By Jameel Ahmad, Chief Market Analyst at FXTM After making its second attempt in as many days to re-enter 1.20, the euro bears found themselves dragging the EURUSD back down to 1.18 with the pair concluding trading on Tuesday at 1.1883. However in the early hours of Wednesday morning, the pair has already recorded a
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A cargo vessel carrying diesel a vessel hit the jetty of the VTT Vasiliko oil storage terminal in Vasiliko, on the southern coast of Cyprus, on Monday afternoon on its stern-side “in an attempt to evacuate the berth during extreme weather conditions,” the jetty operator said in an announcement. “Initial assessment indicates damage to a
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Cyprus’ double tax treaty network has been expanded with three new agreements with Spain, Lithuania and Norway becoming effective as of January 1, 2015, boosting the island’s services sector that has been hammered by Russia’s intentions to clamp down on offshore interest and provide an amnesty for the repatriation of funds. New treaties were also
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British maritime officials said the eight crew members of a cargo ship that capsized and sank in the North Sea off the coast of Scotland are presumed dead. Authorities said on Monday that the search for the seven Polish crew members and one Filipino of the Cyprus-registered cement carrier Cemfjord has been called off. Tony
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Industrial production fell by 0.4% year-on-year in October 2014, according to the statistical service Cystat. The Index of Industrial Production reached 74.5 units (base 2010=100), a decrease of 0.4% compared to October 2013. For the period January – October 2014, the index showed a decrease of 0.2% compared to the corresponding period of the previous
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* Syriza rules out ‘Grexit’ option The German government wants Greece to stay in the eurozone and there are no contingency plans to the contrary, Vice Chancellor Sigmar Gabriel said in an interview on Monday, responding to media reports that Berlin believes the currency union could cope without Greece. Gabriel, the Economy Minister and leader
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. * Do new CFC rules contradict relevant double tax treaty provisions? The new deoffshorisation legislation that passed with lightning speed through Russia’s Parliament and then hastingly signed by President Putin in the time span of a week and a half, comes into force on January 1, 2015. It introduces new fundamental rules, concepts and
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Canadian-owned Senvest Capital, whose two subsidiary funds have doubled their stake in Hellenic Bank to 5% following the recent rights issue and exercise, plans to hold on to its Cyprus investments, including shares worth nearly 60 mln euros in Bank of Cyprus, for up to three years. This is an additional vote of confidence in
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India is considering removing Cyprus from the blacklist of countries that do not share details about tax evaders after examining information given the island nation, reports from New Delhi have suggested. India had blacklisted Cyprus in 2013 for not sharing information about tax evaders. "They (Cyprus) have given some information. We are just examining whether
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As the year drew to a close, German companies were planning to recruit more staff. The Ifo Employment Barometer rose to 106.7 index points in December from 105.4 points in November. Service providers were once again the main driver behind this development. In manufacturing the employment barometer rose considerably, with firms gradually abandoning their cautious
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