Economy

UK border force staff to strike at Heathrow in late May, early June

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UK border force staff to strike at Heathrow in late May, early June

Border Force staff at Heathrow Airport will go on strike on May 31, June 1 and 2, during the busy school holiday travel period, to protest changes in their working conditions. The PCS union announced that staff in terminals 2, 3, 4 and 5 will also refuse to work overtime for three weeks starting on June 4. Around 300 border force staff previously staged a four-day walkout in April and May. Heathrow Airport has contingency plans to avoid any impact on passenger journeys.

Dollar bounces back

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Dollar bounces back

The USDJPY pair extended its recovery to 156.00 in Friday’s European trading as the Dollar rebounded strongly after the Fed ruled out expectations of rate cuts, despite an expected decline in the US Consumer Price Index data for April.

A hidden factor impacting gold, and it ain, ’t CPI

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A hidden factor impacting gold, and it ain, ’t CPI

Gold prices are fluctuating as traders speculate on a potential rate cut by the Federal Reserve in September. Inflation data in the US is showing signs of improvement, impacting the Fed’s monetary policy decisions. Smart money is paying attention to the shift from a dollar-denominated trade system, with countries like China and Russia increasing their gold reserves to support their currencies. The price of gold is approaching all-time highs and is expected to continue its upward trend as long as it stays above the 50-day simple moving average.

Eurobank Group reports robust first quarter results

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Eurobank Group reports robust first quarter results

Eurobank Holdings released its financial results for the first quarter of 2024, showing significant growth and robust performance. Adjusted net profits in Cyprus and Bulgaria improved substantially, with Cyprus reaching €92 million.

House Speaker pledges support to Cypriot shipping industry

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House Speaker pledges support to Cypriot shipping industry

House Speaker Annita Demetriou met with a delegation from the Cyprus Shipowners’ Association to discuss problems and challenges facing the Cypriot shipping industry. Discussions included issues such as the policies of the European Union regarding pollutants, the future of shipping, and the necessity to bolster the Cypriot register. The meeting also explored the potential resolution of the Cyprus problem for the benefit of both communities.

Our View: Akel deputy, ’s probe is misguided and bizzare

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Our View: Akel deputy, ’s probe is misguided and bizzare

Akel deputy Christos Christofides has written to the auditor-general asking him to examine the data of the Independent Social Support Agency, which is under the authority of the president’s wife, Philippa Karsera. The agency had been set up in 2013 to provide financial support to university students who were unable to complete their studies due to lack of funds.

Bank of England to cut rates in August but June a very close call

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Bank of England to cut rates in August but June a very close call

The Bank of England is expected to start bringing down interest rates in August, with a majority of economists predicting a rate cut next month.

Here’s what the economy could look like with a Biden or Trump presidency

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Here's what the economy could look like with a Biden or Trump presidency

The text discusses the potential impact of a Biden or Trump presidency on the US economy. The analysis covers eight major economic categories, including domestic manufacturing, higher education, healthcare, housing, labor, taxes, tariffs, and trade. Biden and Trump have different plans and approaches to these economic categories based on their past records as president and their campaign promises. Biden focuses on issues like lowering prescription drug costs, investing in the future, supporting workers and small businesses, and ensuring fair taxation. Trump, on the other hand, has proposed plans such as protecting American car manufacturers, imposing tariffs on foreign-made cars, and focusing on fossil fuels. The text also highlights the differences in their views on student loan debt, healthcare, housing costs, labor unions, taxes, tariffs, and trade policies.

After soft U.S. CPI, is Fed rate cut wishful thinking?

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After soft U.S. CPI, is Fed rate cut wishful thinking?

Fact: Federal Reserve chair Jay Powell indicated that officials are in no rush to cut borrowing costs.

Bank of Cyprus Q1 profits stable at , €133 mln

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Bank of Cyprus Q1 profits stable at , €133 mln

Bank of Cyprus Holdings announced €133 million in first quarter profits, up 40% year-on-year but €5 million short of the previous quarter’s after-tax profits.