Business

German sportswear maker Puma’s (PUMG.DE) third-quarter sales missed expectations due to sluggish demand and as weaker currencies in markets like Mexico, Argentina and Japan weighed on its revenue ...

Swiss bank UBS (UBSG.S) announced that it has successfully piloted a blockchain-based payment system it has developed to improve the efficiency of cross-border transactions known as UBS Digital Cash. ...

New car registrations in the UK fell for the second time this year, dropping 6 per cent to 144,288 in October, according to a report based on industry data. The Society of ...

The UK’s financial regulator has laid out plans to ensure investors in bonds and derivatives markets have access to more information and that firms lower costs by making investment ...

Here are the top business stories in Cyprus from the week starting November 4: Cyprus and Egypt are set to deepen maritime collaboration through a joint commission established during Deputy Shipping ...

By Maria Demertzis The private sector can cover at least half of the investment gap identified in Mario Draghi’s competitiveness report but will only do so if the EU’...

Physical Intelligence, a startup that is developing foundational software for robots, has announced that it has raised $400 million in early-stage funding from Amazon’s Jeff Bezos, OpenAI, venture capital firms ...

South Korea has ordered Facebook owner Meta Platforms (META.O) to pay 21.62 billion won ($15.67 million) in fines after finding it had collected sensitive user data and given it to advertisers ...

Energy Minister George Papanastasiou on Saturday praised the signing of a maintenance, repair and overhaul offload agreement between GE Aerospace and the United Aerospace Maintenance Company (UAMCO) of Cyprus. He ...

Passenger traffic at Cyprus’ Larnaca and Paphos airports increased by 7.14 per cent in October 2024 compared to October 2023, according to the Transport Ministry. The ministry said this resulted in record traffic ...

A consortium of financial technology and cryptocurrency companies including Robinhood (HOOD.O), Kraken and Galaxy Digital (GLXY.TO) this week introduced a joint stablecoin pegged to the US dollar. The ...

Nintendo this week cut its operating profit forecast for the year to March 2025 by 10 per cent to 360 billion yen ($2.36 billion), as its ageing Switch console loses steam. The latest forecast ...

The US Supreme Court is set to consider bids by two tech giants – Meta’s (META.O) Facebook and Nvidia (NVDA.O) – to fend off federal securities fraud lawsuits in ...

American multinational oil and gas corporation ExxonMobil will next year begin drilling for natural gas under the sea off the coast of Cyprus, Energy Minister George Papanastasiou said on Friday. ...

The world’s biggest food and beverage companies on average sell products in low-income countries that are less healthy than what they sell in high-income countries, according to a new ...

British house prices hit a new record high in October but the 0.2 per cent rise from September was the smallest in three months and demand could remain subdued if interest ...

Central banks have engaged in notable amounts of gold purchasing in recent years. In 2022, their buying level reached its highest point since 1950, with banks ultimately obtaining 152% more gold than in 2021. ...

The Cyprus Securities and Exchange Commission (CySEC) on Friday issued a warning regarding a rise in fraudulent activity. The latest spate of incidents involves individuals posing as CySEC officers to ...

Compared to the global market’s growth from $2.33 trillion to $2.52 trillion within a week, Avalanche (AVAX) has seen only modest gains. As a result, investors are increasingly turning to contenders ...

The International Propeller Club of the United States has recognised Cyprus-based shipping companies for their participation in the US Coast Guard’s Automated Mutual-Assistance Vessel Rescue (AMVER) programme. The ceremony, ...

Better regulations and improved transparency are necessary for the development of the fixed-income market, according to Societe Generale’s Elina Asimakopoulou. Asimakopoulou, who works as a senior cross asset execution ...

The PwC Cyprus Foundation on Friday announced a strategic sponsorship collaboration with Cyprus Seeds. Cyprus Seeds is a private, non-profit organisation whose mission is to support the commercialisation of innovative ...

Inflation in Cyprus dropped to a three-year low of 0.6 per cent in October, mainly due to falling petroleum prices, according to a report from the Cyprus Statistical Service (Cystat). Still, ...

Eurobank’s third-quarter results mark a significant milestone as the bank fully integrates Cyprus’ Hellenic Bank for the first time since acquiring a majority stake, said Eurobank CEO Fokion Karavias. “...