The Cabinet decided to strip citizenship from another 10 individuals, among thousands who benefited from a cash-for-passports scheme which collapsed under accusations of corruption in 2020. Cyprus gave passports to more than 7,000 people under a citizenship scheme which, in its final form, gave citizenship to individuals investing a minimum €2 million. It was popular
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The prevailing crypto winter has partly forced some investors to take a back seat while monitoring the market for signs of a possible rally. However, this is not the case for a section of American investors who seem unfazed by the prolonged market downturn. According to data acquired by Finbold, the share of Americans investing
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The transport ministry will be launching the second phase of a €30 mln incentive scheme to convince motorists to go electric in the coming months, with the island expected to have 1,000 charging points within two years. Following the success of the first phase of the incentive scheme, which saw hundreds of motorists getting generous
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The UK faces the threat of significant long-term financial instability unless the Bank of England and the government work together on a long-term plan to calm markets, the CEO of a leading financial advisory and fintech has warned. “The bond market is in utter chaos again. This has forced the Bank of England to step
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Cars will be banned from the capital’s once-bustling Makarios III Avenue, as the initial traffic plan for the heart of the capital goes into effect this month, paving the way for a greener city centre. As of October 20, Makarios Avenue will only be accessible to buses, supply vehicles and emergency services, as well as
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By Craig Erlam Stock markets are recovering slightly on Wednesday after another volatile start to the week. It’s clear that investors have one eye on the US this week, with Fed minutes Wednesday evening, US inflation data on Thursday and the start of earnings season likely to be the primary drivers into Friday’s close. Any
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Another busy month at Cyprus airport, as tourists make the most of the last sunny months of the season while Cypriots are getting their last short getaway before Christmas. According to data released by airports operator Hermes, in September, passenger traffic at Larnaca Airport spiked 31.4% to 728.300 travellers from 554.300 in September 2021. Compared
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The bad blood between Hellenic Bank’s CEO, Oliver Gatzke, and major shareholders appears to be behind the board’s decision to sideline the German after allegations of market abuse. In a statement to the Cyprus Stock Exchange on Monday, the island’s second-largest lender informed the authority it had suspended its CEO pending their investigation into the
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The much-awaited liberalisation of Cyprus’ energy market has been slotted for mid-2023, as the government informed the House it is adding the final touches to the regulatory framework. The Transport Ministry told MPs on Tuesday that authorities will submit regulations for the Transmission System Operator authority within the coming weeks. In comments following a meeting
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By Lukman Otunuga, Senior Research Analyst at FXTM A sense of deep unease rippled through financial markets on Tuesday as concerns over the global growth outlook and geopolitical threats left investors on edge. European stocks were painted red Tuesday morning amid fears around untamed inflation pushing interest rates higher at the expense of economic growth.
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