By Lukman Otunuga, Senior Market Analyst at FXTM Most Asian shares flashed red on Wednesday, with Chinese markets under renewed selling pressure after disappointing PMI data fuelled concerns over its weak economic recovery. European futures are pointing to a negative open despite stocks closing higher in the previous session, as investors turn cautious ahead of
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Fuel prices are set to decrease by three cents per litre in the coming days, Energy Ministry spokesperson Constantinos Karagiorgis said. “It is expected that in the next few days, either this week or early next week, there will be a reduction in prices of up to 3 cents at the pump,” said Karagiorgis in
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By Craig Erlam Tuesday has been a relatively quiet session with the US bank holiday weighing on activity and those remaining having an eye on Friday’s jobs report. But the day hasn’t been without interest as the RBA opted against hiking interest rates again. The Australian central bank surprised last time in raising rates another
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Briton Ellie Horrocks, 22, has awakened from an induced coma after suffering a serious head injury and fractures to her spine when her buggy flipped in the holiday resort of Ayia Napa. Ellie, 22, from Westhoughton, Bolton, was rushed to hospital on June 26 following the horror crash. Doctors were forced to put her into
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Opposition parties criticised Legal Services for taking a decade to settle a property claim from a Turkish Cypriot, costing the state hundreds of thousands for the delay. A Turkish Cypriot with American citizenship was awarded €345,000 in compensation in June 2022 for losing access to his property while regaining ownership from the Interior Ministry. Orhan
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Cyprus and Greece vowed Tuesday that no faits accomplis could be accepted on the island, nor any solutions favouring partition as Turkey demands. Foreign Minister Constantinos Kombos and his Greek counterpart Giorgos Gerapetritis held a joint press conference in Nicosia after the Greek diplomat’s first overseas visit since his appointment. “We are not going to
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Cypriot authorities intercepted a boat carrying 20 Syrian migrants off the island’s southern coast at Cape Greco, Ayia Napa and brought safely to shore. Police said that members of the coastguard were alerted after radar spotted the presence of a small boat carrying a number of refugees just off Cape Greco at around 9 pm
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The Labour Ministry will review regulations governing retail shops’ operating hours, including the right to remain open on Sundays, 10 years after its introduction. Following a meeting with the small shopkeepers’ union POVEK on Monday, Labour Minister Yiannis Panayiotou said the matter would be reviewed in consultation with all stakeholders. Panayiotou’s comments essentially reopen the
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The Central Bank of Cyprus said it would accept requests for reduced legal costs in lawsuits filed by bondholders of the Bank of Cyprus or Laiki Bank, who saw their savings wiped out during the 2013 financial crisis. According to the CBC, the requests concern lawsuits that have been submitted against it and are about to
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Revenue from the key tourism sector reached €418 mln in the first four months of 2023, marking an increase of 30% from last year and up 11.3% on the pre-Covid record-breaking 2019. According to the results of the Passenger Survey, revenue from tourism in April was €217.6 mln, up by 17.6% compared with April 2022,
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