Business

Here are the top business stories in Cyprus from the week starting September 16: Following the recent announcement of a €30 million investment in premium AA games by Mad Crusader, a Cyprus-based ...

Booking.com’s restrictions against hotels offering lower rates on their websites or on rival sites are unnecessary and could reduce competition, Europe’s top court said this week in ...

Facebook owner Meta (META.O) agreed to buy up to 3.9 million carbon offset credits from Brazilian investment bank BTG Pactual’s forestry arm through 2038, the companies said this week in ...

Europe’s second-top court largely confirmed this week an EU antitrust fine imposed on US chipmaker Qualcomm (QCOM.O), revising it down slightly to 238.7 million euros ($265.5 million) from an initial 242 ...

Finance Minister Makis Keravnos on Saturday hailed rating agency Morningstar DBRS’ decision to give Cyprus a credit rating of BBB (high) and upgrade the island’s outlook from “stable” to “...

President Nikos Christodoulides expressed satisfaction with the appointment of Apostolos Tzitzikostas as the European Union’s new transport commissioner, the top EU post overseeing shipping, as well as the appointment ...

Prime Minister Keir Starmer’s warnings about the state of the British economy and the likely need for tax increases in next month’s budget have caused consumer confidence to ...

Intel (INTC.O) has announced that it had no plans to sell its majority stake in Mobileye Global (MBLY.O), sending shares of the self-driving tech firm up more than 8 ...

EU antitrust regulators launched proceedings this week to ensure that Apple (AAPL.O) complies with landmark rules requiring it to open up its closed ecosystem to rivals or risk a ...

British supermarket group Asda said its chairman, veteran retailer Stuart Rose, would assume the executive responsibilities of co-owner Mohsin Issa, who is stepping back from his leadership role. The UK’...

Cabinet on Friday approved the state budget for 2025 and the government’s medium-term fiscal framework for the three years between 2025 and 2027. Speaking after the day’s cabinet meeting, Finance Minister ...

Cyprus’ electricity regulatory authority (Cera) on Friday approved cabinet’s decision over the future of the Great Sea Interconnector project, adopting the requests of Greece’s Independent Power Transmission Operator (...

British retail sales rose by a stronger-than-expected 1 per cent in August and growth in July was revised up, official figures showed on Friday. Economists polled by Reuters had forecast a ...

Within the cryptocurrency space, we have witnessed radical changes and new audiences emerging as the competition rises to disruptions and the new room for creation is fast widening. It is ...

The European Investment Bank (EIB) is still open to investing in the electricity interconnector project between Cyprus and Greece, its Vice President Kyriacos Kakouris said on Friday. He stressed the ...

The profitability of the Cypriot banking sector surged in the first half of 2024, with after-tax profits rising to €602.92 million, compared to €345.64 million at the end of March 2024. According to the ...

Non-performing exposures (NPEs) within the Cypriot banking sector dropped to €1.70 billion at the end of June, down from €1.80 billion in March, according to the Central Bank of Cyprus (CBC). According ...

Chief Scientist Demetris Skourides participated in the inaugural AI and Web Festival Summit held in Dubai on September 11-12, according to an announcement released on Friday. This leading global event ...

The Cyprus Securities and Exchange Commission (CySEC) is participating in World Investor Week, scheduled for October 7-14, with a strong focus on financial literacy. “Financial literacy empowers citizens to manage ...

PwC Cyprus this week honoured the academic achievements of five trainees who distinguished themselves in the associate chartered accountant (ICAEW ACA) examinations. Prominent figures attended the award ceremony at the ...

President Nikos Christodoulides expressed satisfaction with the appointment of Apostolos Tzitzikostas as the European Union’s new transport commissioner, the top EU post overseeing shipping, as well as the appointment ...

Cypriot businesses are making real progress in innovation, with new products entering international markets, according to Research & Innovation Foundation (RIF) director general Theodoros Loukaidis. However, he explained that while ...

Russian authorities are discussing raising the one-off contribution that foreign companies leaving the country must make to the state budget to as high as 40 per cent from 15 per cent, the ...

The number of building permits issued in Cyprus experienced a significant surge in June 2024 as local authorities worked to process a backlog of delayed applications. The rush to clear the ...