#business

The Non-Performing Loan (NPL) ratio in Cyprus remained unchanged at 8.3 per cent in November 2023, according to a report released on Thursday by the Central Bank of Cyprus (CBC). According to ...

Copper prices set to soar by more than 75 per cent over next two years Mark Rachovides, chairman of Venus Minerals and a member of Euromines, the voice of the European ...

Private debt in Cyprus, including households and non-financial companies, reached 206 per cent of GDP at the end of the third quarter of 2023, according to a report released this week by ...

TechIsland, the largest technology association in Cyprus, and member company Adsterra, on Thursday announced the launch of “Advocate For Yourself,” an educational programme under the Women in Tech Cyprus initiative. ...

A financial product that enables banks to shed risk from loan portfolios is gaining more popularity among lenders in the United States, with investors and lawyers devising new structures to ...

Oil prices rose on Thursday, supported by signals from the US Federal Reserve on a possible start to rate cuts and on new support measures for China’s embattled property ...

The euro hit a seven-week low on Thursday as the dollar rose after Federal Reserve Chair Jerome Powell pushed back against bets of a US rate cut as soon as ...

Tankers carrying Russian oil have continued sailing through the Red Sea largely uninterrupted by Houthi attacks on shipping and face lower risks than competitors, according to shipping executives, analysts and ...

The economic climate in Cyprus showed signs of improvement in January 2024, according to a report released this week by the University of Cyprus’ Economic Research Centre (CypERC). The Economic Sentiment ...

The Producer Price Index (PPI) in Cyprus’ industrial sector for the year 2023 witnessed a notable decrease of 4.5 per cent on an annual basis, according to a report released on Wednesday ...

Starbucks (SBUX.O) cut its annual sales forecast on Tuesday as the Israel-Hamas war hurt its Middle East business, while warning that softer demand in January and slow recovery in ...

H&M’s (HMb.ST) CEO unexpectedly quit on Wednesday and company veteran Daniel Ervér took over with immediate effect, as the Swedish fashion retailer struggles to boost ...

A Delaware judge tossed out Elon Musk’s record-breaking $56 billion Tesla (TSLA.O) pay package on Tuesday, calling the compensation granted by the EV maker’s board “an unfathomable sum” ...

Tourism revenue in Cyprus surged to nearly €3 billion during the January-November 2023 period, indicating a remarkable 22.5 per cent annual increase, according to a report released on Wednesday by the state’s ...

President of the Cyprus Institute Stavros Malas this week presented an innovative proposal for the establishment of a Centre of Excellence for Smart and Sustainable Farming (SMARTFARM) to the House ...

Saudi Arabia’s real gross domestic product (GDP) shrunk 3.7 per cent in the fourth quarter, government data showed on Wednesday, marking a second consecutive quarter of contraction, as a decline ...

Cyprus’ Deputy Ministry of Tourism on Wednesday stated that it sees a feasible opportunity for a further increase in tourist arrivals from Switzerland, estimating the number of visits from the ...

Universal Music Group (UMG) (UMG.AS) will cease licensing its content to TikTok and TikTok Music services, as the music label said on Tuesday that its agreement with the social ...

Eurozone governments sold a record amount of bonds directly to investors in January, seeing the highest demand ever, as hopes grow for interest rate cuts to support a weakening economy. ...

The International Air Transport Association (IATA) has reported encouraging data for November 2023, signalling a robust recovery in the air travel sector, with demand surpassing 99 per cent of 2019 levels. Total air ...

Limassol-based Tototheo Maritime, a leading provider of maritime satellite communications and technologies, on Tuesday announced its partnership with Orion Reederei, a prominent ship management company based in Germany. The company ...

HSBC (HSBA.L) has been fined 57.4 million pounds for “serious failings” in protecting up to 112 billion pounds ($142 billion)of deposits over several years, in the first penalty of its kind ...

Saudi Arabia’s government on Tuesday ordered state oil company Saudi Aramco (2222.SE) to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels ...

United Parcel Service (UPS.N) is to cut 12,000 jobs and explore strategic options for Coyote, its truckload freight brokerage business, after the company forecast full-year revenue below estimates. Shares in ...