With US inflation remaining stubbornly high, sectors that do well in a stagflationary environment are those that are likely to secure best returns for investors, according to the CEO of a leading financial advisory and fintech. Thursday’s March Consumer Price Index data showed that annual inflation rose by 5.0% year-on-year, after increasing by 6% in
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Business leaders are concerned over banks swiftly sending loan rates higher but not doing the same for savings. In a statement, the Cyprus Chamber of Commerce and Industry (CCCI) voiced its “extreme concern” over commercial banks’ interest rate policy following a domino of hikes decided by the European Central Bank. The CCCI said: “While it
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Energy Minister George Papanastasiou has discussed with consortiums the option of importing natural gas quantities from Cyprus’ Exclusive Economic Zone for power generation in combination with LNG exports via a small plant. He commented to CNA after ENI’s Chief Operating Officer for natural resources, Guido Brusco, revealed to industry news site Upstream Online options to monetize
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Cypriot ‘’financial fixers’’ have been sanctioned by the UK and the USA for allegedly helping Russian oligarchs hide their assets following sanctions imposed on Moscow over Ukraine. Ten Cypriot “oligarch enablers” have been sanctioned by the US and the UK. The UK government has accused two Cypriots of allegedly knowingly assisting the billionaire Russian oligarchs
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The Open University of Cyprus (OUC) has fallen victim to the notorious Medusa ransomware gang, asking for $100,000 following a cyberattack on the institution’s digital platforms. The gang has stolen personal data from the university’s online platforms while also causing severe disruptions to the organisation’s operations. Last week, the university announced that a cyberattack occurred
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President Nikos Christodoulides has been invited to attend the official coronation ceremony of the King of the United Kingdom, Charles III, next month. The President of the Republic has received an invitation to attend the coronation of King Charles at the beginning of May and will most probably attend the ceremony, a source told the Cyprus
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Cyprus hotels saw an influx of tourists over the Easter holidays and expect local visitors to continue the trend for a getaway during the Greek Orthodox Easter break. In comments to the Cyprus News Agency, the Director General of the Cyprus Hotel Association, Philokypros Rousounides, said that occupancy rates over Easter reached 50% to 60%,
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Information technology is one of the most dynamic fields constantly evolving and significantly affecting our daily lives: the way we live, the way we work and the way we communicate. However, the gender gap in IT is narrowing, but not nearly as fast as it should. Tech companies have a long way to go for
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By Edward Moya US stocks initially rallied after the March inflation report showed consumer prices are decelerating, prompting bets that the Fed might be done tightening. Wall Street wants the Fed to be done with this rate hiking campaign, but with supercore inflation nowhere near target, more work needs to be done. The initial stock
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Cyprus will maintain a sizeable fiscal and primary surplus keeping public debt on a downward path estimated to drop below the 60% GDP eurozone criteria by 2028, the IMF said. According to the IMF’s Fiscal Monitor, following two years of deficits due to the Covid-19 pandemic, Cyprus’ general government balance recorded a surplus in 2022,
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