By Craig Erlam Equity markets are poised to open in the green once more on Thursday, continuing what has been a rather strange week of trade so far. We’ve gone from euphoria at the start of the year on the back of some really encouraging economic data, to turning a blind eye to it when
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Upon signing the Recovery and Resilience Plan “Cyprus Tomorrow”, the authorities have committed to achieving zero carbon dioxide emissions by 2050. After all, this is included in the 17 United Nations Sustainable Development Goals (Goal 13 for Climate Change). A key requirement for the achievement of Goal 13 is the financing of the so-called “green
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In the fourth quarter of 2022, GDP growth in Cyprus was estimated to have increased by 1.1% compared with the previous quarter, while EU growth was static. This compares with a 0.1% increase in the euro area and no increase in the EU. Annually, the Cyprus economy grew 4.4% compared with Q4 2021. According to a
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According to PwC’s in-depth analysis, the total value of Cyprus real estate transactions reached a record-high of €5.2 bln in 2022, recording an annual increase of 27%. In volume terms, properties transacted last year reached 22,500, up 12% from the previous year, surpassing pre-pandemic 2019 levels by 31%. During the year, Limassol, Larnaca and Paphos
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Dairy producers can make Halloumi spinoffs, such as burgers and fries, under the EU-approved Product of Origin file (PDO), following a decision by the Ministry of Agriculture. The ministry approved the latest changes and published them in the official gazette. The decision allows dairy producers to continue producing halloumi offshoots for the local market and
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Cyprus airports operator Hermes is optimistic about tourism prospects for 2023, confident the island can improve from the previous year. In an interview with news site Stockwatch, Hermes Airports senior manager Maria Kouroupi said that available data support the industry’s hopes for the continuation of a steady recovery in 2023 following three very challenging years.
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Israel’s first-ever stream of crude oil exports to global markets was launched from Energean’s Karish development in the eastern Mediterranean. The crude shipment was loaded this week from the Energean Power Floating Production Storage and Offloading unit, a giant vessel used to develop the Karish gasfield. Energean’s FPSO is part of a development that has
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By Craig Erlam Equity markets opened a little softer on Wednesday following similar moves in Asia overnight, as investors weighed up the latest setback in US data. The inflation report needed to over-deliver after the red-hot labour market figures earlier in the month and it simply didn’t do it. The trend remains positive, but it
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On Wednesday, the Cabinet held a minute’s silence for the Turkish Cypriot victims of the deadly earthquakes in Turkey and Syria while approving disaster aid of €500,000 for both countries. Acting government spokesperson Niovi Parisinou said: “President Nicos Anastasiades reiterated his sorrow and pain inflicted on the Turkish Cypriot community, expressing the government’s sincere condolences
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Using lead shot ammunition in wetlands is now illegal in all 27 EU countries, including Iceland, Norway, and Lichtenstein, but conservationists say monitoring must be tougher in Cyprus. The law comes into force Wednesday following a 2-year “grace” period given to the EU countries to prepare for the change. With this law in place, the
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