UK government: no spending cuts, no reverse on tax cuts
Britain’s new government said on Wednesday it would not reverse its vast tax cuts or reduce public spending as it sought to stand firm in the face of yet ...
Nine out of ten businesses say digital transformation important for growth
Most businesses believe that digital transformation is important for sustainability but are not ready for the transition, a new survey showed on Wednesday.
The survey on the technology and digital ...
AstroBank becomes full owner of NPL service company
AstroBank announced on Wednesday the acquisition of QQuant Master Servicer Cyprus Limited, an independent servicer of non-performing loans.
The two parties have agreed that AstroBank, which owned 25.1 per cent in ...
Meta’s new Quest Pro headset, mixing real and virtual worlds, makes debut
Meta Platforms (META.O) unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for Chief Executive Mark Zuckerberg’s break into the higher-end market for ...
How does Bitcoin affect the entertainment industry?
Bitcoin is the first ever cryptocurrency that has changed the mind of people toward fiat currency. Bitcoin has established a meaningful spot in the marketplace in just a decade. Many ...
Twitter reviews policies around permanent user bans
Twitter Inc (TWTR.N) is reviewing its policies around permanently banning users, possibly bringing its content moderation in line with Elon Musk’s vision for the social media platform, the ...
British pension funds press BoE to extend bond buys amid cash scramble
UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the Bank of England calls time on support aimed at keeping them ...
Oil prices extend decline on recession fears, China COVID curbs
Oil prices fell for a third straight session on Wednesday as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening COVID-19 curbs ...
UAE launches new unemployment insurance scheme
The United Arab Emirates launched an unemployment insurance scheme on Tuesday as part of reforms aimed at attracting more talent and investment to the regional business hub amid rising competition.
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How does the Bitcoin blockchain have so much potential?
Bitcoin or cryptocurrencies, in general, use a distributed ledger called blockchain technology. It is a decentralized system that aids in the recording of the transactions of Bitcoin or any digital ...
UK economy unexpectedly shrinks in August, falls by 0.3 per cent
Britain’s economy shrank by 0.3 per cent in August, hit by weakness in manufacturing and maintenance work in North Sea oil and gas fields, according to official data which underscored ...
Cyprus Business Now
The Association for the Protection of Borrowers (Syprodat) on Tuesday released a statement in which it requests meetings with House Speaker Annita Demetriou, Central Bank Governor Constantinos Herodotou, as well ...
Musk’s banks may have a way to cut losses from Twitter deal
Elon Musk’s banks, faced with huge losses on their commitment to finance the $44 billion buyout of Twitter Inc (TWTR.N), may not be able to back out of the ...
Hack jitters push bitcoin investors back to the future
It’s not easy being a crypto investor.
They’ve seen the value of their holdings drop like a brick this year, and now many are stewing over the safety ...
Nissan takes $687 mln loss as sells Russian business for 1 euro
Nissan Motor Co Ltd (7201.T) will hand over its business in Russia to a state-owned entity for 1 euro ($0.97), it said on Tuesday, taking a loss of around $687 million in the ...
IMF upgrades Cypriot economy 2022 growth rate compared to April forecast
The International Monetary Fund (IMF) has upgraded its forecast on the growth rate of the Cypriot economy in 2022 to 3.5 per cent of the GDP from 2.1 per cent that it expected ...
Biden congratulates Israel, Lebanon on maritime border deal
U.S. President Joe Biden spoke with the leaders of Israel and Lebanon on Tuesday to congratulate them over what the United States sees as a historic breakthrough over the ...
Opening up of electricity market now pushed back to next year
The ever-elusive date for opening up the electricity market appears to have been pushed back to 2023, as among other things the necessary legal regulations have yet to be passed by ...
Cyprus to host regional gas forum, focus on EU energy security
The upcoming conference of the Eastern Mediterranean Gas Forum (EMGF) in Cyprus on October 14, which Minister of Energy, Commerce and Industry Natasa Pilides is leading as forum president, will centre ...
War and prospect of rate hikes hoist dollar, gilt wipeout hits Treasuries
Asian stock markets fell and the dollar rose on Tuesday with investors worried about rising interest rates and an escalation in the Ukraine war, while Treasury yields leapt as a ...
Russian gas supply gap casts chill in Europe as winter nears
Europe needs to pay up to import liquefied natural gas, pray for a mild winter and cut energy demand as any sabotage of infrastructure or even deeper cuts to Russian ...
Fire-fighting Bank of England forced to buy inflation-linked bonds
The Bank of England acted again on Tuesday to stem a sharp sell off in Britain’s 2.1 trillion-pound ($2.31 trillion) government bond market by announcing the purchase of inflation-linked debt until ...
UK labour market exodus drives jobless rate down to 3.5 per cent
Britain’s unemployment rate fell to its lowest since 1974 at 3.5 per cent in the three months to August, but the drop was driven by a record jump in the number ...
Heathrow Airport warns on demand outlook for travel
Britain’s biggest airport Heathrow warned that the demand outlook for the coming winter was uncertain given the growing economic headwinds plus the impact of a new wave of COVID-19 ...