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Date: 09.07.2020
Cyprus Economy
Cyprus Economy
Car sales remain significantly below 2019 levels

Day: 09/07/2020 06:37

Vehicle sales in Cyprus continue their recovery in June following the slump during the two-month lockdown period to contain the spread of the coronavirus pandemic.According to data released by the Statistical Service of Cyprus, total vehicle sales in June amounted to 3,547, marking an increase of...

Eurostat: Absences from work at record high

Day: 09/07/2020 06:38

In the first quarter of 2020, 190.9 million persons in the EU were employed and the EU seasonally adjusted employment rate for people aged 20-64 stood at 73.3%, unchanged compared to the fourth quarter 2019 and up from 73.0% in the first quarter 2019, according to data released today by Eurostat,...

Cyprus to establish a Deputy Ministry of Culture

Day: 09/07/2020 06:39

The Cabinet decided to proceed with the establishment of a Deputy Ministry of Culture, Deputy Government Spokesman Panayiotis Sentonas said on Wednesday.“Following a suggestion by the President of the Republic, the Council of Ministers decided today to establish a Deputy Ministry of Culture...

Cabinet decides to introduce more frequent and strict checks for COVID-19

Day: 09/07/2020 06:41

The Cabinet decided to introduce more intensive, frequent and strict checks in relation to measures aiming to contain the COVID-19 pandemic, Deputy Government Spokesman Panayiotis Sentonas said on Wednesday.Speaking at the Presidential Palace, Sentonas said that the Council of Ministers discussed...

Construction works at Ayia Napa Marina continue intensively

Day: 09/07/2020 06:40

Construction works at Ayia Napa Marina continue intensively, in order to complete the project that started operating on June 1, 2020. Media representatives toured on Wednesday the site and company representatives informed them about the progress of works, which started late in September 2016, and...

Authorities announced three more coronavirus cases on Wednesday

Day: 09/07/2020 06:43

Cyprus authorities announced on Wednesday three more confirmed coronavirus cases out of 1,691 tests completed, with the total number of cases reaching 1,008.According to a press release issued by the Ministry of Health, a person was tested positive for COVID-19 out of 279 samples taken in the...

Cyprus raises €1 billion through reopening of bonds maturing in 2024 and 2040

Day: 08/07/2020 07:13

The Republic of Cyprus raised on Tuesday €1 billion in a double -European bond issue through the reopening of existing bonds maturing on 3 December 2024 and 21 January 2040, with the total demand exceeding ten times the minimum amount announced.The minimum amount announced is €250 million...

House prices up

Day: 08/07/2020 12:22

House prices, as measured by the House Price Index, rose by 5.0% in the euro area in the first quarter of 2020 compared with the same quarter of the previous year. This is the highest annual increase since the second quarter of 2007. In the EU house prices rose by 5.5% compared with the same...

Construction production drops in Q1 2020

Day: 08/07/2020 07:10

Cyprus construction production fell in the first quarter of 2020 on an annual basis while output prices in construction increased, data released by the Cyprus Statistical Service, on Tuesday, show.In particular, the index of production in construction during the first quarter of 2020, which...

Building permits record sharp drop in April

Day: 08/07/2020 07:11

Building permits issued in Cyprus recorded a sharp drop this April on an annual basis. Permits issued in the first four months of this year also decreased compared with the same period of last year, data released by the Cyprus Statistical Service.In particular according to CyStat, in April 2020,...

European Economy
European Economy
Credit Suisse aims for 100% of securities venture in China growth plan

Day: 08/07/2020 05:55

Credit Suisse (CSGN.S) wants to raise its China securities joint venture stake to 100% and increase its market share after getting the regulatory green light to take a majority holding, the head of its Asia business said.Πηγή: Reuters

Centeno calls for rethink of EU debt and deficit rules

Day: 07/07/2020 05:33

The outgoing president of the eurogroup has said Brussels should avoid “blindly” reapplying the EU’s debt and deficit limit rules after the Covid-19 crisis, warning that it could tip the bloc into a fresh recession.Πηγή: Financial Times

UK new car sales post smaller slump in June on annual basis

Day: 06/07/2020 05:06

British new car registrations fell by a third on an annual basis in June when many dealerships reopened after COVID-19 lockdown measures were lifted, according to preliminary data from an industry body, a smaller drop than in March, April and May.Πηγή: Reuters

UK Labour leader says coronavirus inquiry is inevitable

Day: 03/07/2020 06:09

Britain’s opposition Labour Party leader Keir Starmer said on Friday that an inquiry into Prime Minister Boris Johnson’s government’s handling of the coronavirus crisis was inevitable.Πηγή: Reuters

U.K. Economy Gears Up for ‘Super Saturday’ Boost to Recovery

Day: 02/07/2020 05:48

As the U.K. prepares to reopen pubs, restaurants and hotels on July 4, the government and businesses are counting on the economy getting a big boost on the path to recovery.Πηγή: Bloomberg

With Merkel at the Helm, Europe Faces a Crisis With Many Fronts

Day: 01/07/2020 06:31

For a leader who has steered Europe through two economic meltdowns, a migration crisis and a simmering showdown with Russia, Angela Merkel’s final act as German chancellor may be her biggest performance yet.Πηγή: Bloomberg

Commerzbank considers 7,000 more redundancies

Day: 30/06/2020 09:08

 Commerzbank’s (CBKG.DE) supervisory board was set to discuss the possibility of a further 7,000 redundancies, in addition to 4,000 job cuts up to 2023 announced last autumn, the business daily Boersenzeitung (BoeZ) said on Tuesday.Πηγή: Reuters

France municipal elections: Greens score gains in second round

Day: 29/06/2020 05:29

France's Green party and its left-wing allies have made significant gains in a second round of local elections.Πηγή: BBC

Coronavirus: 'Very significant' resurgences in Europe alarm WHO

Day: 26/06/2020 05:40

Europe has seen an increase in weekly cases of Covid-19 for the first time in months as restrictions are eased, the World Health Organization (WHO) says.Πηγή: BBC

Coronavirus: EU considers barring Americans from travel list

Day: 25/06/2020 05:51

EU ambassadors are to continue talks on Friday to plan reopening external borders on 1 July, and travellers from the US could be among those not allowed in.Πηγή: BBC

Greek Economy
Greek Economy
OECD Makes Bleak Forecasts for Greece's Unemployment

Day: 08/07/2020 06:00

The average unemployment rate in OECD member-states is expected to rise to at least 9.4 pct by the end of 2020, the highest level since the Great Depression of the 1930s, the Organization for Economic Cooperation and Development said in its Employment Outlook 2020 - Worker Security and the Covid-19...

Tourism Campaign "Destination Greece. Health First" Launches for Visitors from Abroad

Day: 07/07/2020 05:35

The Tourism Ministry and the Greek National Tourism Organization presented a new campaign, "Destination Greece. Health First" on Monday, promoting holidays in Greece.Πηγή: The National Herald

Tourism Minister Theoharis: Greece Has a Quality Tourism Product to Offer

Day: 06/07/2020 05:09

The opening of the country to tourists from abroad is based on a careful plan that will be adapted as needs emerge, Tourism Minister Harry Theoharis said on Friday, from Crete.Πηγή: The National Herald

Tourism Min.: Greece to Release Decision on British Tourists in July

Day: 03/07/2020 06:13

British tourists will be welcome in Greece this summer, and the dates they will be allowed entry to the country will be set by mid-July, Tourism Minister Harry Theocharis told Sky News Tonight.Πηγή: The National Herald

Staikouras: Greek Govt Will Continue Providing Liquidity to the Economy

Day: 02/07/2020 05:50

Greek Finance Minister Christos Staikouras on Wednesday said he expected some consequences from the large shrinking of tourism to be visible from September onwards in the country but stressed that the government will continue providing the economy with liquidity to deal with any problems arising....

Greek Tourism Min to Announce Agreement with TUI

Day: 01/07/2020 06:33

Tourism Μinister Haris Theocharis is expected to announce an agreement with the largest travel organizer in the world, TUI, in a press confrence later on Tuesday.Πηγή: The National Herald

BoG: Greek Economy to Contract between 4.4% and 9.4% in 2020

Day: 30/06/2020 09:16

he Greek economy is expected to contract by 4.4 pct to 9.4 pct this year, the Bank of Greece said in its Monetary Policy Report submitted to the Parliament on Monday.Πηγή: The National Herald

Greek Regional Airports Ready to Receive Flights from Abroad

Day: 29/06/2020 05:32

All 18 regional airports in Greece are ready to reopen for international flights and tourists from abroad, having taken all necessary measures and precautions to protect the health and safety of visitors, staff and permanent residents against the novel coronavirus when flights start to arrive next...

PM Mitsotakis: Export Sector Must Grow and Foreign Investments Doubled by 2023

Day: 26/06/2020 05:42

Every economic initiative in Greece from tax incentives, easier access to funding and the digitization of the state "are directly linked to issues in the exports sector," Prime Minister Kyriakos Mitsotakis said on Thursday, speaking at the 45th General Assembly of the Greek Exporters...

Staikouras on Microfunding Bill: Greek Govt Boosting Small Businesses

Day: 25/06/2020 05:52

 Finance Minister Christos Staikouras said that the government is working hard to overcome the problems generated by the coronavirus pandemic, while presenting the bill "Framework for microfunding and other provisions" in parliament's plenary on Wednesday.Πηγή: The National Herald

World Economy
World Economy
Coronavirus: Trump moves to pull US out of World Health Organization

Day: 08/07/2020 05:57

President Donald Trump has formally moved to withdraw the US from the World Health Organization (WHO).The president had made his intentions clear in late May, accusing the WHO of being under China's control in the wake of the coronavirus pandemic.Πηγή: BBC 

Fed's Bostic says U.S. recovery may be 'levelling off'

Day: 07/07/2020 05:32

Atlanta Federal Reserve Bank President Raphael Bostic said the U.S. economic recovery is in danger of stalling due to the recent spike in coronavirus cases across many American states.Πηγή: Reuters

Buffett’s Berkshire Ends Deal Drought With Dominion Bet

Day: 06/07/2020 05:07

Warren Buffett finally found his next crisis-era deal.His Berkshire Hathaway Inc., which has stayed relatively quiet during the tumult of the coronavirus pandemic, broke its silence at the end of a holiday weekend with its biggest acquisition in more than four years. Πηγή: Bloomberg

The Hong Kong crisis and the new world order

Day: 03/07/2020 06:12

With the UK opening its doors to three million Hong Kong residents and China threatening serious retaliation for what it sees as an intrusion into its domestic affairs, the Hong Kong crisis is becoming a real-time test of diplomacy in a pandemic-distracted world.Πηγή: BBC

Fed's Bullard warns of a financial crisis amid pandemic

Day: 02/07/2020 05:45

St. Louis Federal Reserve president James Bullard told the Financial Times that a wave of “substantial bankruptcies” triggered by the coronavirus pandemic could lead to a financial crisis.Πηγή: Reuters

U.S. coronavirus cases rise by 47,000, biggest one-day spike of pandemic

Day: 01/07/2020 06:28

New U.S. COVID-19 cases rose by more than 47,000 on Tuesday according to a Reuters tally, the biggest one-day spike since the start of the pandemic, as the government’s top infectious disease expert warned that number could soon double.Πηγή: Reuters

Hong Kong security law: China passes controversial legislation

Day: 30/06/2020 09:15

China has passed a controversial security law giving it new powers over Hong Kong, deepening fears for the city's freedoms, the BBC has learned.Πηγή: BBC

Nissan denies corporate conspiracy to oust ex-chairman Ghosn

Day: 29/06/2020 05:27

Nissan Motor Co Ltd (7201.T) on Monday blasted suggestions in media reports of a conspiracy within the company to oust former chairman Carlos Ghosn.Πηγή: Reuters

U.S. sets one-day record for COVID-19 cases, Texas pauses reopening

Day: 26/06/2020 05:38

The governor of Texas temporarily halted the state’s reopening on Thursday as COVID-19 infections and hospitalizations surged and the country set a new record for a one-day increase in cases.Πηγή: Reuters

SoftBank is not 'SoftPunku' says CEO in defence of strategy

Day: 25/06/2020 05:47

SoftBank Group Corp (9984.T) Chief Executive Masayoshi Son mounted a defence of his investing decisions on Thursday, saying the value of the Japanese conglomerate’s holdings has recovered to pre-coronavirus outbreak levels.Πηγή: Reuters