Business

The subsidy for the cost of electricity consumption from September 1, 2022 to January 31, 2023 amounted to €58.4 million, the finance ministry said on Thursday. In an announcement, the ministry said that it had ...

Britain’s finance ministry laid out its first set of rules to regulate cryptoassets on Wednesday, saying ongoing turbulence in the sector and the collapse of exchange FTX highlighted risks ...

Developing fully autonomous vehicles (AVs) that can go everywhere has proven harder and more expensive than expected, but investors are continuing to fund startups that target simpler self-driving vehicle solutions ...

Investment firms and brokers in Britain teamed up on Thursday to back a new standalone retail platform to strengthen access for small investors to the UK capital market. Investment bank ...

PayPal Holdings Inc (PYPL.O) will need to cut more costs with its payment volumes expected to shrink as customers batten down the hatches to prepare for a potential economic ...

Shell delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russia’s invasion of Ukraine ...

Cyprus’ net Foreign Direct Investment (FDI) position decreased further in 2021, with the dominant partner, both in terms of inward and outward FDI being Russia, according to a report released by ...

The household debt ratio in Cyprus stood at 77 per cent of GDP at the end of the third quarter of 2022, marking a slight decrease compared to the previous quarter, according ...

Deloitte Cyprus on Wednesday announced that it has signed a sponsorship agreement with the Cyprus Olympic Committee (Koe), valid until the end of 2024, the year of the Paris 2024 Olympic Games. ...

Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90 per cent devaluation from its current official ...

The overall solvency ratio of the Cypriot banking sector stood at 21.2 per cent at the end of September 2022, its highest level since the Central Bank of Cyprus (CBC) began collecting ...

Nicosia-based software developer company ASCANIO has received follow-on funding of €300,000 from Kinisis Venture Fund I, the first CySEC-registered venture capital fund focusing primarily on Cypriot startups. ASCANIO joined the portfolio ...

Cypriot airline TUS Airways announced on Wednesday a record number of passengers in 2022, with an increase of more than 1,100 per cent across the entire network compared to 2021. In its announcement, ...

The White House has expressed outrage at Exxon Mobil Corp’s record net profit in 2022 of $56 billion, a historical high not just for the company but for the entire Western ...

Egypt’s net foreign assets (NFAs) improved by 47.28 billion Egyptian pounds in December, marking a second month of increases after it allowed its currency to depreciate sharply in October, central ...

The money exchange shop in Lebanon’s Bekaa Valley was buzzing with business. Cellphones pinged endlessly and employees shouted out various rates as customers flocked in carrying plastic bags of ...

Intel Corp (INTC.O) said on Tuesday that it had made broad cuts to employee and executive pay, a week after the company issued a lower-than-expected sales forecast driven by ...

The euro zone eked out growth in the final three months of 2022, managing to avoid a recession even as sky-high energy costs, waning confidence and rising interest rates took a ...

Cyprus-based Gear Education, an education technology solutions company, announced on Wednesday that it has entered into an official partnership with software company Alma as a reseller to schools and organisations ...

The average cost of a data breach in 2022 cost $4.35 million. In 2023, this is expected to grow to $5 million. Globally, cybercrime is predicted to cost $8 trillion in 2023. This is expected to ...

The Cyprus University of Technology (Tepak) and the Open University of Cyprus on Tuesday announced that they have signed a cooperation agreement for the design and launch of a new ...

Cardano (ADA) and Orbeon Protocol (ORBN) are quickly becoming the talk of the crypto world as the next generation of smart contract platforms. Orbeon Protocol (ORBN), in particular, has caught ...

Airbus (AIR.PA) and Boeing (BA.N) have set the stage for the next chapter in their titanic rivalry by remodelling two of the world’s largest buildings – gutted by ...

The Cyprus Securities and Exchange Commission (CySEC) announced that there was an increase in the number of Management Companies and Undertakings of Collective Investments (UCIs) during the third quarter of 2022, ...