Arturo Bris, Professor of Finance at IMD Business School and Director of the World Competitiveness Centre, predicts that a global economic crisis is likely and that not enough action is being taken to avoid it. Based on statistics, he said the world could expect a financial crisis as soon as April 2015, ending in March
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* Sellers include smaller boutique managers and bank/insurance companies * Moody's expects increased merger and acquisition (M&A) activity among asset managers, as an improving economy and higher valuations offer stronger growth, Moody's Investors Service said in its new report "Confidence Among Asset Managers Will Drive Greater Industry Consolidation." "Asset managers are motivated to buy now
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* Increasing use of Internet and social media to compare and buy * A new breed of customers, namely the digital natives, is expected to dominate the life insurance sector, according to PwC’s latest insurance report – Forcing the pace: The fast way to becoming a digital front-runner. These consumers are better informed, more connected
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The European Financial Stability Facility (EFSF) has approved the disbursement of 1 bln euros to Greece, taking into consideration the full implementation of a set of milestones agreed in April. This is the second tranche of the total EUR 8.3 bln instalment approved by the Eurogroup following the conclusion of the fourth review mission of
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Cyprus President Nicos Anastasiades and President of the European Council Herman Van Rompuy discussed issues related to the forthcoming meeting of the European Council that will be held in Brussels on July 16. According to a written statement by Government Spokesman Nicos Christodoulides, Herman Van Rompuy communicated today by telephone with President Anastasiades and during
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Cyprus remembered today the victims of the deadly blast that occurred in 2011 at the naval base near Limassol. A memorial service was held in the morning at the “Evangelos Florakis” naval base, on the southern coast, where the explosion occurred on July 11th 2011 claiming the lives of 13 men, naval personnel and firemen.
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Daily Market Report Βy Jameel Ahmad, Chief Market Analyst at FXTM The surprising bullish momentum for the EURUSD abruptly ran out of steam yesterday, with the European markets hit by emerging concerns of accounting irregularities at the parent group of one of Portugal’s largest banks. The EURUSD declined by up to 60 pips throughout the
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Cypriot Enterprise Link and Startup Europe co-organized the event “Entrepreneurship in Europe: Opportunities for Cyprus” that took place on July 7th at the CYTA Amphitheatre in Nicosia. The event, which was supported by Cyprus Telecommunications Authority and Action Global Communications, aimed at presenting various funding and other opportunities for startups in Cyprus, including Startup Europe,
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Cyprus recorded the third largest annual decline in house prices in the EU during the first quarter of 2014, according to data released Thursday by Eurostat. Prices fell by 5.7% in Cyprus in the first quarter of 2014, compared with the same quarter of the previous year. The largest decline was recorded in Croatia (-9.7%)
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A meeting took place on Thursday between the leaderships of the Research Promotion Foundation, the Cyprus Employers and Industrialists Federation (OEB) and the Cyprus Chamber of Commerce and Industry (CCCI), with the aim to enhance the ability of Cypriot research/academic centres and enterprises to absorb more funds from the EU programms on research and innovation.
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