Hellenic agrees to reimburse former co-op employees
Hellenic Bank announced on Wednesday that it will raise the wages of former Co-op bank employees who work for them, following a 2014 cut, which had carried over when the co-op ...
Oil prices dip on US crude stock build, supply worries cap losses
Oil prices eased on Wednesday after industry data showed US crude stockpiles rose more than expected, though supply worries capped losses. Brent crude futures for December fell $1.03, or 1.1 per cent, ...
Difficult year for electricity, says energy regulator
The Cyprus Energy Regulatory Authority (Cera) on Wednesday delivered its report for 2021 to President Nicos Anastasiades saying the island’s electricity market is looking forward to the future despite the ...
Petrides warns against suspension of foreclosure bill
Finance Minister Constantinos Petrides on Wednesday said the decision on a possible foreclosure suspension now lies with the House, warning, however, that amidst rising rates, there is a danger that ...
Deutsche Bank reports big jump in profit despite slump in dealmaking
Deutsche Bank (DBKGn.DE) on Wednesday posted a better-than-expected jump in third-quarter profit as a trading boom at its investment bank offset a nosedive in dealmaking, but executives highlighted risks ...
Twitter is losing its most active users, internal documents show
“Is Twitter dying?” billionaire Elon Musk mused in April, five days before offering to buy the social media platform.
The reality, according to internal Twitter (TWTR.N) research seen by ...
Global economy approaching a recession, central banks unchained
The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies while central banks keep raising interest rates to bring down ...
Egypt oil min says framework agreement in place on Gaza Marine field
Egypt’s petroleum minister confirmed on Tuesday a framework agreement had been reached to develop the Gaza Marine gas field offshore Gaza and talks were under way to conclude a ...
Cyprus copper can help EU meet its raw material demands
Cypriot mining company Venus Minerals on Tuesday released a statement explaining that Cyprus can help the European Union achieve its raw material strategic objectives by providing it with copper.
“The ...
British pound fiasco boosts bitcoin’s hedge appeal
As a developed nation, you know your currency’s in a spot of bother when investors start to hedge with bitcoin.
After Britain’s brief Prime Minister Liz Truss unleashed ...
Cyprus Business Now
There was an increase of more than €19.5 million in the cost of overtime and allowances paid by the Republic of Cyprus in 2021, after the relaxation of restrictive measures that had ...
Tel Aviv Stock Exchange to restructure and create crypto platform
The Tel Aviv Stock Exchange (TASE) (TASE.TA) said on Monday it would reshape its ownership structure and also create a blockchain platform to allow more trading of crypto currencies ...
Commission issues preliminary assessment of Cyprus’ request for €85 million RRF disbursement
The European Commission on Tuesday endorsed a positive preliminary assessment of Cyprus’ payment request for €85 million in grants under the Recovery and Resilience Facility (RRF), while Cyprus lost €90 million in ...
Sek warns of strikes if CoLA not fully reinstated
Sek trade union warned on Tuesday that if the cost-of-living allowance (CoLA) fails to be fully reinstated they will mobilise their workers.
“Reinstating the cost-of-living allowance is not negotiable,” secretary ...
Microsoft powers up search for Chinese gaming hits in race against Sony
Microsoft Corp (MSFT.O) is stocking up on Chinese video game content to emulate Sony Group Corp’s (6758.T) success with “Genshin Impact”, sources said, solidifying China’s transition from ...
Milestone moment for Cyprus tech sector after ecosystem map launch
TechIsland, a non-profit association, on Tuesday, announced the launch of a new initiative, which ranks as an important milestone for the development of Cyprus’ technology and startup ecosystem.
On Wednesday, ...
Decade of central bank largesse haunts taxpayers as losses loom
For more than a decade since the global financial crisis, central bankers pumped trillions of dollars of cheap money into the financial system to keep the economy afloat. Now that ...
How is Germany replacing Russian gas?
Germany, Europe’s biggest economy and historically a major importer of Russian gas, is scrambling to secure alternative supplies following a plunge in flows from Russia since its invasion of ...
Oil rises as US dollar loses steam though demand fears linger
Oil prices rose on Tuesday as the US dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from ...
Google sets up high-tech school at Israeli University
Alphabet Inc’s Google (GOOGL.O) and Israel’s Reichman University have set up a school to train high-tech professionals, offering courses in computer programming, sales and data analysis among ...
Egypt to develop new currency indicator to wean people off US dollar
Egypt will develop a new currency indicator partly to wean people off the idea that the Egyptian pound should be pegged to the US dollar, the new central bank governor ...
Airbus eyes Saudi deal for almost 40 A350 jets
Saudi Arabia is in advanced negotiations to order almost 40 A350 jets from Europe’s Airbus (AIR.PA) as part of strategic efforts to launch a new airline and challenge heavyweight ...
The impact of technology on hotel guest experience
The world of food and beverage has significantly evolved and has certainly had an impact on how we travel, our hotel vacation preferences, and how we perceive the locations with ...
Toyota scrambles for EV reboot with eye on Tesla
Toyota (7203.T) is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing ...