Deutsche Telekom to sell towers stake for $17.5 bln
Deutsche Telekom (DTEGn.DE) has agreed to sell 51 per cent of its towers business to a consortium of Canada’s Brookfield and US private equity firm DigitalBridge after they placed ...
Oil prices fall ahead of potential large US rate hike
Oil prices fell on Thursday as investors weighed tight supplies against the prospect of a large US rate hike that could stem inflation and curb crude demand.
Brent crude futures ...
Why the euro’s fall below parity versus dollar matters
Europe’s single currency has dropped below parity against the dollar for the first time in almost 20 years, battered by growing recession fears in the euro area.
On Wednesday, it ...
Labour minister praises digitisation efforts after new service launched
Labour minister Kyriacos Koushos on Wednesday expressed satisfaction at the launch of the social insurance office’s digital service for receiving childbirth aid.
Koushos, who also thanked Deputy Minister for ...
Cyprus Business Now
Value added in the construction sector in Cyprus dropped after 5 years of growth in 2020, according to the construction and land development survey conducted by the Cyprus Statistical Service (Cystat).
The ...
The road ahead for Cyprus’ alternative investment funds
By Robert Street
In recent years Cyprus has significantly enhanced its fund legislation to position itself as a flexible and cost-effective jurisdiction for funds and fund managers within the European ...
Assets under management drop by 3.9 per cent in Q1 2022
The total value of assets under management (AUM) by Collective Funds declined by 3.9 per cent in the first quarter of 2022 over the previous quarter, while Management Companies and Undertakings of ...
Wall Street falls after red-hot inflation data
Wall Street’s main indexes fell on Wednesday after hotter-than-expected inflation data fueled bets that the US Federal Reserve will hike interest rates aggressively to tame surging prices.
The Labor ...
US consumer inflation rises to highest annual rate since 1981
US consumer prices surged 9.1% in June, the largest annual increase in more than four decades amid stubbornly high costs for gasoline, food and rent, cementing the case for another 75-basis-point ...
Computer chips face toilet paper hoarding moment as shortage turns to glut
A supply chain crisis triggered by the global pandemic deprived makers of PCs and smartphones to cars of computer chips needed to make their products.
All that suddenly changed over ...
Dollar jumps, euro breaks parity after consumer prices surge
The dollar surged to a 20-year high against a basket of currencies and the euro broke below parity against the greenback after data on Wednesday showed US consumer price inflation ...
EU edges closer to ending ‘too-big-to-fail’ banks by 2024
The European Union’s body for dismantling failed banks said on Wednesday it would ratchet up pressure on lenders over the coming months to bolster their defences so that none ...
Oil edges higher; market wary of US inflation data
Oil edged up on Wednesday, a day after settling below $100 a barrel for the first time since April, and gains were limited by a US supply report showing rising inventories ...
Euro clings to parity as markets await US inflation data
The euro was hovering just above parity with the US dollar on Wednesday while traders focused on US data due later in the session that is expected to show inflation ...
Egypt raises domestic fuel prices in quarterly review
Egypt’s fuel pricing committee in a quarterly review on Wednesday raised domestic fuel prices by 0.50 Egyptian pounds for 80-octane, 92 octane petrol, and diesel while 95-octane petrol was raised by 1 ...
Twitter sues Elon Musk to hold him to $44 billion deal
Twitter Inc TWTR.N sued Elon Musk for violating his $44 billion deal to buy the social media platform and asked a Delaware court to order the world’s richest person ...
Cyprus university partners up with multinational software company
The Cyprus University of Technology (Tepak) earlier this week entered into a partnership agreement with software company SoftOne Cyprus.
The partnership was ratified through the signing of a memorandum of ...
G20 watchdog to propose first global crypto rules in October
The Financial Stability Board (FSB) said on Monday it would propose “robust” global rules for cryptocurrencies in October, following recent turmoil in markets that has highlighted the need to regulate ...
Maritime sector career prospects to be showcased at event
The Cyprus Chamber of Commerce (Keve) on Tuesday announced that it will be holding a seminar on career prospects in the maritime sector.
The seminar, which is being held in ...
Cyprus Business Now
The total number of permanent staff employed by the government decreased by 679 persons or 2.5 per cent, with the figure dropping from 26,629 to 25,950, according to the Cyprus Statistical Service (Cystat).
In ...
U.S. climate envoy: Europe’s return to coal should be temporary
Moscow’s war in Ukraine must not sideline European Union efforts to cut carbon emissions even as the continent is forced to turn back to coal to cope with reduced ...
Russia gives exiting firms time by pausing asset seizure law
Moscow’s plan to implement a new law enabling authorities to seize the assets of Western firms leaving the country failed to get through parliament before the summer recess, giving ...
Euro pulls back from near parity, up 0.2 per cent
The euro bounced from near-parity versus the dollar on Tuesday and pushed into positive territory in volatile London trading.
Against the greenback, the euro rose 0.2 per cent to $1.0057 after falling 0.4 ...
EU has frozen £13.8bn of Russian assets over war
The European Union has so far frozen 13.8 billion euros worth of assets held by Russian oligarchs, other individuals and entities sanctioned for Moscow’s war against Ukraine, the bloc’s ...