Central Bank digital currencies as weapons of finance?
By Maria Demertzis
Central bank digital currencies (CBDCs) have become a reality in ten countries: a number of countries in the Caribbean plus Nigeria. As a digital equivalent of a ...
Russia’s Urals oil averaged $57.49/bbl in past month, below price cap
The average price for Russia’s Urals oil blend was $57.49 per barrel between Nov. 15 and Dec. 14, Russia’s Finance Ministry said late on Thursday, below the Western cap of $60.
That ...
Nicolaou’s stint at the helm of BoC extended until 2026
Panicos Nicolaou’s term in office as Chief Executive Officer (Ceo) of the Bank of Cyprus has been extended for another 4 years.
During meetings on Friday, the Boards of Directors ...
New row brewing over higher tariffs at Limassol port
By Sarah Ktisti
New turmoil and serious problems are afoot at Limassol port due to the tariff increases that the port’s managing companies have decided to impose, with exports ...
European shares post worst weekly loss since September as recession fears mount
European shares slid on Friday, ending the week sharply lower after major central banks flagged further rate hikes, while economic activity data from the euro zone failed to assuage concerns ...
Cyprus to introduce minimum 15pct tax on multinational corporations
The island’s Finance Ministry on Friday said it will introduce a 15 per cent minimum corporate tax rate on multinational and domestic groups or companies with a combined annual turnover ...
Energy crisis fuels coal comeback in Germany
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
More than a third (36.3 ...
FTX bankruptcy judge to hear media companies’ request to reveal customer names
A group of media companies is set to argue on Friday to the US judge overseeing the FTX bankruptcy that they should be allowed to request that the collapsed crypto ...
Cyprus GDP to fall in 2023, recovery expected in subsequent years
Cyprus’ GDP is estimated to have reached a growth rate of 5.8 per cent for 2022, according to a report released on Friday by the Central Bank of Cyprus (CBC).
However, in ...
Oil falls, but poised for biggest weekly gain since early October
Oil fell on Friday as the market assessed the aftermath of interest rates hikes at central banks, but was poised for the biggest weekly gains in 10 weeks amid supply disruption ...
Twitter suspends several journalists, Musk cites ‘doxxing’ of his jet
Twitter on Thursday suspended the accounts of several prominent journalists who recently wrote about its new owner Elon Musk, with the billionaire tweeting that rules banning the publishing of personal ...
Turkish cenbank’s net FX reserves jump to $26.76 bln
The Turkish central bank’s net international reserves leapt some $3.6 billion to $26.76 billion in the week to Dec. 9, hitting their highest level this year, central bank data showed on Thursday.
...
Investors bet Fed will blink if recession hits despite ‘higher for longer’ mantra
Some investors believe an expected recession will force the Federal Reserve to loosen monetary policy next year, even as the central bank projects it will raise rates higher than it ...
Cyprus Business Now
The board of directors of the state-owned Cyprus Asset Management Company (Kedipes) on Thursday announced that they have decided on a new payment to the state to the tune of €80 ...
Three Cryptos to buy in December 2022: Orbeon Protocol (ORBN), Immutable (IMX), and Bitcoin (BTC)
Today, the crypto market is more mature than ever before and there are a growing number of cryptos that offer investors great returns. Orbeon Protocol (ORBN), Immutable (IMX), and Bitcoin (...
Hellenic Bank upgraded by agency, leaner structure praised
Capital Intelligence Ratings (CI Ratings) this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of Hellenic Bank (HB) to ‘BB’ from ‘BB-‘ and affirmed the ...
Microsoft to roll out ‘data boundary’ for EU customers from Jan. 1
Microsoft Corp (MSFT.O) said on Thursday its European Union cloud customers will be able to process and store parts of their data in the region from Jan. 1.
The phased ...
Germany calls for global regulation of crypto industry
Germany’s top regulator this week called for global regulation of the cryptocurrency industry to protect consumers, prevent money laundering and preserve financial stability.
Mark Branson, the president of Germany’...
Amid crypto turmoil, Hong Kong debuts first crypto futures ETFs
Two exchange traded funds (ETF) that track US-listed cryptocurrency futures have raised a combined $73.6 million ahead of their debut on the Hong Kong stock exchange on Friday in defiance of ...
Oil dips as dollar firms while more rate hikes loom
Oil prices dipped in Asian trade on Thursday as the dollar firmed, while the possibility of further interest rate hikes from global central banks also heightened demand concerns.
Brent crude ...
Putin says Russia will fight sanctions with shift in trade and energy flows
President Vladimir Putin said on Thursday that Russia would expand trade cooperation with new partners, including by sharply increasing gas exports to China, to combat Western sanctions.
When spending on ...
ECB slows rate hikes but pledges continued inflation fight
The European Central Bank raised interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, pledged further hikes and laid ...
Bank of England readies another rate hike even as recession hits
A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how ...
Three Cryptocurrencies to look out for in the coming weeks – EOS (EOS), Axie Infinity (AXS), and Orbeon Protocol (ORBN)
EOS (EOS), Axie Infinity (AXS), and Orbeon Protocol (ORBN) are among the few cryptocurrencies that have been able to post positive figures after the recent market downfall in November. While ...