Business

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, ...

Bankrupt crypto exchange FTX sued crypto lender Voyager Digital on Monday, seeking to claw back $445.8 million in loan repayments that FTX made before collapsing into bankruptcy in November 2022. FTX and ...

A Russian court on Tuesday fined streaming service Twitch 4 million roubles ($57,000) for failing to remove what it said were “fakes” about Russia’s military campaign in Ukraine, the Interfax news ...

The outgoing government is handing over a healthy and robust economy, with prospects for further growth and development in the current years, Finance Minister Constantinos Petrides said during a presentation ...

Alpha Bank Cyprus on Tuesday announced that its board of directors has decided to appoint Miltos Michaelas as the bank’s new chief executive officer (CEO). The bank explained that ...

Oil prices fell on Tuesday as the prospect of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China. March Brent crude futures fell by $1.01, ...

Turkey’s tourism revenue hit a record $46.3 billion in 2022 even as its trade deficit swelled to more than $109 billion, as a fallout from war in nearby Ukraine brought a surge ...