Oil prices extend 4 per cent plunge as demand concerns loom
Oil prices fell on Wednesday, extending a plunge of more than 4 per cent the previous day and hovering at their lowest since December, on expectations that a political dispute halting ...
GSI bound by EU energy directive, says chamber of commerce
A European Union directive by which a set percentage of energy used by member state residents must be derived from an interconnected source, means Cyprus must press ahead with the ...
Cyprus consumer loan rates increase in July
The Central Bank of Cyprus (CBC) has reported a rise in interest rates on consumer loans, which increased to 6.67 per cent in July, up from 6.18 per cent in the previous ...
KV Fund invests €300,000 in Paphos startup
Darefore, a Paphos-based startup founded by brothers Marios and Panayiotis Kyriakou, has been incorporated into the KV Fund portfolio.
According to an official announcement released this week, the company’s ...
Cyprus business & economy daily wrap-up
The Cyprus property market saw apartments emerge as the preferred choice among buyers during the second quarter of 2024, according to a report released on Tuesday from the Cyprus Real Estate ...
Eurozone manufacturing slump deepens, demand hits 2023 low
Eurozone manufacturing activity remained mired in contraction in August, a survey showed this week, with the data suggesting a recovery could be some way off as demand fell at its ...
Updated on
‘Patience’ called for as state says no Interconnector decisions yet
The government on Tuesday was forced to deny media reports it has taken any final decisions hidden from the public eye regarding funding for the controversial electricity interconnector project.
“No ...
Rising costs push Cypriot property buyers towards apartments, estate agents say
The Cyprus property market saw apartments emerge as the preferred choice among buyers during the second quarter of 2024, according to a report released on Tuesday from the Cyprus Real Estate ...
Cyprus petroleum sales increase by 4.6 per cent in July
Cyprus saw an increase in the sales of petroleum products during July, which totalled 134,484 tonnes, marking a 4.6 per cent increase compared to July 2023.
According to a report released on Tuesday ...
How to mitigate fraud in international payments: Best practices and technologies
With the rapid growth of global commerce, international payments have become a crucial part of business operations for companies of all sizes. However, with the increase in cross-border transactions comes ...
Chevron confirms revised plan for Aphrodite
Chevron on Tuesday confirmed that on August 30, it resubmitted a revised development plan for the Aphrodite gas field to the energy ministry for evaluation.
The confirmation comes a day after ...
Globeducate expands Cyprus presence with acquisition of Olympion
Globeducate, one of the world’s leading K12 education groups, this week announced the acquisition of Cypriot educational group Olympion.
This notable group of private Greek schools, situated near Nicosia, ...
Cyprus lagging behind in EU recovery fund requests
The European Court of Auditors on Tuesday raised concerns about the slow absorption of the Recovery and Resilience Facility (RRF) funds across the European Union, warning of potential risks to ...
ECB policymakers split on growth outlook
European Central Bank policymakers are increasingly at odds on the outlook for growth, a rift that could shape the rate cut debate for months with some fearing a recession and ...
Cypriot AI startup raises €1 million in pre-seed funding
Cypriot startup Placy has secured €1 million in pre-seed funding, according to an announcement released on Tuesday.
The company provides an AI-powered virtual companion that aims to reshape how real estate ...
Cyprus business & economy daily wrap-up
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of ...
UK mortgage approvals hit post-2022 high
British lenders approved the highest number of mortgages in July since the start of the “mini-budget” crisis in 2022 under former Prime Minister Liz Truss, according to Bank of England data ...
Economic growth in Turkey cools to 2.5 per cent in second quarter
Turkey’s economy expanded by a less-than-expected 2.5 per cent in the second quarter of the year, data showed this week, cooling in the face of a year-long monetary tightening drive.
...
Shell and Turkey’s Botas to sign long-term LNG deal
Turkish state energy company Botas and British oil major Shell (SHEL.L) will sign a long-term LNG agreement on Monday, the Turkish Energy Ministry said.
It said Energy Minister Alparslan ...
Saudi Transport Minister visits Cyprus, discusses future collaboration
Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, on Monday visited DP World Limassol’s general cargo and cruise terminal, where he discussed avenues for further cooperation in areas of ...
Cyprus GDP reaches €6.61 billion in Q2 — construction, ICT, finance key sectors
The Cypriot economy grew by 3.6 per cent in the second quarter of 2024, compared to the same period in 2023, according to a report released this week by the Cyprus Statistical Service (...
Updated on
Urgent search for electricity interconnector solution
The government is in talks with a number of stakeholders over the Great Sea Interconnector project, with a key aim of ensuring reduced electricity prices to the public, President Nikos ...
Bank of Cyprus completes 41 per cent of share buyback programme
The Bank of Cyprus completed approximately 41 per cent of its maximum share buyback programme value by the end of August, according to an announcement by the bank.
The announcement noted ...
President upbeat about revised Aphrodite gas plan
The updated development plan for the Aphrodite gas field is moving “in the right direction” President Nikos Christodoulides said on Monday, while sources suggested the government would be issuing its ...