By Craig Erlam A mixed session in Asia overnight after Wall Street rebounded on Wednesday, while Europe opened a little higher as well. Frankly, it’s been an awful few weeks for stock markets so Wednesday’s gains will come as a mild relief, albeit one not to get particularly excited about. Given the economic backdrop, this
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An agreement with pharmaceutical companies to always distribute the COVID-19 vaccine in its updated form was achieved during the informal EU Health Ministers’ meeting in the Czech Republic. The deal was sealed after an intervention by the Health Ministers of Cyprus and Greece, Michalis Hadjipantela and Thanos Plevri. An official statement said that after the
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Authorities are toughening laws on dog ownership to clamp down on pet abandonment and reduce the number of strays on the island’s streets and attacks. A bill approved by the cabinet comes a week after an eight-year-old child was seriously injured in an attack by a stray dog in Limassol. The bill amends the national
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After a brutal comedown and one of the worst crypto price drops in years, cryptocurrency traders are showing renewed confidence, with many looking for a piece of the volatile market. The crypto market’s trading volume increased 11.8% to $75.7 bln on the last day of August. However, some crypto coins witnessed increased trading activity throughout
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S&P Global Ratings raised its long-term issuer credit rating on Bank of Cyprus to BB- from B+, citing improvements in its asset quality and easing of economic risks. The upgrade of the island’s largest lender follows the upgrade of Cyprus’ long-term sovereign ratings last week. “The upgrade on BoC reflects the material improvements achieved in
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Romanian low-cost air carrier Blue Air suspended all flights from Wednesday until 12 September, spreading concern among analysts that Cyprus could feel the knock-on effect. Blue Air carries out some seven weekly flights from Larnaca Airport to Athens and destinations in Romania. The airline said it would be grounding all aircraft upon their return to
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President Nicos Anastasiades has congratulated the new UK Prime Minister Liz Truss and wants to work with her to enhance further and deepen the longstanding partnership. “Cyprus and the UK share historical ties and a strong bilateral relationship. “I look forward to working with you to enhance further and deepen it,” tweeted Anastasiades. He added:
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US private equity firm Lone Star could return with the fourth attempt at a Bank of Cyprus takeover, despite seeing three cash offers rejected by the island’s biggest lender. In comments to international media, Lone Star officials confirmed they are considering their options regarding submitting a revised offer for the acquisition of Bank of Cyprus.
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Cyprus justice is close to delivering the first verdict involving Cypriot law firms who allegedly facilitated dubious foreign investors acquiring passports via the disgraced citizenship for investment scheme. Following a lengthy court procedure, the Criminal Court has completed a case involving passports issued to three Iranian investors, with judges set to announce their ruling on
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The Education Ministry has signed a €20 mln contract to provide IT support services, paving the way for the transition to digital schools. The contract was signed at the Presidential Palace on Tuesday, with President Nicos Anastasiades heralding it as one of the largest and most important digitisation projects. The project is funded by national
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