By Craig Erlam Another UK Prime Minister has resigned and I’ve now lost count of how many Chancellors we’re going to be up to if Jeremy Hunt is also replaced next week. Liz Truss’ position was hanging by a thread and has been since the mini-budget, but that unravelled at a remarkable pace. And now
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As a result of the economic disruptions caused by the pandemic, international trade declined significantly during 2020, with some sectors, such as energy, oil, and gas, more severely affected than others. Although international trade recovered sharply in 2021, resulting in higher total volumes than the pre-pandemic levels, certain sectors, supply chains and companies have not
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Liz Truss has resigned as UK prime minister, with Conservatives expected to choose a new leader within a week. However, her departure could fuel financial market fears as political chaos in the UK heightens, while any relief rally may be short-lived, warned the CEO of a leading financial advisory and fintech. A day earlier, Suella
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Local businesses launched the Cyprus Tech Ecosystem Map, a platform that links the tech and innovation sectors to attract talent and investments. Deputy Minister for Research, Innovation, and Digital Policy Kyriacos Kokkinos stated that the new initiative “is a great asset to be leveraged by the entire ecosystem, local and abroad.” “A platform designed to
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Cyprus expects more heavy rain on Friday, as the Met Office announced that October rainfall had reached over 220% above the average for the month. Earlier in the week, the island was rocked by a stormy weather barrage under the effect of a low-pressure weather system, which is still holding its grip over the island,
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A fifth-floor balcony of a building on a busy Limassol avenue collapsed in the early hours of Thursday; fortunately, nobody was injured or caused damage to vehicles passing by. The balcony collapsed from the fifth floor of an old apartment block called the Marinos Building on Limassol’s Makarios Avenue at 4 am Thursday. Fortunately, the
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A Kingfisher was released back into the wild after it was successfully rehabilitated after being found suffering from exhaustion. Akrotiri Environmental and Education Centre (AEEC) staff and members of the Cyprus Game and Fauna Service helped release it. The bird was found during its migration efforts and underwent treatment at the Game and Fauna Service
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The Interior Ministry refutes Auditor General Odysseas Michaelides’ claims that it has obstructed his office’s investigation into Cyprus’ disgraced cash-for-passports scheme. In reply to the auditors’ accusation, the ministry stated that a list requested contains sensitive information whose confidentiality must be preserved in the public interest. The ministry is seeking legal opinion on the proper
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Governments should provide the necessary support to increase energy supply from the Eastern Mediterranean, said ExxonMobil’s frontier exploration director Tristan Aspray. He told a panel discussion on energy supply and security in Europe at the Economist Summit that new discoveries offshore Israel, Cyprus and Egypt are relatively small and in deep waters requiring an investment
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Chaos in the markets, the cost of living crisis, and central bank interventions bring more anxiety for households and businesses and deliver a robust reminder for investors, says the CEO of a leading financial advisory and fintech. The comment by Nigel Green of deVere Group comes as the UK’s CPI inflation jumped to 10.1% in
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