development was driven by the trade balance. Other items of the current accounts (like services
More
By Jameel Ahmad, Chief Market Analyst at FXTM The Reserve Bank of Australia (RBA) has just become the latest passenger to join the central bank surprise train, with the RBA unexpectedly easing monetary policy a few hours ago. The RBA cut interest rates to a new record-low at 2.25% in a move that resulted in
More
Transavia is the first airline to offer direct flights between Larnaca and Amsterdam and does so twice a week. The airline also flies this route in combination with a stop in Paphos twice a week as well. At the request of many within the travel industry, Transavia decided to add Larnaca to her network of
More
The Cyprus problem is a key litmus test for Greek-Turkish relations, Prime Minister Alexis Tsipras said in Nicosia on Monday on his first state just eight days after his sweeping election victory. The charismatic leader of the anti-austerity Syriza leftist party also said that the Greek world needs to regain its international credibility by maintaining
More
International forex broker Forex Time (FXTM) has announced the expansion of its product offering, with the launch of three new languages – Urdu, Malay and Thai – on their website www.forextime.com. Head of Customer Relations Division, Valeriya Kolesnik comments: “Having established a global presence in European, Asian and Middle Eastern regions, we've made a commitment
More
By Jameel Ahmad, Chief Market Analyst at FXTM Already this week, the USDJPY has declined to a two-week low at 116.928 with increased JPY demand being noticed as a safe-haven asset once again following the latest China HSBC Manufacturing PMI slipping into contraction. Investor appetite for safe-havens did not conclude with the JPY either, with
More