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, ...
UK house prices drop by most since 2009
British house prices fell by the most since 2009 in the 12 months to July, mortgage lender Nationwide said on Tuesday, as the drag from rising interest rates on the housing market ...
UK shop price inflation eases in July
Prices in British store chains rose in July at the slowest annual rate this year, industry data showed on Tuesday.
The British Retail Consortium said annual shop price inflation cooled ...
Cyprus property prices surge — foreign buyers contribute to rising demand
The housing market in Cyprus experienced a notable upswing during the first quarter of 2023, as property prices continued to soar, particularly in the apartment segment, primarily driven by increased demand.
...
BP boosts dividend even as profit slumps 70 per cent to $2.6 billion
BP’s (BP.L) second-quarter profit slumped 70 per cent from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy ...
Pound’s mini-budget dip made UK’s Brexit bill dearer
Sterling’s drop at the time of former Prime Minister Liz Truss’s failed budget plans meant the British taxpayer stumped up tens of millions of pounds extra to fund ...
Cyprus retail trade booms in June 2023
Cyprus’ retail trade boomed in June 2023, with both volume and value seeing a significant increase when compared to the same month in 2022.
The Retail Trade Value Index rose by 8.4 per ...
Hellenic Bank CEO Oliver Gatzke steps down
In an unexpected move, Hellenic Bank on Tuesday announced that chief executive officer Oliver Gatzke will be stepping down from his position a year early.
The decision comes after Gatzke ...
Cyprus records half-year surplus of €155.5 million
Cyprus has recorded a fiscal surplus of €155.5 million, equivalent to 0.5 per cent of GDP, during the first half of 2023, according to the latest preliminary results, released on Monday by the ...
Cyprus Business Now
The Central Government of Cyprus saw its total debt rise to €23.83 billion as of June 30, 2023, according to a report by the state’s Public Debt Management Office.
The latest figures ...
Euro zone inflation falls further in comforting sign for ECB
Euro zone inflation fell further in July and most measures of underlying price growth also eased, in a largely comforting sign for the European Central Bank as it considers ending ...
War comes to Russian business after drones strike Moscow’s financial centre
Economic sanctions have been the biggest headache for Russia’s business elite since the start of the war in Ukraine, but a drone strike in the heart of Moscow’s ...
Bank of Cyprus successfully completes stress test
The Bank of Cyprus Group on Monday released a statement in which it confirmed that it has successfully completed the EU-wide stress test for 2023.
The announcement by the bank explained ...
Cyprus private debt surges to 218 per cent of GDP
Cyprus witnessed a significant surge in private debt during the first quarter of 2023, reaching a staggering 218 per cent of the country’s Gross Domestic Product (GDP), amounting to €60.1 billion, according ...
UK markets watchdog ready to pounce as new consumer power comes into force
Britain’s markets watchdog is ready from Monday to jump on any firm failing to adhere to a new duty to justify charges to customers in one of the regulator’...
Investors still see blue sky ahead for Europe travel stocks
European travel stocks stumbled into some profit-taking as earnings season kicked off and extreme weather hit in July, but many investors are betting relatively attractive valuations and solid demand will ...
Manchester United renews Adidas partnership in $1.1 bln 10-yr deal
Manchester United (MANU.N) on Monday renewed the soccer club’s partnership with official kit supplier Adidas (ADSGn.DE) for 10 more years and a minimum cash guarantee of 900 million pounds ($1.16 ...
Oil inventory drops set stage for higher prices
Oil inventories are beginning to fall in some regions as demand outpaces supply constrained by deep production cuts from OPEC leader Saudi Arabia, providing support for prices which are expected ...
Israel’s judicial reform turmoil threatens economic growth, investment
Israel’s economy may face ratings downgrades, falling foreign investment and a weaker tech sector if turmoil arising from the government’s contentious judicial reforms continues, investors and analysts warn.
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Coca-Cola raises annual forecasts as demand unaffected by price hikes
Coca-Cola Co (KO.N) raised its annual revenue and profit forecasts after beating quarterly results on the back of higher pricing, with demand for its sodas remaining resilient at a ...
Porsche’s iconic 911 to be sole survivor of automaker’s combustion models
Porsche (P911_p.DE) has a plan to gradually electrify its car lineup so that electric vehicles make up 80 per cent of sales by 2030, and it aims to make its ...