Cyprus reported three coronavirus deaths on Tuesday, as new cases tapered off to 4,673 after spiralling to a near-record 5,286 the previous day, prompting the authorities to hold back on lifting pandemic measures. However, with a proportional drop in the number of tests, the benchmark ‘positivity rate’ broke a new record of 4.92%, five time
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The impact of Russia’s invasion of Ukraine is now reflecting in the net worth of the country’s elite business people known to control vast fortunes, as the economic sanctions imposed by the West have seen these wealthy individuals, some known as ‘oligarchs’, incur significant losses. Data acquired and calculated by Finbold indicates that Russia’s ten
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Cyprus will be rolling out a second COVID-19 booster shot for the elderly and vulnerable, and a first booster shot for children aged 12 to 17, while no further relaxations are expected any time soon. Following a new surge in daily coronavirus cases to nearly 5,300, and an uptick in hospitalisations, the cabinet on Tuesday
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The Cyprus government has appealed to Brussels to be allowed to step in and support the island’s farmers who are struggling with skyrocketing prices of animal feed in the aftermath of the war in Ukraine, said Agriculture Minister Costas Kadis. Speaking on state radio CyBC, following Monday’s meeting of the EU agriculture and fisheries council
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Paphos remains an attractive destination for British tourists despite the increase in the costs of goods and services around the world, as a UK survey rates the town as the fifth best value holiday destination for British travellers. The latest British Post Office annual holiday costs barometer surveyed 36 destinations to compare the cost of
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By Lukman Otunuga, Senior Research Analyst at FXTM Asian stocks traded higher Tuesday morning, while European shares rose after Fed Chair Jerome Powell struck a more hawkish tone on monetary policy. In the currency arena, king dollar received fresh inspiration amid new rate hike bets as the selloff in bond markets deepened with 10-year Treasury
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RCB Bank has sold a good part of its loanbook, described as a “performing loan portfolio” which is well collateralised and comprises of mainly corporate loans, to Hellenic Bank for €556 mln, helping the latter reduce its exposure to non-performing loans significantly. It also helps RCB create an additional liquidity buffer to meet clients’ obligations
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Cyprus reported one coronavirus death on Monday, with new cases spiralling to a near-record 5,286 and hospitalisations rose to 149, prompting the authorities to reconsider relaxing restrictions. The Health Ministry said it will hold back on lifting some measures, such as removing the use of masks in public areas, and will reconsider changes during the
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By Craig Erlam It’s been a flat start to the week in equity markets, with Europe posting marginal losses or gains. There’s been so much to absorb in recent weeks and while there remains an enormous amount of uncertainty – be that the Ukraine-Russia negotiations, commodity prices, inflation, interest rates – it may be that
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The government will be sticking to its ten-year action plan to support the island’s mountain communities, pumping in some €525 mln through 350 activities by the end of 2030, President Nicos Anastasiades pledged on Monday. The president announced the progress his administration has made in the implementation of the “National Strategy for the Development of
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