Russia-Ukraine fallout starts felling fragile ‘frontier’ economies
The fallout of the Russia and Ukraine war has just helped tip two of world’s poorest countries into full-blown crises, and the list of those at risk – and the ...
US stops Russian bond payments in bid to raise pressure on Moscow
The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at US banks, in a move meant to ...
UK shoppers turn to own-label food as inflation bites, research shows
British shoppers are increasingly choosing own-label products to help counter surging inflation, according to research by NielsenIQ that showed overall supermarket spending down on a year ago when COVID lockdown ...
Lebanon’s central bank not bankrupt, governor says
Lebanon Central Bank Governor Riad Salameh on Monday denied that the institution he has led for 30 years was bankrupt and said it was still going about its legally-mandated role despite ...
Pandemic made access to capital harder for Cypriot businesses
The Central Bank of Cyprus on Monday said that the coronavirus outbreak in Cyprus, exacerbated by the emergence of the Omicron variant, led to a sudden tightening of business loan ...
Cyprus Business Now
Belarusian video game company Wargaming, which has its headquarters in Cyprus, announced on Monday that has decided to cease the ownership or operation of any businesses in both Russia and ...
Musk takes 9 per cent stake in Twitter to become top shareholder
Tesla Inc (TSLA.O) top boss Elon Musk revealed a 9.2 per cent stake in Twitter Inc (TWTR.N), worth nearly $3 billion, likely making him the biggest shareholder in the micro-blogging ...
Russia, China woes risk worst EM corporate default wave since financial crash
JPMorgan has warned that the combination of Russia’s war in Ukraine and China’s ongoing property crash could see the worst wave of corporate defaults since the global financial ...
House discusses new procedures for bank licences
The House finance committee on Monday discussed a bill that would make companies applying for a bank licence to pay the processing fee.
Under the legislation, the Central Bank would ...
Nearly half of crypto owners first bought digital assets in 2021
Almost half of all cryptocurrency owners in the United States, Latin America and Asia Pacific purchased the digital assets for the first time in 2021, according to a new survey from ...
Surging Covid cases force easyJet to cancel UK flights over staff shortages
A renewed surge of COVID-19 in Britain has forced airlines including easyJet to cancel hundreds of flights in recent days as staff sickness levels soar.
England dropped all its coronavirus ...
Turkey’s inflation jumps to 20-year high as energy prices surge
Turkey’s annual consumer inflation leapt to a 20-year high of 61.14 per cent in March, data showed on Monday, fuelled by rising energy and commodity prices following the Russia-Ukraine conflict ...
Oil rises above $105 as supply concerns persist
Oil rose above $105 a barrel on Monday as concern about tight supply arising from Russia’s invasion of Ukraine and the lack of an Iranian nuclear deal persisted despite countries ...
What lies ahead for real estate?
The end of the year 2021 saw no major alterations in Cypriot real estate. The lower end of the housing market directed towards locals, with properties in the region of €300.000-€500.000, ...
Defensive stocks underpin UK’s FTSE 100
Britain’s main share index held steady on Monday, with investors buying into defensive stocks as talks of more sanctions against Russia over its invasion of Ukraine kept risk appetite ...
Choice of a competent court
A case is referred to a competent court if it has jurisdiction
The choice of the court before which a case is filed relates to its jurisdiction and in case ...
Metaverse security aspect must not be ignored, Microsoft says
With the adoption of the metaverse being seen as a matter of time, US technology company Microsoft warned that past mistakes when new mediums entered the mainstream must be avoided, ...
The chip challenge: Keeping Western semiconductors out of Russian weapons
When Silicon Valley chipmaker Marvell learned that one of its chips was found in a Russian surveillance drone recovered in 2016, it set out to investigate how that came to be.
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Oil prices set to open after largest weekly fall in two years
Oil futures were set to open for Asian trade on Sunday, after both Brent and US crude benchmarks posted their biggest weekly falls in two years last week as the ...
Build or buy? Automakers chasing Tesla rethink dependence on suppliers
Automakers racing to develop battery-powered, software-driven vehicles to compete with Tesla Inc (TSLA.O) are confronting a new challenge: what technology to build themselves, and what to keep buying from ...
Was closure of RCB as a bank avoidable?
The ‘controlled resolution’ of RCB in the wake of the Ukraine crisis is a minor bump in the road compared to the 2013 crisis, but one expert says it could have ...
Russia’s rouble rebound is not as real as it seems
The rouble has staged a lightening-fast recovery to levels last reached in the days before Russia invaded Ukraine, defying predictions that the war would launch it into freefall.
The dramatic ...
Beware of wartime fake news triggering a run, EU banks told
Banks should beware of fake news that could trigger a run on their deposits, the European Union’s banking watchdog said in a warning on Friday about potential fallout from ...
Europe’s appetite for US gas fast-tracks two new LNG projects
Two US liquefied natural gas (LNG) projects took major steps toward launching this week as Russia’s threats to cut energy supplies to Europe drives up demand and prices for ...