The use of fintech apps has increased more than 61% since the pandemic started, according to a study by the independent financial advisory deVere Group. The jump comes as financial technology apps show further evidence that the way we manage our finances further shifted in light of the coronavirus pandemic. “Pre-coronavirus, we were already in
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By Andreas Anastasiades Limassol continues to be the most important real estate market in Cyprus, and all available information supports this: sales, rentals, and prices. Contrary to popular opinion, the Limassol real estate market is not showing signs of saturation, and despite existing issues and occasional fluctuations, it continues to be dynamic. The repeal of
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Cyprus saw an increase in daily coronavirus cases again, rising to 845 on Wednesday, significantly higher than Tuesday’s 760, with Larnaca reporting the highest concentration rate of new infections. The health ministry said in its daily bulletin that three people died of Covid-19, with the April death toll rising to 50 and the to-date figure
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The government announced another financial support package of €120 mln, given to businesses, self-employed and the unemployed affected by restrictions in March and the lockdown in April. Financial support concerns one-off payments to businesses and self-employed whose applications for inclusion in the March schemes were approved. Finance Minister Constantinos Petrides said the cash would be
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Cyprus Interior Ministry said Wednesday it would study the findings of a damning inquiry into the passports for cash investment scheme ignominiously scrapped on 1 November. The interim findings of the probe revealed irregularities and unlawful practices, putting the spotlight on shortcomings of the Finance and Interior Ministries. The 515-page dossier, prepared by a four-member
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Economic sentiment significantly improved in April, increasing by 9.2 points since March as confidence grew in the services sector before Lockdown III, according to a University of Cyprus index (ESI-CypERC). The index now stands at 96.5 from 87.3 in March. Still, it is up 16 points from a year ago when in April 2020 (the
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Cyprus’ COVID-19 vaccination rollout will rely more on Pfizer jabs, with increased deliveries in the coming months, while those from AstraZeneca will decrease as Cypriots snub the vaccine. Deliveries of Johnson & Johnson and Moderna vaccines are significantly smaller than those of the other two vaccines. Meanwhile, the EU is leaning towards changing its initial
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APOEL FC, Cyprus’ most successful football club, is in financial difficulties after accumulating a debt of €19.7 mln with the future looking grim after not qualifying for European competition next season. According to the latest Financial results of the APOEL Football LTD, the club was in the red in 2020, as the year’s fiscal report
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A total of 88 UK firms have been granted temporary permission to provide investment services in Cyprus, under the Temporary Permissions Regime (TPR), the Securities and Exchange Commission said. The TPR, launched following Brexit, does not require a physical presence in Cyprus for UK firms when providing investment services (including investment activities) solely to professional
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By Han Tan, Market Analyst at FXTM Asian stocks and US equity futures are mixed as investors brace for imminent cross currents on Wednesday, including the latest FOMC policy outlook, US President Biden’s spending plans and more Big Tech earnings releases. Amid the slew of headline-grabbing events slated for Wednesday, markets are also contending with
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