By Craig Erlam Investors appear to be treading carefully ahead of some key interest rate announcements this week, most notably the Fed on Wednesday and the ECB a day later. Eurozone inflation data for April didn’t throw up any nasty surprises a couple of days before the central bank makes its decision, rising slightly to
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Moody’s has identified Cyprus as a “potential rising star” to see its rating raised to ‘investment grade’ after 11 years of lingering in junk mode, according to a report released on Monday. The rating agency cited the island’s significant improvement in the public debt-to-GDP ratio as a key factor in its positive outlook, in its
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By Jameel Ahmad, Chief Analyst at CompareBroker.io They say that “if at first you don’t succeed, try, try again” and that has very much been the story of Gold buyers who have repeatedly threatened to open the doors of $2,000 and finally managed to do so on Monday. The stay above $2,000 was brief, but
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Almost 10,000 highly skilled and highly paid Ukrainian refugees have joined the island’s work force, paving the way for a number of socioeconomic and demographic changes to the structure of Cypriot society. In just over a year since Russia’s invasion of Ukraine, 9,000 highly skilled Ukrainians were granted a working permit, employed by high tech
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By Edward Moya Wall Street is breathing a sigh of relief as the largest US lender, JPMorgan, will acquire First Republic Bank. It is starting to look like a few major banking issues will not end up leading to a crisis, as in less than two months, the US has seen three of the top
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The crypto market is expected to gross $37.8 bln in revenue this year, 105% more than in 2022, and almost half of that value will come from the United States, the world’s largest crypto market. However, the U.K. is expected to witness much more significant growth, according to data presented by BitcoinCasinos.com, Britain has the
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UK expats suffer collateral damage, as permanent residency criteria tightened UK and other non-EU pensioners eyeing a retirement home in Cyprus need to rethink their plans as authorities have raised the bar for permanent residence permits. The government has tweaked regulations by tightening criteria for residency permits, in a bid to comply with EU anti-money
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By Moody’s Analytics The U.S. economy had perked up in the second half of 2022, with growth averaging near a modestly above trend 3%. However, this came on the heels of declines in GDP in the first half of last year, and it quickly proved unsustainable in the environment of high and rising interest rates
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US banks continuing to increase emergency loans from the Federal Reserve will hinder attempts to cool inflation, giving the central bank more reason to continue interest rate hikes. Nigel Green, the CEO of deVere Group, warned that new data shows that banks’ demand for loans from the Fed increased for the second consecutive week. The
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The Cypriot Government, in an attempt to attract foreign investment to the island and to help economic recovery and further economic growth, introduced Regulation 6(2) of the Aliens and Immigration Regulations which gave non-EU nationals, who invested in Cyprus, the right to permanently reside on the Island, provided certain criteria were met. In order to
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