. The Emerging Market Panic Marcuard's Market update by GaveKal Research With emerging markets in panic mode, investors are bound to be reminded of the enduring observation, first made by the 19th century British businessman John Mills: “Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by
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. Bringing Italian debt under control By Oren Laurent President, Banc De Binary On Friday, the state of Europe’s economic recovery was up for discussion again as Italy's cabinet approved plans for the privatisation of several of its assets in an attempt to reduce the staggering public debt. The government will make private up to
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The Bank of Cyprus decided to release fixed-term deposits worth €950 mln, that were retained in accordance to a recapitalization decree, issued in July 2013 and expire on January 31, 2014. Announcing the decision on Thursday, BoC Board Chairman Christis Hasapis said the move was made after consultations with the Ministry of Finance and the
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Economic sentiment indicator in Cyprus improved for the ninth consecutive month, according to data released by the Commission’s Directorate General ECFIN. The Commission’s paper notes the fact that among the countries under economic adjustment program, in Cyprus the indicator reached its highest level since July 2011. In Cyprus, the indicator rose from 90.3 points in
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VitaTrace Nutrition Ltd (VTN) is among 22 Research Institutes, Universities and companies from 11 European members of a consortium who have been awarded the largest ever European Union grant for research into animal health. The total cost involved is €11’970’000 of which €8’920’000 is funded directly by the European Union under the EU Framework 7
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Although the European Commission took several initiatives in the wake of the horsemeat scandal, which broke out one year ago, the EU consumer organisation (BEUC) says a similar food scandal could easily shake Europe again. Large-scale fraud was one of the reasons behind the scandal last year which revealed that horsemeat had been sold as
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The European Commission issued guidance on Wednesday to EU member states which have rules in place leading to a loss of voting rights for citizens in national elections, simply because they have exercised their right to free movement in the EU. Five member states, namely Cyprus, Denmark, Ireland, Malta and the United Kingdom, currently apply
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Outflow of bank deposits from Cyprus remained in December at a low level for the third consecutive month, reaching 164.6 million euro, according to statistics released by the Central Bank of Cyprus. December 2013 recorded the third lowest amount of outflow since January 2013, when outflow from local banks started. In November 2013 the outflow
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The Cooperative Central Bank, after the issuing of a decree by Minister of Finance Harris Georgiades, is proceeding immediately with the implementation of the voluntary early retirement programme, thus launching "a very ambitious but necessary five-year scheme for the rationalisation of expenditure, totaling €300 million for five years," Chairman of the Board of the Cooperative
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The Israel Electric Corp., as well as the world’s third largest gas exporter, Qatar, are expected to bid for the supply of natural gas to Cyprus, until such time as the island’s offshore gasfields prove commercially viable and start production in about a decade. The Natural Gas Public Company (DEFA/Cygas) has announced an invitation for
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