TIMELINE-History of Japan’s intervention in currency markets
The Bank of Japan has intervened in foreign exchange markets multiple times over the years to influence the value of the yen.
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Great Sea Interconnector , ‘top priority’
Fact: Israel’s Energy Minister emphasized that connecting the electricity cable from Israel to Europe through Cyprus strengthens Israel’s position in the region and contributes to Israel’s energy independence.
Euro-dollar stabilises after ECB rate cut comments
The European Central Bank (ECB) is considering cutting interest rates in June, causing weakness for the Euro and depressing the EURUSD pair. ECB officials have expressed dovish views on rate cuts, while the Federal Reserve in the US seems more split on the issue. Bargain hunters may see dips in the EURUSD pair as a buying opportunity, and economists at ING expect the pair to stabilize around 1.0850.
Ministers commit to addressing CyBC labor dispute
Ministries of Labour, Finance, and Interior are willing to pay the salaries for March to CyBC employees by the coming Friday following a budget delay.
House speaker welcomes Estonian president
President of Estonia, Alar Karis, visited Cyprus and was received by the President of the House, Annita Demetriou. They discussed open issues and potential cooperation between Estonia and Cyprus. Karis thanked Demetriou for the hospitality and expressed a desire for continued contacts.
Presidents of Cyprus and Estonia discuss deepening partnership
The Presidents of Cyprus and Estonia noted the similarities between their countries and agreed to deepen cooperation in areas such as investments, cybersecurity, and shipping. They expressed strong support for the reunification of Cyprus based on a bicommunal and bizonal federation. Estonia also appreciated Cyprus’s efforts to provide humanitarian assistance to Gaza and supported Cyprus as a frontline member state facing migration challenges. The two countries discussed enhancing bilateral relations in various fields, including cybersecurity, digitalization, maritime, and tourism. They also emphasized the importance of continuing solidarity towards Ukraine.
Kane to return to Spurs in pre-season friendly v Bayern
Harry Kane, Tottenham Hotspur’s record goalscorer, will return to north London when his former team hosts Bayern Munich in a pre-season friendly on Aug. 10.
Government determined to pull plug on fuel subsidies
The Cyprus government is ending an 8 cent subsidy on fuels after it expires on March 31, resulting in an initial increase of 7 to 8.3 cents a litre for motor petrol and diesel, along with a 6.3c hike on heating oil. The government also plans to introduce a green tax on fuel, which has been delayed until after the summer holidays. The impact of the green taxation on businesses and households is expected to be small, with compensatory measures provided to vulnerable population groups.
House to vote on criminalising falsely accusing the police
Parliament is set to vote on a bill that will explicitly criminalize falsely accusing police officers of crimes or conduct violations.
Defence minister visits French frigate
Fact: Defence minister Vassilis Palmas and French ambassador Salina Grenet-Catalano met to discuss bilateral cooperations between France and Cyprus. During the meeting, Palmas was invited to the French frigate Courbet in Larnaca.