Cyprus sees €1.73 billion in new borrowing
Cyprus saw its net new borrowing, excluding restructurings, reach €1.73 billion in the first half of 2023, showing a modest annual increase of 1.26 per cent, according to a report released this week ...
Cyprus Business Now
National flag carrier Cyprus Airways this week announced the appointment of Christos Limnatitis as the company’s new Chief Commercial Officer (CCO).
According to the announcement, Limnatitis has previously worked ...
EU banks face liquidity checks next year after 2023 crises
European Union banks’ plans for surviving a major crisis without having to tap central bank money will undergo intense scrutiny next year, the bloc’s banking watchdog said.
The need ...
Yeezy destocking helps lift Adidas sales outlook
Adidas (ADSGn.DE) sales should fall only slightly in 2023, a better outcome than previously expected, the sportswear giant said on Thursday, confirming strong demand for its remaining Yeezy shoes would ...
UK retailer Next raises annual profit guidance
British fashion retailer Next (NXT.L) raised its guidance for annual profit by 10 million pounds ($12.7 million) to 845 million pounds on Thursday, after full price sales and the end-of-season summer sale ...
ECB’s Panetta backs keeping rates high over more hikes
European Central Bank board member Fabio Panetta made the case on Thursday for keeping the ECB’s interest rates at their current high level for longer, rather than raising them ...
Kedipes to return €4.6 million to restructured loan borrowers
State-owned asset management company Kedipes on Thursday announced that in the coming days, it will be returning interest payments totalling €4.6 million to borrowers with restructured credit facilities for the first ...
Tesla faces California class action on its EV range claims
Three Tesla (TSLA.O) owners in California on Wednesday sued the automaker in a proposed class action that accuses the company of falsely advertising the estimated driving ranges of its ...
Lufthansa upbeat as leisure travel demand remains high
German airline group Deutsche Lufthansa (LHAG.DE) on Thursday said it expected high demand for travel, especially in premium classes, to continue for the rest of the year as it ...
Cyprus research ecosystem to benefit from €6 million scheme
In an effort to bolster the local research and innovation landscape, the Research and Innovation Foundation (R&I Foundation) on Thursday unveiled a new funding scheme worth €6 million.
The ...
Sluggish return of business travelers forces US airlines to rejig their networks
US airlines are enjoying strong leisure travel demand, but corporate travelers are still not back in full force, compelling airlines to restructure their networks to account for fewer people flying ...
Microsoft says Russia-linked hackers behind dozens of Teams phishing attacks
A Russian government-linked hacking group took aim at dozens of global organizations with a campaign to steal login credentials by engaging users in Microsoft Teams chats pretending to be from ...
France’s AFP sues Musk’s X social media, cites refusal to discuss payment for news
Agence France-Presse (AFP) said on Wednesday it filed a lawsuit in Paris against Elon Musk’s X social media platform, formerly known as Twitter, accusing it of failing to discuss ...
‘Cyprus property market better in 2023 but no meaningful conclusions yet’
The Cyprus Real Estate Agents Registration Council on Wednesday noted that the local property market has performed better during 2023, although it looks forward to drawing more meaningful conclusions after the ...
Cyprus collective investments reach €10.7 billion in managed assets
The Cyprus Securities and Exchange Commission (CySEC) on Wednesday reported a positive growth trend in the Collective Investments sector for the first quarter of 2023, with the number of Management Companies ...
Cyprus Business Now
Debt management company Themis Portfolio Management this week announced the launch of a new initiative aimed at finding mutually acceptable solutions for vulnerable borrowers who have their primary residence valued ...
Toyota revamps iconic Land Cruiser with hybrid version
Toyota (7203.T) on Wednesday unveiled the first hybrid version of its Land Cruiser that it will bring to North America and other key markets as it seeks to put a ...
Amazon to invest $7.2 billion in Israel, launches AWS cloud region
Amazon.com (AMZN.O) said this week that it is planning to invest about $7.2 billion through 2037 in Israel, and launched its Amazon Web Services (AWS) data centers in the country.
...
Cyprus bars and restaurants look to August after a disappointing summer
Restaurants and bars in Cyprus experienced occupancy rates ranging between 70 and 80 per cent in July, in another disappointing month for local business owners, according to Neophytos Thrasyvoulou, president of the ...
Fitch cuts US credit rating to AA+; Treasury calls it ‘arbitrary’
Rating agency Fitch on Tuesday downgraded the US government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the ...
Bank of England caught between inflation fight and recession risk
The Bank of England, which looks set to raise interest rates again on Thursday, must weigh up the need to fight an inflation rate running at more than four times ...
Eurobank Cyprus reports robust half-year financial performance
Eurobank Cyprus on Wednesday released its financial results for the first half of 2023, with the figures reflecting a solid performance characterised by strong capital adequacy and profitability.
The bank’s ...
Apple, Microsoft remain world’s top 2 companies by market cap
Tech giants Apple (AAPL.O) and Microsoft (MSFT.O) remained the top two global companies by market capitalisation at the end of July after riding this year’s rally in ...
Cyprus Business Now
In an official statement released by Hellenic Bank this week, it has been confirmed that the bank has retained its position as the most adequately capitalised systemic bank in Cyprus, ...