With Christmas just around the corner, DHL Cyprus has received an award at the Social Responsibility REACTION Excellence Awards 2014. The Awards ceremony organised by REACTION Youth for the Prevention, a non -profit organisation, recognises DHL’s social contribution as well as the support it has provided to the organisation over the last year. During the
More
By Jameel Ahmad, Chief Market Analyst at FXTM The Renminbi weakened overnight against the US Dollar to 6.2295, a level not seen in the past six months, with ongoing concerns that China’s economy is continuing its downturn. The weakness in the Renminbi intensified following the unexpected manufacturing PMI contraction last week, with many now expecting
More
Fastest connection to ski resorts in Germany, Austria and Switzerland Lufthansa customers will be able to reach the ski slopes even faster this winter. A new helicopter service from Munich will commence on 1 January 2015. Lufthansa’s hub in southern Germany is the perfect departure point to reach the nearby ski resorts as quickly as
More
EU leaders have approved an ambitious plan that will see some €315 bln pumped into the European Union, to prop up employment initiatives and revive investments that in turn will make the 28-state economy more competitive. However, the deal came with reservations and differences from among EU leaders. European Council President Donald Tusk said on
More
The Ifo Institut announced its Business Climate Index for industry and trade in Germany which it said rose to 105.5 points in December from 104.7 last month. Positive assessments of the current business situation remained unchanged and the outlook for the months ahead continued to brighten. Dropping oil prices and a falling euro exchange rate
More
Ukraine’s Prime Minister Arseniy Yatseniuk said on Wednesday that his country was losing about $300 mln a year to tax-free investments in Cyprus, an argument he sued to justify the abolition of the present double-taxation avoidance treaty. This is the second blow to the struggling Cyprus economy in a month, with Russia’s President Vladimir Putin
More
After heavy selling on the first day it was re-listed on the Cyprus and Athens stock markets, Bank of Cyprus (BOCY) eased up a bit and was headed to close on Wednesday with a minimal gain at just above 18c where it sank to on Tuesday after a 21-month absence from the bourses. Volume was
More
Finance Minister Haris Georghiades said that welfare payment and public expenditure are up by 5.3% and 5.2%, respectively, in the 2015 State Budget narrowly approved by parliament on Tuesday night. In his first post-Budget comments on Wednesday, Georghiades said that although satisfied with the vote of approval, which will help in the efforts to reform
More
By Jameel Ahmad, Chief Market Analyst for FXTM The doctor seems to have prescribed an extreme dose of volatility to the financial markets, with no signs of this easing as we head into Christmas. The pressure we have been noticing in global stocks this week (as a likely reaction to the lower oil prices) is
More
Real agricultural income per worker in 2014 is estimated to have risen in Cyprus by 1.8%, while in the EU28 it has decreased by -1.7%. According to Eurostat, it is estimated to have risen in eight member states and fallen in 20. The highest increases are expected in Slovenia (+13,3%), Hungary (+9,1%) and the Czech
More