Egypt’s import squeeze hobbles economy as dollars run short
Christeen Aiad from eastern Cairo had been hoping to buy a small automatic car this year, but rules preventing importers trading in scarce dollars put paid to that and she ...
Apple drops plan to boost iPhone production as demand falters
Apple Inc is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday, citing people ...
A brief introduction to Uniglo.io (GLO), Avalanche (AVAX), and the Sandbox (SAND)
A recently established initiative in the decentralized finance (DeFi) industry is Uniglo (GLO). Few individuals were aware of this new enterprise before the first part of its presale began on ...
IMF latest to criticise UK economic policy, Bank of England to make big response
The International Monetary Fund openly criticised Britain‘s new economic strategy, following another slide in bond markets that forced the Bank of England to promise a “significant” response to stabilise ...
Cyprus businesses mostly unhappy with government support measures
One in ten Cypriot businesses said that they consider the government’s support measures to have helped, while two in ten businesses consider that they have helped to an adequate ...
Cyprus Business Now
There was a net increase of €173.7 million in total deposits and a net decrease of €100 million in total loans in August 2022, according to a report released on Tuesday by the ...
The Dow is in a bear market. What does that mean?
The Dow Jones Industrial Average, the oldest of Wall Street’s three main stock indexes, dropped 1.1 per cent on Monday, extending the decline from its January peak to more than 20 ...
Cryptoverse: Bitcoin miners get stuck in a bear pit
Spare a thought for the beleaguered bitcoin miner.
In late 2021, miners were the toast of the town with a surefire path to profit: hook powerful computers up to cheap power, ...
Pummelled pound faces long road back as investor confidence shredded
Sterling’s slide to record lows leaves it staring at parity with the dollar. Whether or not it hits the symbolic level, investors say Britain’s new government has dealt ...
Philippines to shut 175 offshore gambling firms
The Philippines will stop operations of 175 offshore gambling firms and deport about 40,000 Chinese workers, a justice ministry official said on Monday, part of a crackdown on the notoriously opaque online ...
Are you ready for the biggest event for Creators in Cyprus?
We are happy to announce that on September 29th the most influential creators, entrepreneurs and founders in the world will collide at the luxurious Parklane Hotel in Limassol with a ...
Lone Star will not submit new bid for Bank of Cyprus (updated)
Private equity firm Lone Star, in a statement issued on Tuesday to the London Stock Exchange, said that it is not intending to submit a revised offer for the acquisition ...
Oil rises as focus turns to possible supply cuts
Oil prices rose more than 1 per cent on Tuesday, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a ...
Chronoly (CRNO) jumps while loss multiplies for Elrond (EGLD), 1Inch Network (1Inch) investors
The value of several cryptocurrencies have plummeted in the last one year. Their downfall became steeper during the crypto market upheaval this year. Digital assets like Elrond (EGLD) and 1Inch ...
Bitcoin bounces above $20,000 for first time in about a week
Bitcoin broke above $20,000 on Tuesday for the first time in about a week, as cryptocurrencies bounced, along with other risk-sensitive assets, in Asian trade.
The biggest cryptocurrency by market value, ...
Reversing UK confidence crash requires policy U-turn: economists
Rock-bottom investor confidence in Britain will only recover with a U-turn of the economic plan announced last week by finance minister Kwasi Kwarteng, US economist Larry Summers and J.P. ...
Cyprus tourism should always be assessed and improved
The Association of Cyprus Tourist Enterprises (Stek) on Monday said that ‘rethinking tourism’, the key theme of this year’s World Tourism Day, highlights the importance of the continuous improvement ...
A history of UK currency crises and crashes
Britain’s pound plunged to an all-time low early on Monday as international investors reacted to plans laid out by the country’s new prime minister and finance minister to ...
Cyprus ranked 29th in retirement security
Investment management company Natixis has ranked Cyprus in 29th place in its global retirement index for 2022, with a total score of 62 per cent.
“The Global Retirement Index (GRI) is a ...
Cyprus Business Now
Cypriot company Louis Plc this week announced that it has recorded a significant improvement in its operational revenue during the first half of 2022, reaching €32.5 million during this time, compared to €6.2 ...
Group of countries to push EU for gas price cap
A group of European Union countries want to push Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a draft letter seen ...
With eye on Big Tech, energy crisis, EU telcos call for shared network costs
Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and 13 other European telecoms providers on Monday made their strongest push for Big Tech to share network costs, citing the ...
Economy and Competitiveness Council presents long-term strategy ‘Vision 2035’ to MPs
“Cyprus should be one of the best places in the world to live, work and be active” is the vision on the basis of which the Cyprus Economy and Competitiveness ...
Energy, inflation crises risk pushing big economies into recession, OECD says
Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into ...