Sapienta Cyprus Selection, 26 Nov 2022
Regular Cyprus-relevant links
A regular selection of links to articles of medium- to long-term relevance to people living and doing business in Cyprus. Topics marked with * will be analyzed in our next monthly issue of Sapienta Country Analysis Cyprus.
Energy/Defence. There were reports over the summer that Cyprus would be buying “Iron Dome” defence capabilities from Israel. This week Israel tested its naval version of the Iron Dome that aims to protect offshore gas installations. Article from Globes: https://en.globes.co.il/en/article-israel-completes-testing-naval-iron-dome-1001430385.
Turkey. While Turkey’s relations with regional neighbours soured, the Republic of Cyprus forged stronger alliances with countries like Egypt, Israel and the United Arab Emirates. But Turkey’s regional relations are beginning to change. Article from Reuters: https://www.reuters.com/world/middle-east/turkeys-erdogan-shakes-hands-with-egypts-sisi-world-cup-2022-11-20/.
Interest rates. If you are worried about the rising costs of a big loan or mortgage, the beginning of the end of interest rate rises might just be in sight. Article from Yahoo finance: https://finance.yahoo.com/news/dollar-weakens-fed-minutes-euro-030621333.html.
“Peacebuilder banking”. Placeholder for a longer article by me. Republic of Cyprus not-for-profit organizations involved trying to unite the island are finding it very difficult to open or keep open bank accounts. Is it discrimination or are they collateral damage from the ongoing moneylaundering scrutiny? Latest Moneyval report on Cyprus’ efforts to tackle moneylaundering and terrorist financing: https://rm.coe.int/moneyval-2022-17-fur-cy/1680a92582.
Crypto explainer 2.0. The other week I linked an article from Reuters on the crypto crash. This week I am linking an older article explaining how the crypto sector worked its way into the Washington lobbies. Article from the Revolving Door Project: Revolving Door Project | Tracking Crypto’s Revolving Door | Revolving Door Project (therevolvingdoorproject.org).