Business

International rating agency Morningstar DBRS on Saturday rated Cyprus at a BBB (high) long-term credit rating with a stable trend, noting that favourable economic prospects balance downside risks. “The stable ...

Cyprus’ wholesale trade sector experienced a modest increase in 2023, rising by only 0.9 per cent, according to a report released on Friday by the state’s statistical service. In addition, the ...

Cyprus’ Index of Trade and Repair Activities of Motor Vehicles witnessed a surge of 30 per cent on an annual basis in 2023, primarily reflecting the increased prices, particularly in the used ...

Deputy Minister of Tourism Kostas Koumis this week said that “a sustainable destination is one that respects both its visitors and its own resources, both natural and human”. Koumis’ comment ...

By Zafiris Tzannatos What was once a common practice in authoritarian regimes, such as those of Nazi Germany, the Soviet Union, and Communist Romania, is now being revived all over ...

Memory chipmaker Micron Technology (MU.O) surged 18 per cent earlier this week and was set to open trading at a record high after its strong revenue forecast fanned optimism that ...

Cohere, an artificial intelligence startup that develops foundation models to compete with ChatGPT creator OpenAI, is in advanced talks to raise $500 million at a valuation of about $5 billion, according to ...

In line with the annual global awareness campaign, Global Money Week 2024, coordinated by the Central Bank of Cyprus (CBC), the CBC has taken the initiative to create educational videos aimed ...

The Central Bank of Cyprus (CBC) on Friday slightly revised its forecast for the country’s economic growth in 2024, estimating it to be at a rate of 2.8 per cent. This ...

The annual growth rate of the Composite Leading Economic Index (CPI) of Cyprus continued to slow in February 2024, remaining marginally positive. This trend, according to the Economics Research Centre (CypERC) ...

The Consumer Protection Service on Friday reminded the public that fuel prices are set to rocket at the beginning of April when government subsidies come to an end. Motorists will ...

Deputy Minister of Tourism Kostas Koumis this week said that “a sustainable destination is one that respects both its visitors and its own resources, both natural and human”. Koumis’ comment ...

Oil prices were little changed on Friday, with global benchmark Brent hovering above $85 per barrel, as the possibility of a ceasefire in Gaza gained traction. Brent crude futures were down 2 ...

The US government’s antitrust lawsuit against Apple (AAPL.O) draws on the watershed 1998 case that broke Microsoft’s stranglehold on desktop software, but that may prove to be an ...

The Department of Registrar of Companies this week said that annual fees for companies registered with it are abolished from 2024 onwards, however, annual fees for the years 2011-2023 continue to ...

Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it could lead to costly ...

Minister of Labour Yiannis Panayiotou said this week that proficiency in Greek will play a pivotal role in the approval of renewed work permits and for new foreign applicants. Acknowledging ...

The Swiss National Bank cut its main interest rate by 25 basis points to 1.50 per cent on Thursday, a surprise move which made it the first major central bank to dial ...

Norway’s central bank kept its benchmark interest rate unchanged at a 16-year high of 4.50 per cent on Thursday, as unanimously expected by analysts, and signalled it plans a single ...

Brazil is expected to post its third annual increase in coffee production this year, a rare sequence seen only seven times in 144 years of coffee history in the world’s ...

The liquefied natural gas (LNG) terminal in Cyprus is back on track and should be finished by the end of the year, China’s ambassador to Cyprus said on Thursday. “...

The U.S. Department of Justice and 15 states on Thursday sued Apple, alleging it used the powerful demand for its iPhone and other products to drive up prices for its ...

Turkey’s central bank unexpectedly raised interest rates by 500 basis points to 50% on Thursday, citing a deteriorating inflation outlook and pledged to tighten further if significant and persistent deterioration in ...

Telecommunications company Cyta is moving ahead with a study on the creation of a new data centre, amidst interest from a total of ten companies, according to Cyta chairperson Maria ...