Business

Hellenic Bank’s interim chief executive officer, Antonis Rouvas, said he wants to promote changes and handle long-standing issues pending at the bank, such as the collective agreement with staff. ...

Restaurants and bars in Cyprus experienced occupancy rates ranging between 70 and 80 per cent in July, in another disappointing month for local business owners, according to Neophytos Thrasyvoulou, president of the ...

Rating agency Fitch on Tuesday downgraded the US government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the ...

The Bank of England, which looks set to raise interest rates again on Thursday, must weigh up the need to fight an inflation rate running at more than four times ...

Eurobank Cyprus on Wednesday released its financial results for the first half of 2023, with the figures reflecting a solid performance characterised by strong capital adequacy and profitability. The bank’s ...

Tech giants Apple (AAPL.O) and Microsoft (MSFT.O) remained the top two global companies by market capitalisation at the end of July after riding this year’s rally in ...

In an official statement released by Hellenic Bank this week, it has been confirmed that the bank has retained its position as the most adequately capitalised systemic bank in Cyprus, ...

British house prices fell by the most since 2009 in the 12 months to July, mortgage lender Nationwide said on Tuesday, as the drag from rising interest rates on the housing market ...

Prices in British store chains rose in July at the slowest annual rate this year, industry data showed on Tuesday. The British Retail Consortium said annual shop price inflation cooled ...

US auto safety regulators said Tuesday they have opened an investigation into 280,000 new Tesla (TSLA.O) Model 3 and Model Y vehicles over reports of loss of steering control and power ...

The housing market in Cyprus experienced a notable upswing during the first quarter of 2023, as property prices continued to soar, particularly in the apartment segment, primarily driven by increased demand. ...

Officials have given assurances that by September Cyprus will do a test run of an ultimate beneficial owners (UBO) register for companies, and that by the end of the year ...

BP’s (BP.L) second-quarter profit slumped 70 per cent from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy ...

Sterling’s drop at the time of former Prime Minister Liz Truss’s failed budget plans meant the British taxpayer stumped up tens of millions of pounds extra to fund ...

Cyprus’ retail trade boomed in June 2023, with both volume and value seeing a significant increase when compared to the same month in 2022. The Retail Trade Value Index rose by 8.4 per ...

In an unexpected move, Hellenic Bank on Tuesday announced that chief executive officer Oliver Gatzke will be stepping down from his position a year early. The decision comes after Gatzke ...

The cryptocurrency exchange giant Binance (BNB) recently announced that it will stop offering its services in the Netherlands due to regulatory scrutiny. This move marks another setback for Binance (BNB), ...

Cyprus has recorded a fiscal surplus of €155.5 million, equivalent to 0.5 per cent of GDP, during the first half of 2023, according to the latest preliminary results, released on Monday by the ...

The Central Government of Cyprus saw its total debt rise to €23.83 billion as of June 30, 2023, according to a report by the state’s Public Debt Management Office. The latest figures ...

Euro zone inflation fell further in July and most measures of underlying price growth also eased, in a largely comforting sign for the European Central Bank as it considers ending ...

Economic sanctions have been the biggest headache for Russia’s business elite since the start of the war in Ukraine, but a drone strike in the heart of Moscow’s ...

urkey’s tourism revenues jumped 23.1 per cent to $12.98 billion in the second quarter, Turkish Statistical Institute data showed on Monday, maintaining a strong trend in the sector. Revenues in 2022 surged 53.4 ...

The Bank of Cyprus Group on Monday released a statement in which it confirmed that it has successfully completed the EU-wide stress test for 2023. The announcement by the bank explained ...

Hungarian low-cost airline Wizz Air celebrated its six millionth passenger to either take off from or land at Larnaca airport on Monday. The airline gave a travel voucher to the ...