British borrowing costs surge, sterling plunges after new economic plan
British government bond yields surged by the most in a day in over three decades on Friday, the pound slid to a fresh 37-year trough against the dollar and stocks ...
ANALYSIS-UK tax cuts seen as cold comfort for poorest Britons
Low-income Britons will see few benefits from the historic tax cuts announced by the country’s new finance minister on Friday, union leaders and anti-poverty campaigners said, warning that the ...
‘Artificial intelligence is a tool for human creativity, not a risk’
Cypriot scientist and academic Xenia Miscouridou speaks to PANIS PIERI about artificial intelligence, data science, working with Google, as well as being involved with research and innovation.
It is a ...
Accenture warns of forex hit amid strong IT services’ demand
Accenture Plc on Thursday warned this year’s dollar surge would hurt its fiscal 2023 results, even as robust demand for digital offerings helped the IT services major top quarterly earnings ...
German economic downturn deepens in Sept, outlook grim
The downturn in German business activity deepened in September, a preliminary survey showed on Friday, as higher energy costs hit Europe’s largest economy and companies saw a drop in ...
Oil prices edge down, recession fears back in focus
Oil prices fell on Friday amid recession fears and a stronger US dollar, though losses were capped by supply concerns after Moscow’s new mobilisation campaign in its war with ...
Britain sends investors fleeing with historic tax cuts and borrowing (Updated)
Britain’s new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases in borrowing on Friday in an economic agenda that floored financial markets, with sterling and British ...
Turkey’s lira at fresh record low after surprise rate cut
The Turkish lira sank to a fresh record low on Thursday after the central bank delivered yet another surprise interest rate cut, this time of 100 basis points.
The CBRT cut ...
Kyndryl launch product to reduce IT infrastructure complexity
Kyndryl, one of the world’s largest providers of IT infrastructure services with offices in Cyprus, announced a new digital integration platform that gives businesses real-time access to valuable information ...
Cyprus and Romania build ties on cybersecurity, innovation and entrepreneurship
The visit of Deputy Minister of Research, Innovation and Digital Policy Kyriakos Kokkinos to Romania has been branded a success. The delegation focused on discussing cybersecurity, digital transformation matters and ...
Cyprus GDP to grow as unemployment falls and inflation normalises
The Central Bank of Cyprus (CBC) on Thursday said that the Cypriot economy’s primary macroeconomic figures for the years 2022-2024 are favourable according to its projected medium-term forecasts, which ...
Paphos shortlisted in European smart capital contest
The Paphos tourism board (Etap) this week has released a statement congratulating the Paphos municipality for competing among other cities in order to be designated as the European Capital of ...
Cyprus sees increased interest in digital nomad visas
Interior Minister Nicos Nouris on Thursday said that the government’s adoption of a new strategy designed to attract international businesses to Cyprus has led to significantly increased interest from ...
Cyprus Business Now
The Turnover Value Index of Wholesale Trade in Cyprus during the second quarter of 2022 rose by 33.4 per cent, compared to the corresponding quarter of the previous year, according to data ...
Tourism: Cyprus preparing for a ‘difficult’ 2023
After reaching the target of surpassing the number of flights recorded last year, the deputy ministry of tourism is preparing for a “difficult” 2023, as the end of the war in ...
HSBC fund arm toughens thermal coal policy to curb climate change
HSBC Holdings Plc told Reuters on Thursday it will stop financing the expansion of thermal coal from funds it manages actively with immediate effect, marking an acceleration of a broader ...
No relief for bruised markets as Fed signals higher rates for longer
A Federal Reserve dead-set on fighting inflation is leaving little hope that this year’s rocky markets will end anytime soon, as policymakers signal rates rises faster and higher than ...
Bank of England raises rates to 2.25%, despite likely recession
The Bank of England raised its key interest rate to 2.25% from 1.75% on Thursday and said it would continue to “respond forcefully, as necessary” to inflation, despite the economy probably already ...
Bank of Cyprus bid makes case for lender buyouts
By Liam Proud
Banks usually make for tricky private equity targets. Turnoffs include demanding regulators and high leverage, which stops buyers from piling on further debt. But when prices are ...
Sri Lanka inflation rate surges to 70.2% in August
Consumer inflation in Sri Lanka accelerated to 70.2% in August,the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades.
The National Consumer ...
Dollar towering, stocks cowering as Fed flags more hikes
The dollar surged to a fresh two-decade high and stocks slid on Thursday with investors unsettled by the Federal Reserve’s aggressive outlook for US interest rates and braced for ...
Oil rises as supply fears outweigh recession worries
Oil rebounded on Thursday after sliding 1 per cent in the previous session as concerns over tight supplies heading into winter eclipsed fears of a global recession.
Brent crude futures rose 15 ...
Europe’s vegetable farmers warn of shortages as energy crisis bites
Emmanuel Lefebvre produces thousands of tonnes of endives on his farm in northern France annually, but this year he may abandon his crop because of the crippling energy costs required ...
Britain to examine competition in cloud services
Britain’s communications regulator said it would investigate the position of cloud “hyperscalers” Amazon, Microsoft and Google, which together account for around 81 per cent of revenue in the market, to ...