Concerns about a global economic slowdown impacting demand overshadow Saudi Arabia’s promised output cuts. The market sentiment has also been affected by rising fuel stocks in the US and disappointing Chinese export data. Following the announcement, instead of rising, the oil price has been dropping, now at about $74.50/bl, down 3% since before the Saudi intervention.
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Cyprus football’s reputation continues to be tarnished by corruption claims after the head of the National Betting Authority was under criminal investigation for refusing to provide information on match-fixing. The revelation came to light when the House Ethics Committee called Ioanna Fiakkou after she refused to provide information about corruption in football. Reportedly, Fiakkou refused
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As the date of the NATO summit (July 11) in Vilnius approaches, the question of Sweden’s accession to the alliance is gaining currency because of Turkey’s opposition. On May 16, 2022, the government of Sweden decided to apply for NATO membership, and on July 5, 2022, all NATO countries signed the Accession Protocol for Sweden.
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Something is changing in Larnaca, with many projects going on in the public and private sectors. What is noticeable is the ongoing “renovation” of the old town extending from the coastal line to Gregori Afxentiou Avenue and from the Makenzie beach area to the former gas installations. The Larnaca marina/new port is underway, and although
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Follow-through from last month’s G7 meeting, when “increased deliveries of LNG” and “publicly supported gas investments” were endorsed, has started to emerge. US public finance has started to flow for LNG, despite a pledge last year to end public finance for international fossil fuel projects by the end of 2022. Russian company Novatek said it had
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By Craig Erlam Markets ended the week on a positive note, but there remains enormous uncertainty around inflation and interest rates that look set to continue throughout the summer. Expectations are changing considerably on a regular basis, with markets now pricing in no rate cuts in the US this year, but a strong chance of
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The European Parliament has adopted the findings of an inquiry commissioned to investigate the use of surveillance software among EU member states, which implicated Cyprus as an export hub for spyware. MEPs called on Nicosia to repeal spyware export permits and fully investigate allegations of illegitimate use. Cyprus had played a major role as an
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Despite the Republic of Cyprus meeting the minimum standards to eliminate people trafficking, challenges persist, said the US State Department’s annual report. According to the report, Cyprus has demonstrated serious and sustained efforts in combating human trafficking, resulting in its continued placement in Tier 1. However, the report highlights a decrease in the number of traffickers convicted
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The Technical Committee on Cultural Heritage has completed conservation works at Ayios Georgios and Panayia Ayia Napa churches in Turkish-occupied Famagusta, the EU and the United Nations Development Programme said. UNDP Cyprus, Head of Office, Jakhongir Khaydarov, expressed his appreciation for the successful completion of these conservation works, pointing out that it represents a significant milestone
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Cypriot Football giants Omonia Nicosia was shocked to its foundations after the club’s investor Stavros Papastavrou announced his resignation, spreading uncertainty over the team’s future. New York-based Papastavrou went live on Omonia FC TV on Thursday to announce his decision prompted by failed discussions with the club to tweak the existing management deal; he blamed
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