euro

Overcrowded Venice begins charging day-trippers for access

by
Overcrowded Venice begins charging day-trippers for access

Venice has implemented a 5-euro entry fee for tourists on certain days to reduce overcrowding. The fee must be paid online or at a booth, and fines will be issued for non-compliance. Some visitors feel the charge is unfair, but the city aims to strike a balance between residents and day trippers. The initiative is part of a larger effort to manage tourist flows in Venice, which received 20 million visitors last year. Residents, students, workers, and children under 14 are exempt from the fee. Other measures include banning large cruise ships and limiting tourist group sizes.

€300 mln Bank of Cyprus green bonds oversubscribed

by
€300 mln Bank of Cyprus green bonds oversubscribed

Bank of Cyprus issued its first green bond, raising €300 million to fund renewable energy projects, climate-friendly buildings, and transport. The bond was more than four times oversubscribed, with the orderbook reaching €1.3 billion.

Bank of Cyprus issues , €300 million green bond — 120 institutional investors express interest

by
Bank of Cyprus issues , €300 million green bond — 120 institutional investors express interest

The Bank of Cyprus successfully launched and priced €300 million in green senior preferred notes under its EMTN Programme. The notes were priced at par with a fixed coupon of 5% per annum, payable annually until the Optional Redemption Date of May 2, 2028. The notes are expected to comply with the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) criteria, improving the bank’s MREL ratio to 28.36% of risk-weighted assets and 12.73% of Leverage Ratio Exposure.

Euro, Sterling under pressure after mixed Eurozone, UK PMI

by
Euro, Sterling under pressure after mixed Eurozone, UK PMI

The EURGBP cross traded lower around 0.8620 on Tuesday following mixed PMI figures from the UK and Eurozone.

Growth rate slows in March , – CCLEI survey

by
Growth rate slows in March , – CCLEI survey

The Cyprus Composite Leading Economic Index (CCLEI) saw a year-over-year decrease of 0.9% in March, indicating a slowing economy on the island.

Yen trades higher on risk-on sentiment, despite dovish ECB

by
Yen trades higher on risk-on sentiment, despite dovish ECB

The Japanese yen traded stronger against the euro at 164.90 on Monday. Bank of Japan Governor Kazuo Ueda made dovish remarks about the need to maintain accommodative monetary policies due to low inflation.

‘Specific plan’ for positive developments on Cyprus problem

by
‘Specific plan’ for positive developments on Cyprus problem

Fact: President Nikos Christodoulides mentioned that the Greek Cypriot side has a specific plan for creating positive conditions for a Cyprus solution and hopes this effort will result in a resumption of talks.

Solving the affordable housing crisis in Cyprus

by
Solving the affordable housing crisis in Cyprus

Fact: The European Investment Bank (EIB) has identified land use regulation as the most important determinant of housing supply with an adverse effect on housing affordability.

May’s crucial appointments to determine Cyprus problem – Euro-Turkish affairs

by
May’s crucial appointments to determine Cyprus problem – Euro-Turkish affairs

The European Council conclusions provide an opportunity for Turkey to make gestures on the Cyprus issue, which will have an effect on Euro-Turkish relations. The upcoming visits of various leaders to Turkey are seen as opportunities to convey messages regarding both the Euro-Turkish and Cyprus issues. Ankara is expected to comply with some obligations, including those related to Cyprus, despite wanting the Borel report to be adopted without conditions. The Republic of Cyprus and the European Union have sent a positive message to Turkey about potential progress on issues of mutual interest, as long as progress is made on the Cyprus problem.

Shop owner found with duty-free tobacco products

by
Shop owner found with duty-free tobacco products

A 49-year-old shop owner in Paphos was fined four thousand euros for possessing and selling duty-free tobacco products. Police discovered the illegal products during an investigation in three establishments in Paphos aimed at combating the possession of firecrackers and duty-free tobacco. In the shop of the woman, police found 36 cartons of cigarettes, 200 grams of tobacco, and six cartons of electric combustion cigarettes without the required duty paid. The shop manager was issued a four thousand euro out-of-court notice by customs.