FRIDAY, 23 AUG 2019

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2019_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Savvas Perdios: News in September Over Flights to Cyprus and German Market

Prodromou: OCCRP Report Acknowledges that Cyprus President did not Break the Law

IMH LTD
GAP_Group_2019_468x60px

INTERNATIONAL

brought to you by CIPA

Pound Hits Two-Year Low as City Fears of No-Deal Brexit Intensify

Pound Hits Two-Year Low as City Fears of No-Deal Brexit Intensify

Sterling falls by a cent against dollar after Tory leadership candidates’ backstop remarks, The Guardian reports.

The pound has fallen to its lowest level in more than two years after pledges by both Boris Johnson and Jeremy Hunt to ditch a key part of the UK-EU withdrawal agreement intensified City fears over a no-deal Brexit.

Sterling fell by a cent against the US dollar after a Sun and Talkradio debate in which both the contenders to replace Theresa May in Downing Street said they would not accept a Northern Ireland backstop in its current form.

With Brussels insisting that an agreement to maintain a seamless border between Northern Ireland and the the Irish Republic is non-negotiable, investors at one point drove the pound below $1.24 – a level last seen in the spring of 2017. It later edged back above $1.24. The pound also hit a six-month low of €1.1063 against the euro.

The pound’s losses against the US currency intensified after a Sky News report that Johnson was considering sending MPs home during the days leading up to the Brexit deadline day of 31 October.

A weaker pound makes exports cheaper but pushes up inflation by making imports dearer. John McDonnell, the shadow chancellor, said: “The instability and uncertainty caused by the Conservative party leadership contest has real-world consequences.”

MORE ON INTERNATIONAL

Johnson and Macron to Hold ‘Frank’ Brexit Talks in Paris

French observers fear Britain’s PM is setting up France to take blame over no-deal ...

Apple Accidentally Reopens Security Flaw in Latest iOS Version

Apple users are being warned to exercise particular caution over their cybersecurity for ...

Trump: Administration is Considering Payroll Tax Cut

Trump said on Tuesday, August 20 that he's thinking about pushing for a payroll tax ...

FROM AROUND GOLDNEWS

   

Celebrating 20 Years of the Porsche 911 GT3

The unveiling of the first Porsche 911 GT3 in March 1999 at the Geneva Motor Show signalled the start of a new era for discerning sports car drivers. Like ...
   

EU Migration to UK at Lowest Level Since 2013, Disputed Data Shows

Immigration to the UK from the EU remains at its lowest level since 2013, according to disputed estimates from the Office for National Statistics, The Guardian ...
   

Nicosia Mall Deal for €96 Million

The Bank of Cyprus, after monthly negotiations, has reached an agreement to sell its 64 % share in the Nicosia Mall. The agreement between the Bank and the ...
   

Spar Cyprus Adds Two New Stores to Its Network

Spar Cyprus has announced that it has converted two former Debenhams Food Hall outlets in Nicosia and Limassol to Spar supermarkets, the European Supermarket ...
   

Ryanair Fails in Court Attempt to Stop 48-Hour Strike by UK Pilots

Ryanair has failed in a legal effort to prevent a 48-hour strike by British pilots in the run-up to the bank holiday weekend, but claimed passengers were ...
   

Johnson and Macron to Hold ‘Frank’ Brexit Talks in Paris

French observers fear Britain’s PM is setting up France to take blame over no-deal departure, The Guardian reports. Emmanuel Macron will hold a ...
   

Cabinet Decides to Set Up Investment Fund, ‘Estia” Scheme to Start Operating on September 2

The Cabinet decided on Wednesday to set up an Investment Fund, following a relevant proposal made by the Finance Minister, with the state contributing to the ...
   

Prodromou: OCCRP Report Acknowledges that Cyprus President did not Break the Law

The report of OCCRP (Organized Crime and Corruption Reporting Project) acknowledges from the beginning that the President of Cyprus Nicos Anastasiades has no ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Taxatelier_09/08/-06/09_300X250px
Gold_Digital_Edition_300x250px

IMH LTD