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Date: 16.12.2019
Cyprus Economy
Cyprus Economy
President expresses full appreciation for the EUCO conclusions

Day: 13/12/2019 07:44

President of the Republic of Cyprus Nikos Anastasiades expressed his full appreciation for the European Council (EUCO) conclusions on Turkey. More specifically, in a post he made earlier this morning on Twitter, after the text was formalized, the President state the following:"I express my...

Parliament voted state budget for 2020

Day: 12/12/2019 07:57

The House of Representatives plenary voted the state budget for 2020 on Wednesday evening with 29 votes in favour and 23 against. MPs also voted a series of amendments placing restrictions on certain provisions of the budget, which means the government will have to get the approval of the...

European Council: Turkey - Libya MoU does not comply with the Law of the Sea

Day: 13/12/2019 13:07

The European Council adopted Conclusions on Turkey during the leaders` dinner held last night in Brussels.According to the text adopted: "the European Council recalls its previous conclusions on Turkey of 22 March and 20 June". "It reconfirms its conclusions of 17-18 October...

FinMin: Budget approval allows the state to continue on the path of economic stability

Day: 12/12/2019 07:58

Cyprus new Finance Minister Constantinos Petrides welcomed the parliamentary approval of the 2020 state budget, stating that the budget allows the government to continue on the path of economic stability, growth and the shielding of the economy. “In a spirit of prudence, creative...

Maldives will continue to support Cyprus' independence and sovereignty

Day: 12/12/2019 07:59

Maldives` President Ibrahim Mohamed Solih reconfirmed that his country will continue to support Cyprus` independence, sovereignty and territorial integrity.Solih was speaking recently during a private meeting he had with Cyprus` new Ambassador to the Maldives, based on New Delhi, Agis Loizou after...

US Congress to lift arms embargo on Cyprus

Day: 11/12/2019 13:09

The United States Congress is expected to approve by Thursday the lifting of the embargo concerning the sale of US arms in the territory of the Republic of Cyprus, which is in place since 1987. The embargo will be lifted once Congress passes the National Defense Authorization Act for 2020. ...

President departs for Brussels to attend the EU Summit

Day: 11/12/2019 07:18

Cyprus President, Nicos Anastasiades, departs on Wednesday for Brussels to attend the EU Sumitt to be held on December 12 and 13. According to a press release issued by the Presidency, the EU leaders will discuss issues such as the 2021 – 2027 Multiannual Financial Framework and Climate...

Cyprus, France and Italy conduct tripartite marine exercise

Day: 11/12/2019 11:16

The Republic of Cyprus, France and Italy will conduct on Thursday a tripartite maritime cooperation exercise, called “CYP/FRA/IT 2019” in the exclusive economic zone (EEZ) of Cyprus.According to an announcement by the Defence Ministry, the three countries will conduct the “PASSEX...

IMF: Low productivity & high private debt are challenges for economy

Day: 10/12/2019 12:06

Low productivity and high private debt, as external risks increase, are the main challenges for Cypriot economy, as described in a report by the International Monetary Fund (IMF) Executive Board, following the conclusion of the consultation of the Article IV with Cyprus.The IMF Executive Board...

Assets under management of Collective Investments at €7.7b

Day: 10/12/2019 13:10

Management Companies and Undertakings of Collective Investments (UCIs) recorded a further increase in the third quarter of 2019, according to the quarterly bulletin issued by the Cyprus Securities and Exchange Commission (CySEC). The bulletin, which is already posted on CySEC’s website,...

European Economy
European Economy
Boris Johnson secures crushing UK election victory

Day: 13/12/2019 07:08

Boris Johnson’s Brexit election gamble paid off spectacularly on Friday as the Conservative party secured a crushing victory, cutting a swath through Labour’s provincial heartlands.

Tory hopes of decisive majority in doubt as voters head to polls

Day: 12/12/2019 06:27

Boris Johnson has vowed to end Britain’s Brexit trauma if he wins Thursday’s momentous general election, but his campaign has flagged in its final stages and opinion polls suggest his hopes of securing a decisive parliamentary majority are on a knife edge.

HSBC Swiss unit to pay $192 million in latest U.S. tax evasion deal

Day: 11/12/2019 06:22

The Swiss private banking unit of HSBC Holdings Plc will pay $192.4 million to resolve a U.S. probe of its role in helping wealthy Americans evade taxes by using undeclared Swiss bank accounts, the U.S. Department of Justice said on Tuesday.

Deutsche to cut €100m from domestic retail banking unit

Day: 10/12/2019 06:57

Deutsche Bank plans to cut about €100m in annual costs by streamlining its corporate structure in German retail banking, as chief executive Christian Sewing prepares to face investors on Tuesday.

Brexit versus public services: Rival British leaders make final campaign push

Day: 09/12/2019 12:10

Prime Minister Boris Johnson will travel to the heartlands of Brexit Britain in a final campaign blitz ahead of Thursday’s election, as he seeks to secure the parliamentary majority he needs to take the country out of the European Union.

Phoenix to buy Swiss Re's ReAssure unit for $4.1 billion

Day: 06/12/2019 08:15

Insurance group Phoenix Group Holdings (PHNX.L) said it had agreed to buy the British unit of Swiss Re AG (SRENH.S) for 3.2 billion pounds ($4.1 billion) in cash and shares, its biggest deal to date.

Fiat Chrysler disagrees with Italy tax agency on underestimating U.S. business

Day: 05/12/2019 08:56

Fiat Chrysler Automobiles (FCHA.MI) said on Thursday it strongly disagreed with a tax authority claim that it had underestimated the value of its U.S. business following its acquisition of Chrysler.

'Cool it,' France and Germany to tell Trump at NATO talks

Day: 04/12/2019 09:26

In formal talks following a Buckingham Palace reception on Tuesday to celebrate 70 years of NATO, European leaders led by Germany and France aim to tell Trump they will not be treated as junior partners as they confront global conflicts.

France and EU ready to fight back over U.S. tariff threat, ministers say

Day: 03/12/2019 09:03

France and the European Union are ready to fight back over the latest U.S. tariff threats on French products, French government ministers said on Tuesday.

Turkish economy returns to growth in third quarter, expanding 0.9% year-on-year

Day: 02/12/2019 07:56

urkey's economy grew 0.9% year-on-year tmsnrt.rs/2P6vV18 in the third quarter, in line with expectations, breaking three consecutive quarters of contraction as it shook off the effects of recession following last year's currency crisis.

Greek Economy
Greek Economy
Some Greeks Abroad Finally Get the Vote

Day: 13/12/2019 07:12

After a long debate, Greece’s Parliament, with all rival parties except one in support, passed a bill giving a vote in national elections to the Diaspora, but with severe restrictions limiting how many will be eligible.

Terrorist Assassin Koufodinas Seventh Furlough Turned Down

Day: 11/12/2019 10:54

Convicted terrorist Dimitris Koufodinas’ request for a seventh vacation from jail – he got six under the former ruling Radical Left SYRIZA – was rejected by a disciplinary council in Cassaveteia Prison, in central Greece, the state-run Athens-Macedonia News Agency said.

Greek economy rise weighed down by bank bad loans

Day: 09/12/2019 12:11

While investors are anticipating big gains on the Greek stock exchange, expressing confidence after New Democracy leader Kyriakos Mitsotakis ousted the anti-business Radical Left SYRIZA, a recovery is being impeded by bad loans held by big banks.

Mitsotakis Αccepts Resignation of Deputy FM Diamataris

Day: 06/12/2019 08:17

Prime Minister Kyriakos Mitsotakis on Thursday accepted the resignation of Deputy Foreign Minister responsible for Diaspora Greeks Antonis Diamataris.

Mitsotakis: Difficulties in Greek-Turkish Relations Can Be Overcome by Goodwill

Day: 05/12/2019 09:01

Relations with Turkey may present difficulties, but Greece and Turkey can overcome their differences as long as they show goodwill, Greek Prime Minister Kyriakos Mitsotakis said following a meeting with Turkish President Recep Tayyip Erdogan on Wednesday.

Hellenikon Casino License Delayed, US Bidders Warn Legal Action

Day: 04/12/2019 09:28

With a snafu said tied to paperwork setting back the awarding of a casino license critical to the 8-billion-euro ($8.86 billion) development of the abandoned Hellenikon International Airport, the only two bidders, American companies,  said they would sue if shut out because of that.

Mitsotakis to Meet Erdogan on Wednesday in London

Day: 03/12/2019 09:06

Prime Minister Kyriakos Mitsotakis will meet with Turkish President Recep Tayyip Erdogan on Wednesday on the sidelines of the NATO summit in London.

Mitsotakis to Meet Erdogan on Wednesday in London

Day: 03/12/2019 09:05

Prime Minister Kyriakos Mitsotakis will meet with Turkish President Recep Tayyip Erdogan on Wednesday on the sidelines of the NATO summit in London.

Mitsotakis: Greece will Ask NATO to Condemn Turkey over Its Illegal Actions in the Region

Day: 02/12/2019 10:00

Greece will not tolerate any Turkish provocation without responding, Prime Minister and New Democracy (ND) party leader Kyriakos Mitsotakis said on Sunday at closing remarks of the party’s 13th congress, adding that he will ask NATO to condemn Turkey at the leaders’ meeting on December...

UN Refugee Chief on Refugee Rips Greece Over Detention, Asylum

Day: 29/11/2019 14:38

UN High Commissioner for Refugees Filippo Grandi, before meeting Prime Minister Kyriakois Mitsotakis, aid the New Democracy...

World Economy
World Economy
U.S. sets terms for China trade deal, sources say, but Beijing mum

Day: 13/12/2019 07:10

Washington has set its terms for a trade deal with China, offering to suspend some tariffs on Chinese goods and cut others in exchange for Beijing buying more American farm goods, U.S. sources said on Thursday.

U.S. lawmakers begin debating impeachment articles against Trump

Day: 12/12/2019 06:29

Democrats in the U.S. House of Representatives moved closer on Wednesday to impeaching President Donald Trump as a key House committee began debating formal articles of impeachment that are expected to be brought to the House floor next week.

Saudi Arabia renews push for $2tn Aramco valuation

Day: 11/12/2019 06:19

Saudi Arabia is making a last-ditch attempt to persuade its institutions and wealthiest families to buy shares in Saudi Aramco after it floats on Wednesday as Crown Prince Mohammed bin Salman refuses to give up on his long-coveted $2tn valuation.

China auto sales drop for 17th straight month in November

Day: 10/12/2019 06:59

Auto sales in China fell for a 17th consecutive month in November, with the number of new energy vehicles (NEVs) sold contracting for a fifth month in a row, data from the country’s biggest auto industry association showed on Tuesday.

Goldman plans to bring wealth management to the masses

Day: 09/12/2019 12:09

Goldman Sachs will offer digital wealth management services to individuals with as little as $5,000 from next year, bringing the Wall Street investment bank a step closer to Main Street under the watch of new chief executive David Solomon. 

Opec and allies stumble towards deeper cuts

Day: 06/12/2019 08:06

Talks between oil producers for deeper cuts to production ran late into the night on Thursday as Opec officials took longer than anticipated to come to an agreement.

Shinzo Abe launches $121bn stimulus package for Japan

Day: 05/12/2019 08:48

Prime minister Shinzo Abe has launched Japan’s first fiscal stimulus since 2016 with a larger-than-expected ¥13.2tn ($121bn) package to repair typhoon damage, upgrade infrastructure and invest in new technologies.

House impeachment report concludes Trump abused his office

Day: 04/12/2019 09:21

House Democrats accused Donald Trump of abusing his office for political gain and trying to obstruct the Ukrainegate investigation, in a highly anticipated report that paves the way for articles of impeachment and a trial in the Senate.

US proposes 100% tariffs on French goods over digital tax

Day: 03/12/2019 08:59

The Trump administration on Monday proposed the imposition of 100 per cent tariffs on up to $2.4bn of French goods, including champagne, after concluding that the country’s digital services tax unfairly discriminated against American technology companies.

Goldman to avoid setting strict financial targets at investor day

Day: 02/12/2019 07:54

Goldman Sachs will avoid setting strict profitability targets at its upcoming investor day, according to people familiar with the plans, leaving executives with more room to manoeuvre in an economic downturn but risking disappointment among shareholders.