By Craig Erlam Uncertainty sums up the feeling in the markets at the moment and that is highlighted by the moves seen on the opening day of the week. Equity markets in Asia were a mixed bag, with the Shanghai Composite and Hang Seng making decent losses, while those elsewhere made steady gains. Europe was
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Cyprus tourist arrivals have reached 80% of pre-pandemic 2019, with visitors from the EU boosted by 22%. Tourism Minister Savvas Perdios told MPs the EU tourism market is “the most stable framework for the development of our tourism” over the next three years. He argued the tourism identity of Cyprus has changed, while the amount
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Cyprus had the largest rise in the EU in its tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of gross domestic product, according to Eurostat data. The country’s tax-to-GDP ratio increased from 34.0% in 2020 to 36.0% in 2021. Overall, the EU’s tax-to-GDP ratio stood at 41.7% in 2021,
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The impact of European Union measures against Russia on Cyprus’ maritime industry is “totally manageable,” said shipping minister Vassilis Demetriades. Briefing the parliamentary committee on budgetary affairs, Demetriades said that 144 ships had been delisted from the Cypriot registry in the first ten months of 2022, as they could not remain under the Cypriot flag
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More than two-thirds of bitcoin investors have no plans to sell their holdings in the next five years, according to a survey of cryptocurrency clients of financial advisory and fintech deVere Group. The survey found that 68% of 624 people questioned worldwide said they would “hodl” for at least five years. ‘Hodl’ is a crypto
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Cyprus is among the leading countries to adopt the ‘right to be forgotten’ for cancer survivors, according to Health Minister Michalis Hadjipantela. He spoke at the ‘Race for the Cure’ event in Nicosia, organised by Europa Donna, aiming to raise awareness for breast cancer. “We reached an agreement on the right to be forgotten for people with cancer
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The government intends to proceed with the immediate deportation of those who took part in violent clashes at the Pournara Reception Center, Interior Minister Nicos Nouris said. He visited the migrant centre at the weekend to examine the situation following clashes among asylum seekers on Friday. During the incidents, a fire broke out in the camp, with hundreds
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Yields of Cypriot bonds issued domestically rose significantly in the last months, reflecting the policy rate hikes of the European Central Bank (ECB) in its effort to curb soaring inflation. Cypriot 13-week Treasury Bills for October 2022 weighted average yield rose to 1.62% from 1.08% the previous month and just 0.42% in the August auction.
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Cypriot race driver Vladimiros Tziortzis won the biggest distinction in his career and Cyprus motorsport history after finishing third place at the 2022 EuroNASCAR 2 championship. After a recent injury and wrist surgery three weeks ago in Belgium, Tziortzis had dropped to fifth place in the ranking, but his second place on Sunday in Croatia, moved him
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The appetite for challenger banks remains high as consumers increasingly embrace digital solutions to benefit from elements such as convenience in banking. Consequently, more challenger bank operators are joining the market while defying the economic meltdown. In particular, data acquired by Finbold indicates that as of October 2022, there were 291 challenger banks worldwide. The
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