Business

Credit rating agency Standard and Poor’s affirmed Cyprus’ long-term credit rating at BBB-, while maintaining a positive outlook, stressing that despite the Ukrainian crisis and economic sanctions against Russia, ...

The vice president of the European Investment Bank (EIB), Liliana Pavlova, visited the University of Cyprus this week in order to review the activities and funded projects of the EIB ...

KODAP released its 2022 budget in early February. Out of €119million, over €34 million is allocated to the construction of a strategic oil reserve storage at Vasiliko, with another €23million budgeted to ...

By Ioannis Tirkides This is an unfortunate war and sets in motion significant new long-term processes in the relations between East and West, Russia’s place in the global system ...

By George Pirishis A large number of people based in Russia who work for companies registered in Cyprus have expressed an interest in moving to the island, non-profit organisation TechIsland ...

By Jonathan Shkurko and Antigoni Pitta Transport Minister Yiannis Karousos and Deputy Minister of Tourism Savvas Perdios reassured hoteliers and local authorities in the Famagusta district on Friday that the ...

Minister of Finance Constantinos Petrides met with the vice president of the European Investment Bank (EIB) Liliana Pavlova on Friday, discussing the current state of the economy, as well as ...

Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, has cut dozens of jobs over the past year as part of a one billion dirham ($272.29 million) ...

Oil prices rebounded on Friday as fears of Western sanctions that could disrupt Russian oil exports outweighed the possibility of more Iranian supplies while reports of a nuclear plant fire ...

Japan’s Sony Corp (6758.T) and Honda Motor Co Ltd (7267.T) said on Friday they would pair up to develop and sell battery-powered electric vehicles, as the electronics maker furthers ...

So far global companies, banks and investors have announced that they have exposure in some form to Russia of more than $110 billion. That number could rise. Data from research firm ...

The euro was set for its worst week versus the dollar in nearly two years, as the war in Ukraine and the prospect of sustained high commodity prices continued to ...

Ukraine’s ambassador to Turkey urged Ukrainian travel agencies on Thursday not to work with an association of Turkish agencies over what he called its ‘two-faced’ stance amid Russia’s ...

A responsible-investing group representing $10 trillion of assets under management and advisement said companies could be right to cut Russian business ties to protest Moscow’s invasion of Ukraine, but urged ...

Ukrainians working at Western tech companies are banding together to help their besieged homeland, aiming to knock down disinformation websites, encourage Russians to turn against their government, and speed delivery ...

Rising fuel costs, electricity, fruit and vegetables have caused inflation to go up by 6.6 per cent in February, according to data published on Thursday by the Cyprus Statistical Service (Cystat). ...

Unemployment fell to 6.3 per cent of the workforce in the fourth quarter of 2021, compared to 8 per cent in the corresponding quarter of 2020. According to a labour force survey conducted by ...

By George Pirishis In an effort to contain costs from the rising fuel prices, the government has decided to temporarily reduce the excise tax on petrol and diesel by 7 cents ...

Sneaker maker Nike and home furnishings firm IKEA shut down stores in Russia on Thursday, as trade restrictions and supply shutdowns added to political pressure for companies to stop business ...

The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.06 per cent, compared to December 2021, according to Cyprus Central Bank. At ...

The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has already done for seven Russian banks, an ...

Entain (ENT.L) rode the popularity of online betting during lockdowns to report higher annual core earnings on Thursday, but the British gambling firm refrained from paying shareholders a dividend. ...

The Russian rouble slid further on Thursday, hitting record lows against the dollar and euro, after ratings agencies Fitch and Moody’s downgraded Russia’s sovereign debt to “junk” status ...

Britain will ban Russian companies from the London insurance market, the world’s largest commercial and speciality insurance centre, its finance ministry said on Thursday. Russian companies in the aviation ...