Erdogan attacks interest rate hikes; lira drops
President Recep Tayyip Erdoğan on Friday said that he was against raising interest rates, and that rates should be cut to slow inflation.
Erdoğan said he was against ...
Covid-19 vaccination records should be on smartphones, say Microsoft, Cigna
Microsoft Corp, health insurer Cigna Corp and the Mayo Clinic are part of a coalition pushing for digital records of people who get vaccinated against Covid-19.
A key aim of ...
Airbnb CEO says travel will never be the same
Airbnb Chief Executive Officer Brian Chesky on Thursday predicted travel would permanently change due to the pandemic with people seeking out thousands of smaller cities and spending more time visiting ...
Biden’s $1.9tn stimulus expected to drive job creation
US President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed ...
DarkNet market closed down in international police raid
DarkMarket, the world’s largest illegal sales point for drugs and other illegal merchandise on the dark web, has been taken offline in an international operation involving Germany, Australia, Denmark, ...
Covid-19 treatment Synairgen shows promise, may keep patients off ventilators
Synairgen, a treatment that reduces hospital time for Covid-19 patients, is showing promise in Phase III trials which started up on Tuesday.
The Southampton-headquartered company Synairgen is engaged in a 610...
UK traders find ways around Brexit
As there was almost nothing in the Brexit agreement on rules for UK financial services firms to operate in the European Union, UK traders are effectively cut off from operating ...
Wizz Air raises €500 million in bond sale; fast recovery expected
Wizz Air sold €500 million in three-year bonds at an interest rate of just 1.35 per cent on Wednesday.
The sale was oversubscribed with more than €2 billion in orders from investors. Wizz ...
Do jabs equal jobs? Fed thinks vaccine can get US economy moving
One U.S. Federal Reserve official says there is now a “clearer focus” about the economy’s path forward and a horizon for a fuller recovery. Another says the pandemic’...
Jet2 suspends flights until March at the earliest
Jet2 on Tuesday announced in a statement that all flights and holidays would be suspended until March 25 of this year.
“Due to the ongoing uncertainty and travel restrictions caused by ...
BOE closer to negative rates as UK economy worsens, pound falls
Negative interest rates could provide significant stimulus, a Bank of England official said on Monday; a move to negative rates is now expected by early February.
UK Chancellor of the ...
Cyprus economy is in a whipsaw — Economist
Conditions in the Cyprus economy inched a bit higher in December, according to the Cyprus Composite Leading Economic Index which is designed to provide early-warning signals of economic changes. But ...
Cyprus faces danger of ‘fiscal deterioration’ — Moody’s
Credit rating agency Moody’s on Monday warned that Cyprus faces the danger of ‘fiscal deterioration in a note released on Monday.
In a scenario where the recovery stalls or ...
Bahrain to open airspace to Qatar from Monday
Bahrain will open its airspace to Qatar as of January 11, the country’s civil aviation affairs authority said on Sunday, following a US-backed deal by Arab states last week to ...
Saudi Crown Prince launches zero-car, zero-carbon city
Saudi Arabia’s crown prince unveiled plans on Sunday to build a zero-car. zero-carbon city at NEOM, the first major construction project for the $500 billion flagship business zone aimed at ...
What level of debt is acceptable for your family?
As lockdown looms again, this is a time when many households are taking on more debt. Some cannot work during lockdown, others are simply working less and unable to earn ...
London banks face ‘weaponisation’ of EU access; ING, BNP Paribas move trading out
Britain’s future access to European Union financial markets must face the challenge of the “weaponisation” of equivalence (meaning access to EU markets), a UK banking official said. “Are you ...
Why bitcoin, now at $40,000, could reach $100,000 — analysts
The recent bitcoin rally has moved it back into the limelight once again. But there is far less heard about how it’s “unstable,” or “really has no value.”
On ...
Major advance in technology for self-driving cars from Sense Photonics
Sense Photonics has developed new detection technology that hits a key milestone required for self-driving cars, the laser sensor company said on Friday.
The company led by automotive industry veteran ...
Facebook and Twitter crackdown on Trump is too little, too late
By the time social media companies took action against users and groups spurring on the siege of Capitol Hill this week, culminating in the suspension of US President Donald Trump’...
Brexit can hit Cyprus food exporters to UK
Food producers in the EU and Europe have expressed alarm about the effect of certain terms in the Brexit deal reached at the end of last year.
Sainsbury’s has ...
EU may ask too high a price for financial services trade, BoE warns
Britain should not submit to the European Union’s financial services rules just to get better access to the bloc’s market after Brexit, Bank of England Governor Andrew Bailey ...
Cyprus recovery is in wait-and-see mode – Economist
“Cypriots are holding on to savings, collecting what they can thanks to the moratorium on loan payments through March, and waiting to see whether the vaccines will finally enable us ...
China International Import Expo brings Cyprus to China
An interview with LI Yaohui, Economic and Commercial counselor at the embassy of the People’s Republic of China in Cyprus, about the world’s first import-themed exhibition, which brings ...