By Naeem Aslam US and European futures are trading mostly higher on Wednesday, while most of the US and European stock indices remain in negative territory. Investors are largely confused: is the current weakness in the market just a correction or is the stock market rally that we experienced so far this year over due
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The discussion over increasing speed limits on Cyprus roads has been shot down by authorities before even getting off the ground, despite the island having one of the lowest speed limits in the EU. Currently, the speed limit on the island’s highways is 100 km per hour, with authorities tolerating motorists hitting up to 120
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Police arrested four Syrian men during a large-scale operation to dismantle a migrant trafficking network in the early hours of Wednesday across Cyprus. According to information obtained by the Financial Mirror, four people of Syrian origin have been arrested, and at least four others are being sought. The men were arrested in Limassol. The operation
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By Craig Erlam Recent UK economic data has been a mixed bag, with wages rising at a much-accelerated rate, but inflation decelerating as expected. While the Bank of England will be relieved at the latter, the former will remain a concern, as wage growth even near those levels is not consistent with inflation returning sustainably
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Preparing a national strategy for the diaspora is a priority for the administration of President Nikos Christodoulides, government spokesman Konstantinos Letymbiotis told the World Conference of Cyprus Diaspora. Letymbiotis said it was the largest conference of diaspora Cypriots ever organised. “For decades, our expatriates have been present in every struggle to promote and contribute, to strengthen
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The annual inflation rate in Cyprus was 2.4% in July, dropping from 2.8% in June and 10.6% in July 2022, according to Eurostat, the statistical office of the EU. Inflation also dropped to 5.3% in the eurozone (from 5.5% in June and 8.9% in July 2022) and to 6.1% in the EU (from 6.4% in
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Paphos municipality has taken delivery of a pair of small electric garbage trucks to be used mainly in the crowded centre of the old town, paved and pedestrian areas on the coastal road. The town’s mayor, Phedonas, took delivery of the DuroCar EV trucks from Demetriades Handling Equipment in a tender worth €45,220. He said
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A naval exercise between Cyprus and the United States off the island’s coast involved advanced manoeuvres, technical drills and search and rescue operations using helicopters. In a statement, the National Guard said with the presence of the US Navy – Guided Missile Destroyer DDG 61 – USS Ramage in the island’s waters, the Naval Command
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The sky over Cyprus was lit up by a meteor entering the Earth’s atmosphere, burning up on the way, according to astrophysicist Chrysanthos Fakas. “On Monday night, those who were lucky saw a fireball lighting up the Cypriot sky. “It was a meteor that entered the Earth’s atmosphere and, due to its pull from our
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July was the month when investor consensus pivoted from a recession to a soft landing for the US economy. August is set to be the month when investor focus pivoted from the short term to the long term. And if you expect the US economy to land softly, you then also have to ask, “Land
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