EU Justice Commissioner Didier Reynders arrived in Nicosia on Thursday on a two-day visit to discuss with the island’s officials the enforcement of European Union sanctions on individuals and companies with ties to the Kremlin. First on Reynders’ list was a meeting with the island’s Attorney General George Savvides with whom he reviewed Cyprus’ implementation
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Artificial intelligence is estimated to grow from a market worth $207.9 bln at present to $1.87 trln by 2030, surging by 788.64% to the end of the decade, according to estimates. The AI market is anticipated to exceed the $1 trln threshold for the first time in 2028 at $1.06 trln, according to data obtained
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Consumers will be paying zero VAT on a number of essential commodities for the next six months as of Friday, as the government introduces its latest measure to relieve households from ongoing inflationary pressures. The reduction was greenlighted by the cabinet on Wednesday, as despite March seeing the lowest inflation rate for 13 months, households
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The Federal Reserve has made a mistake by delivering a 25 basis-point interest rate hike amid ongoing financial market turmoil and recession red flags, warned the CEO of a leading financial advisory and fintech. Fed Chair Jerome Powell at Wednesday’s meeting of the FOMC (Federal Open Market Committee) – the branch of the US central bank
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AstroBank, the fourth largest lender in Cyprus, has reported profits for a second year in a row, as the bank’s management eyes to make its presence felt in the financial sector. Presenting its annual results for 2022 on Wednesday, AstroBank’s management reported a net income of €12.2 mln for the year 2022, compared to €3.3
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By Craig Erlam The Federal Reserve will announce its latest interest rate decision later Wednesday and investors will be hanging on every word in light of recent banking sector instability. This was always likely to mark the end of the US central bank’s tightening cycle – not that it has explicitly signaled this – but
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President Nikos Christodoulides has decided to keep a state subsidy on fuel prices at the pumps unchanged, despite an earlier decision to halve it in May that would have pushed prices up by four cents a litre. As announced on Wednesday, the President signed the law extending the freeze on consumption tax on fuels that
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By Han Tan, Chief Market Analyst at Exinity Group Markets are widely expecting a 25-basis point hike by the Federal Reserve on Wednesday; anything else would be a shocker. What’s less certain is whether the Fed is truly ready to pause after this week’s hike. Policymakers have to preserve their inflation-fighting credibility while taking into
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Demand for life insurance and critical illness policies is soaring as people see an easing in the cost-of-living crisis, a survey by a leading financial advisory has found. Enquiries among deVere Group clients about life and health insurance surged 65% in April compared to the month before, the company said. Life insurance is designed to
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A 24-year-old Cypriot held as the main suspect in the disappearance of a man whose torched vehicle was found in rural Nicosia, is now facing additional charges of premeditated murder, as police said more evidence emerged on Tuesday. The 24-year-old was remanded for another eight days by a Limassol court on Tuesday on murder charges,
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