By Craig Erlam Investors are opting for caution at the end of another strong rebound week, with equity markets a little lower as we near the close. The rebound we’ve seen over the last couple of weeks has been nothing short of extraordinary. So much so that it’s fair to suggest we’re seeing an unhealthy
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Cyprus is witnessing another surge in COVID-19 cases, as health authorities report that the island’s 14-day notification rate has increased by 21% reaching an average 3,771.2 daily from 3116.4 reported two weeks ago. Specifically, in the first 14 days of March, a total of 33,488 coronavirus cases have been reported out of 49,534 PCR and
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The invasion of the Russian military in Ukraine is at the forefront of the international scene. The world’s attention has turned, with grave concern, to what is happening in Ukraine. This invasion is contrary to international law and violates European human rights. I call for the respect of the territorial integrity of every state. This
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A leading indicator that serves as an early warning signal for changes in Cyprus economic activity, saw a year-on-year growth in February, prior to the full scale of the current crisis with the situation in Ukraine and sanctions “partially reflected” in the data. However, economic indicators and business confidence surveys are expected to deteriorate as
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Cyprus reported one coronavirus death on Thursday, as new daily cases remained above the 3,000 mark and rose further to 3,951, with hospitalisations dropping to 113, of whom 22 remain in a critical state. The Health Ministry said in its Covid bulletin that the latest victim was an 84 year old man, raising the March
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Rising prices of raw materials in Cyprus are largely to blame for a growing trade deficit, wider by almost 20% in January, compared to the same month last year, according to stakeholders. The trade deficit, as announced by the statistical service Cystat, increased by 19.4% in January compared to the same month in 2021, rising
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By Roland Jackson The Bank of England on Thursday hiked its main interest rate to its pre-pandemic level to combat runaway inflation that risks soaring far higher as the Ukraine conflict fuels energy costs. The BoE hiked borrowing costs by a quarter-point to 0.75%, its third increase in a row. The decision came one day after the
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Cyprus will be looking to upgrade its role as an alternative energy hub and supplier to the EU, making the most of its untapped natural gas reserves and upcoming electricity interconnectors with Israel, Egypt and Greece. Energy Minister Natasa Pilides said in an interview that the island’s energy projects have regained lost ground in the
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Oil prices soared Thursday on tensions surrounding key producer Russia, as equities diverged with traders also tracking interest rate decisions and China’s pledge to support volatile markets. The price of benchmark oil contract, Brent North Sea crude, jumped more than 5% to back above $100 per barrel after Russia rejected a ruling from the UN’s
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European stock markets climbed at the open Thursday, with investors widely expecting the Bank of England to announce a third straight interest rate rise to combat decades-high UK inflation. London’s benchmark FTSE 100 index climbed 0.5% to 7,330.57 points. In the eurozone, Frankfurt’s DAX index grew 0.4% to 14,500.41 points and the Paris CAC 40
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