Financial Mirror
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MiCA for cryptos by end of year, early-2025
Cyprus plans to implement the Markets in Crypto-Assets (MiCA) regulation by the end of this year or early 2025, aimed at protecting investors and promoting widespread...
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‘PV for all’ supporting China, not EU
Cracks are starting to show in the Cyprus government’s ‘photovoltaics for all’ scheme, aimed at encouraging households to install solar energy panels on their rooftops in order to meet the...
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President favours a single fiduciary regulator
For more than seven years, Cyprus’ reputation has been tainted by the Jho Low scandal, with the high profile Malaysian criminal successfully obtaining a Cypriot passport in exchange for...
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Magnificent Seven stocks ‘look cheap’
The Magnificent Seven tech stocks look cheap compared to other stocks within the S&P 500, affirms the CEO of one of the world’s largest independent financial advisory, asset management...
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Larnaca a prime hotspot for real estate investors
Cyprus based real estate platform INDEX.cy unveiled a report on Friday, singling out Larnaca as the prime destination for investors and homebuyers eyeing lucrative opportunities in the...
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Tourism to keep head up high in 2024
Junior ministry confident despite challenges ahead Cyprus’ tourism boss, Costas Koumis, is confident that the island will keep its head above war clouds in 2024, with arrivals expected...
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Another record year for Cablenet
2% increase in revenue, 52% increase in mobile subscription base For yet another year, Cablenet has achieved double-digit revenue growth. Specifically, in 2023, it reached €74.3...
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WTI steady at $80.60, below YTD peak
Crude oil prices for the benchmark West Texas Intermediate (WTI) are oscillating in a narrow range, just above the mid-$80.00s in Asian trading on Friday and remain well within striking...
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Green Monday feast to cost 4% more
Basic items for the Green Monday feast, when people in Cyprus start their fasting with greens, vegetables, salads and grilled molluscs, will cost about 4% more this year, according to a...
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Euro awaits US data, ECB speakers
The EURUSD exchange continued trading in the mid 1.0900s after pulling back from a peak at 1.0981 achieved last week. With data releases and events affecting both sides of the Euro-dollar...
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Despite highs, economic uncertainty declines slightly
The level of economic uncertainty in Cyprus fluctuated during the period from December 2023 to February 2024, with a temporary increase noted in January, according to a University of Cyprus...
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Gold poised to hit $2,250 Q2 target, say economists
Gold dipped 1.1% after the US inflation print came in higher than expected, with economists at TD Securities saying yellow metal may drift modestly lower toward the $2,025-2,100 range....
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Cyprus on alert after record migrant arrival
The Cyprus authorities are on high alert due to fears of a potential surge in migrant arrivals by sea from Lebanon and Syria, following the largest arrival recorded in recent years on...
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WTI moves in tight range, hovers around $77.80
The benchmark West Texas Intermediate (WTI) crude oil price hovered around $77.80 per barrel in Asian trading on Tuesday. Oil markets remain subdued, awaiting the release of the...
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Trade deficit narrows in January after plunge in imports
The January foreign trade deficit in Cyprus fell to a third of year-ago levels due mainly to a significant drop in imports, driven by a plunge in the transfer of ships and other vessels. At...
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EURGBP gains ground following UK jobless, German CPI
Euro-Sterling is holding positive ground below the mid-0.8500s during early European trading on Tuesday. The EURGBP cross is edging higher following the UK labour market and German...
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Gold rally could extend beyond recent highs
Gold has gained close to 19% since a recent low in October and almost 7% over the past month alone, with strategists at UBS saying there is potential for a pullback in the yellow metal in...
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EURUSD recovers after release of US NFP
The EUR/USD pair awoke from its slumber and shot up on Friday after the release of US Nonfarm payrolls showed an unforeseen fall in Average Hourly Earnings and rise in the Unemployment...
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A strategic EU role for the Cyprus problem
In the past few weeks I have argued that the traditional negotiations process in the Cyprus problem is flawed, and that the only way to get the leaders back to the table to find a...
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No fuel to run the economy
Although the latest statistics showed that inflation in Cyprus came in lower than expected, and below the Eurozone target average of 2%, that could justify a cut in interest rates, the...
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Sterling is on the move
By Naeem Aslam The British Pound is having its best moments against the US dollar and other major currencies in over seven months as investors and traders have adapted to a...
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Aid ship heads to Gaza
The maritime corridor providing humanitarian aid from Cyprus to the people of Gaza will probably be launched on Sunday, European Commission President Ursula von der Leyen said in Larnaca...
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Ukrainian laundering suspect to face trial on April 17
A Ukrainian woman, arrested last week after she tried to stage a theft of €420,000, prompting Cyprus police to uncover a money laundering ring, had been “criss-crossing” Europe, a law...
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Gender disparity remains in the workplace, says PwC study
Global progress on achieving gender parity at work continues at a sluggish rate, according to two studies published by PwC – the Women in Work Index and Inclusion Matters – to mark...
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Gold extends rally above $2,160 ahead of US NFP
The price of Gold extended its upside around $2,165 after reaching a record high during the early European session on Friday. A weaker US Dollar and a decline in US Treasury bond yields...