Breaking news

Cyprus’ Financing Programme On Track Amidst Economic Optimism

by THEFUTURE.TEAM

July 22, 2024

Cyprus is advancing its annual financing programme efficiently, aligning closely with its fiscal targets for 2024. The approved borrowing ceiling stands at €1.3 billion, predominantly sourced from European Medium-Term Notes (EMTN). So far, Cyprus has successfully raised nearly €1.2 billion, including a recent €1 billion, seven-year fixed-rate bond issued in June.

The financing strategy also includes public treasury bills and domestic bonds aimed at individual investors. To date, €87.5 million of the targeted €120 million in treasury bills and €6.4 million of the intended €40 million in domestic bonds have been issued. Furthermore, Cyprus has secured €92.75 million in loans from supranational organisations, progressing towards the €140 million goal.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Public treasury bills, set to mature in October 2024, offer an annualised yield between 3.65% and 3.75%, presenting an attractive option for non-professional investors and businesses seeking secure liquidity management.

Sophic, a financial platform, plans to acquire a portion of the upcoming treasury bill issuance, replicating its strategy from June where it, alongside Athlos Capital, acquired over 80% of the €21.5 million issuance for client allocation.

Cyprus’ prudent financial management and structured approach towards funding reflect a robust fiscal framework aimed at maintaining economic stability and fostering investor confidence. This meticulous execution of the financing programme underscores Cyprus’ commitment to strategic fiscal governance and economic resilience, which are vital for sustaining long-term growth.

The ongoing success of Cyprus’ financing programme highlights the nation’s proactive fiscal planning and the effectiveness of its public debt management office. By securing diverse funding sources and maintaining investor engagement, Cyprus continues to bolster its financial stability and economic prospects.

As Cyprus progresses with its financing activities, the focus remains on sustaining fiscal discipline while leveraging favourable market conditions to optimise funding costs. This approach not only ensures the fulfilment of immediate financing needs but also lays a solid foundation for future economic resilience.

Tesla’s Market Rollercoaster: Examining The 91% Surge Wipeout

by News Editor

March 11, 2025

In a surprising move, Tesla stock prices have dropped below their values recorded prior to the November elections that saw Donald Trump rise to victory. This has led to a dramatic 91% growth revocation, positioning Tesla as a strong indicator of the current financial market’s steep decline.

Key Figures And Market Reaction

Shares plunged by over 15%, landing at $222—their lowest close since October 23, two weeks ahead of the election.
This marks Tesla’s largest percentage drop since September 2020, with Monday being its seventh worst trading day in 15 years, according to FactSet.
Broader economic concerns regarding Trump’s policies fueled losses, as the tech-heavy Nasdaq Composite entered a correction territory with a 4% decline.
UBS analysis puts further pressure predicting a 5% decline in Tesla’s vehicle deliveries for 2025—contrasting a market forecasted 12% rise.
Tesla’s shares linger 53% beneath their December peak, a time when anticipation for Trump’s supportive policies had buoyed prices.

The Financial Implications

Elon Musk, Tesla’s top shareholder, has witnessed his net worth plummet by $145 billion since reaching $464 billion in December. Nevertheless, Musk’s wealth still surpasses that of any other individual globally by approximately $110 billion, despite the $23 billion loss he endured on Monday due to falling Tesla shares.

Root Causes And Market Influence

Tesla’s market capitalization saw a dramatic decrease of nearly $800 billion from its December pinnacle as its shares slipped 12% post-election day. Musk’s contribution of $288 million to Trump’s campaign efforts is notable as he assumes his role within the government-created department, aiming to streamline expenses and cut governmental staff.

Trade tariffs, positioned by Trump, nearly cripple Tesla as it relies heavily on its second-largest market, China, and parts from Canada, China, and Mexico. This, along with noticeably declining sales early in 2025 across Europe and China, creates a dim sentiment around Tesla, noted by analysts who criticize Musk’s public political stances as damaging to Tesla’s image.