Cyprus Business Now
Cyprus-based Multimarine Services Ltd this week announced that it has marked a significant achievement with the successful construction of a floating electrical hub, heralding the island’s entrance into the ...
Roark Capital to buy sandwich chain Subway for up to $9.55 bln
Private equity firm Roark Capital agreed on Thursday to buy Subway, in a deal that people familiar with the matter said values the US sandwich chain at up to $9.55 billion, ...
Lockheed’s Sikorsky wins $2.7 billion US Navy contract
Sikorsky, a unit of Lockheed Martin (LMT.N), said on Thursday it was awarded a $2.7 billion contract by the US Navy to build 35 additional CH-53K helicopters.
The CH-53K ...
Moscow demands bigger discounts from foreign companies exiting Russia
Some foreign companies trying to exit Russia are facing a big jump in costs as Moscow is demanding bigger discounts on the price tags of assets they want to sell, ...
Eurobank increases share in Hellenic Bank to 48.1 per cent
Eurobank on Friday announced a further increase in its ownership share of Hellenic Bank, with the bank disclosing that it has reached an agreement with Senvest Management LLC to acquire ...
Mastercard, Binance to end crypto card partnership
Mastercard (MA.N) and crypto exchange Binance will end their four crypto card programmes in Argentina, Brazil, Colombia and Bahrain as of Sept. 22, a spokesperson for Mastercard said via email ...
Stocks swoon, dollar firms as Powell speech looms
Asian stocks sold off and the dollar scaled an 11-week peak against major peers on Friday as investors braced for the risk of a hawkish tilt from Federal Reserve Chair ...
German economy stagnates in second quarter after winter recession
The German economy stagnated in the second quarter compared to the previous three months, following a winter recession, data from the statistics office showed on Friday.
The figure of zero ...
US sues SpaceX, alleges hiring discrimination against asylum recipients, refugees
The US Justice Department sued Elon Musk-owned rocket and satellite company SpaceX on Thursday for allegedly discriminating against asylum recipients and refugees in hiring.
“The lawsuit alleges that, from at ...
Fashion retailer H&M to reopen most Ukraine stores
Fashion retailer H&M (HMb.ST) will reopen most of its stores in Ukraine, beginning in November of this year, the Swedish company said in a statement on Thursday.
...
Cyprus Business Now
Invest Cyprus CEO Marios Tannousis this week praised the crucial role played by the Cypriot diaspora in promoting the country on the international stage.
Speaking at the Global Cypriot Diaspora ...
Fed coming up snake eyes in its battle with spend-happy consumers
The new Caesars casino in Danville, Virginia, is a temporary facility reminiscent of an airplane hangar and with limited food and drink options.
It still saw 400,000 visitors lay out more ...
UK retail sales slide by most in over two years
British retail sales fell in August at the fastest rate since March 2021 and most stores are expecting another tough month ahead, an industry survey showed on Thursday.
The Confederation of ...
CySEC chairman: ‘Eurobank mandated to bid for 100 per cent of Hellenic Bank’
The chairman of the Cyprus Securities and Exchange Commission (CySEC) George Theocharides on Thursday stated that Eurobank should proceed with a mandatory public offer to the shareholders of Hellenic Bank ...
Turkey shocks with big rate hike to 25%, boosting lira
Turkey’s central bank hiked its key interest rate by a larger-than-expected 750 basis points to 25% on Thursday, sparking a rare lira rally and signalling a new determination to address rebounding ...
Cyprus government seeking to boost SME mergers and acquisitions
The cabinet of ministers on Thursday approved an action plan for the provision of incentives seeking to boost mergers and acquisitions between small and medium-sized enterprises (SMEs).
As stated after ...
Limassol cements role as conference tourism leader in Cyprus
The Limassol tourism board on Thursday held a press conference to officially welcome the upcoming M&I Europe Summer Forum, a major event that is due to take place ...
UK economy shows signs of slowdown as BoE rate hikes mount
Britain’s economy is slowing and might be heading for a recession as it feels the impact of 14 back-to-back interest rate increases by the Bank of England to fight high ...
New Boeing 737 MAX supplier defect to delay aircraft deliveries
Boeing (BA.N) has recently identified a new 737 MAX quality problem involving supplier Spirit AeroSystems (SPR.N) that has resulted in improperly drilled holes on the aft pressure bulkhead, the ...
BRICS invites six nations to join developing world bloc
Leaders of the BRICS group of developing nations have invited Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates to join, in a move aimed at growing the ...
Bounce in European property stocks: false start or turning point?
It’s hard to be bullish about real estate in an environment of sharply higher interest rates. Yet unloved property stocks in Europe staged a surprise rally this summer, suggesting ...
Slide in euro zone service sector sharpens ECB’s rates dilemma
Euro zone business activity declined far more than thought in August with the slide in Germany particularly fast, while some inflationary pressures returned, surveys showed.
Wednesday’s purchasing managers’ indexes ...
Air travel boosts Cyprus transportation and storage sector
Cyprus’ transportation and storage sector experienced a substantial growth of 17.3 per cent during the second quarter of 2023, compared to the same period last year, according to a report released this ...
Cyprus Business Now
The Association of Cyprus Tourist Enterprises (Stek) and the regional administration of the island of Crete this week announced that they are set to hold an initiative under the banner ...