The next mission of inspectors from the Troika of international lenders is expected to return on January 27 for its sixth review of the financial assistance programme, having postponed its arrival when parliament passed a new bill that would delay implementation of the foreclosures bill until January 30. Discussion in the House of Representatives is
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House President Yiannakis Omirou resigned as leader of the socialist party EDEK on Tuesday, a decision that caught many by surprise, but not unexpected considering the internal turmoil and disgruntled membership. Omirou said in his letter of resignation sent to deputy leader Marinos Sizopoulos that he had often been undermined from within the party and
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As Greece braces for national elections in twelve days time, the Greek financial markets seem to have steadied on Monday in a sign that investors are now less concerned that the result could lead to the country dropping out of the euro. In late trading in Athens, the yield on the Greek 10-year bond was
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Emirates has appointed Ms Asma Al Rahma as Country Manager for Cyprus. Ms Al Rahma will take on the position after three years as Country Manager for the airline in Oman. In her new role, Ms Al Rahma will manage a team of 20 and will be responsible for growing Emirates’ business within Cyprus ensuring
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By Jameel Ahmad, Chief Market Analyst at FXTM The major headline-catching storyline throughout the latter half of 2014 and even the opening week of 2015 has been the dramatic plummet in oil prices, with Crude having declined by around 50% since last June. Concerns over an oversupply of oil in the markets encouraged bearish pressure,
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By Jameel Ahmad, Chief Market Analyst at FXTM The domino effect of crashing oil prices continued to send commodity currencies lower during trading on Tuesday. One major mover was the USDRUB, with the pair rallying to a level not seen since the infamous Central Bank of Russia (CBR) overnight 6.5% interest rate rise. With the
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* UAE keeps up production pressure; FXTM sees crude at $42 Oil dropped below $45 a barrel in New York on Tuesday, dragging commodities to a 12-year low, according to Bloomberg, with government bonds rising as the outlook for inflation dimmed, retailers led European stocks higher and the pound weakened against all of its major
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By Jameel Ahmad, Chief Market Analyst at FXTM The major talking point on the currency markets is again centred on the falling oil prices, with both Brent and Crude falling to fresh six-year lows. In just over one day, Brent has declined from $50.70 to $47.38, while Crude has plunged from $47.73 to $44.86. Although
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By Jameel Ahmad, Chief Market Analyst at FXTM With the upside potential to both the EURUSD and GBPUSD being limited in the current economic conditions, both pairs are surrendering gains only encouraged by USD weakness at the conclusion of last week. The USD is also strengthening against its counterparts on Monday morning, which could support
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Economic growth in the euro area is expected to accelerate mildly, but remain weak. It will amount to 0.3% in the first and second quarters of 2015 respectively, following 0.2% in the fourth quarter of 2014, according to the latest forecast by the Ifo Institute (Munich), INSEE (Paris) and ISTAT (Rome). The average figures for
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