China’s efforts to kick-start a property sector revival are poised to have a substantial, positive impact on stock markets and delight global investors, said the founder of a leading independent financial advisory and fintech. The upbeat assessment from deVere Group’s Nigel Green comes as the People’s Bank of China (PBOC) eased borrowing rules and slashed the
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Israeli mining magnate Beny Steinmetz has been detained in Cyprus, facing extradition on a Romanian-issued arrest warrant, police said. Steinmetz is at the centre of a case dating back several years relating to his involvement in a group allegedly trying to secure land rights in Romania illegally. He has already faced arrest in some other
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Israel’s prime minister has floated the idea of building infrastructure projects such as fibre optic and electricity cables linking countries in Asia and the Arabian Peninsula with Europe through Israel and Cyprus. Prime Minister Benjamin Netanyahu said he’s “quite confident” such an infrastructure “corridor” linking Asia to Europe through Israel and Cyprus is feasible. He
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Cyprus said it received a diplomatic protest from an unnamed Arab Gulf state after tourists were attacked during last week’s anti-migrant protest in the island’s second city, Limassol. Senior diplomat Kyriakos Kouros posted on the X platform Sunday: “I received a demarche from an ambassador of an Arab country.” He added: “A number of its
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There should be little surprise in government that several years of negative messaging about the irregular migrant ‘tidal wave’ transcended into extremist violence in Chlorakas. What the politicians failed to grasp, and the local media played down, is that what has transpired over the last week is some of the worst racially-motivated public disorder the
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Despite the Central Bank’s optimistic view of an increase in the Cyprus economy’s GDP growth, from 2.6% this year to 3.1% by 2025, the employers’ federation and the main Opposition party are on the same page for once, warning the current path is unsustainable. The central bank’s bulletin for June said that GDP will be
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The Olivewood incentive scheme designed to promote Cyprus’ revamped audiovisual sector for big movie studios to sprinkle more Hollywood magic has been given a three-year extension till the end of 2026. The news was delivered by the Commissioner for State Aid Control, Stella Michaelidou, while the decision will need to be ratified by the Cabinet.
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Cyprus’ Fiscal Council, advising the government on economic policies, is worried that borrowing from the Social Insurance Fund has reached a “tipping point” threatening to derail public finances. In a note to the government, the Fiscal Council has warned that it needs to address its dependency on the Social Insurance Fund, as it now owes
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It is a fact that in recent years, there has been a noticeable increase in the level of residential rents, especially in those located within town centres and universities or colleges. On the one hand, the government is trying with various means and incentives to contain rents; on the other hand, it is handling the
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By Craig Erlam If you’re a Federal Reserve official, you’ll find it hard not to be very pleased with the way this week’s gone from a labour market data perspective. The JOLTS release at the start of the week was extremely encouraging as it continued a clear trend that brought the number of vacancies back
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