EU nears first legal framework on artificial intelligence
By Stefanos Sofroniou
The first ever legal framework on Artificial Intelligence could be agreed upon by the EU legislators as soon as this December. The draft Regulation proposed by the ...
Shopify merchants seek AI boost for key sales decisions
A week after e-commerce giant Amazon(AMZN.O) said it is giving its sellers new generative artificial intelligence advertising tools this holiday season, Shopify (SHOP.TO) has to prove to ...
PC market recovery gathers pace as Intel, AMD tout potential of ‘AI PC’
The earnings of Intel (INTC.O) and Advanced Micro Devices (AMD.O) have offered more evidence a recovery is gathering pace in the personal computer market, boding well for an ...
Cyprus among top ten destinations for British travellers
A recent survey conducted on behalf of the Association of British Travel Agents (ABTA) has shed light on new travel trends among British tourists, with Cyprus making it to the ...
Cyprus sees surge in new loans in September 2023 — total reaches €578 million
New loans in Cyprus reached €578 million in September 2023, indicating a €52.3 million increase compared to the previous month when they stood at €525.7 million, according to a report released this week by ...
Cyprus retail trade sees robust growth in September 2023
The Retail Trade Turnover Index in Cyprus increased by 8.6 per cent compared to the same month the previous year, according to a report released this week by the Cyprus Statistical ...
Cyprus Business Now
The Paphos Regional Tourism Board (Etap) is continuing its efforts to promote the district’s rural areas, aiming to increase the number of visitors to local communities, according to a ...
Governments race to regulate AI tools
Rapid advances in artificial intelligence (AI) such as Microsoft-backed OpenAI’s ChatGPT are complicating governments’ efforts to agree laws governing the use of the technology.
Here are the latest steps ...
Cypriot entrepreneurs shine in bicommunal startup event
The 2023 Startups4Peace (Su4P) programme, the EU Innovative Entrepreneurship project, funded by the European Union, in collaboration with the Embassy of Finland, this week revealed the names of the ...
MEPs discuss remote work, Green Line regulation at Limassol event
The Limassol Chamber of Commerce and Industry (Evel), in partnership with the European Parliament, held its second annual round table discussion on Thursday evening, with discussions revolving around a number ...
Finance Minister urges Cypriot industrialists to seek external investors
Finance Minister Makis Keravnos this week highlighted the positive outlook for Cyprus’ economy and expressed his vision of supporting both small and large Cypriot industrialists in expanding their investments and ...
Limassol still the driving force in Cyprus’ real estate sector — sales hit €310 million in third quarter
Limassol’s real estate market saw a total of 1,235 properties being sold during the third quarter of 2023, with a combined value of €310 million, according to Cypriot fintech Ask Wire.
The ...
Oil heads for weekly losses as Mideast worries ease
Oil prices were little changed on Friday, but headed for a second week of losses as supply concerns driven by conflict in the Middle East eased, while the demand outlook ...
Amazon made $1 billion through secret price raising algorithm
Amazon.com (AMZN.O) used a series of illegal strategies to boost profits at its online retail empire, including an algorithm that pushed up prices US households paid by more ...
Private equity rushes to Gulf as fundraising dries up
A growing number of private equity funds are opening offices in the Gulf, hoping to deepen their ties with cash-rich sovereign wealth funds and families in the region as funding ...
Hamburg skyscraper construction halted in grim sign for German property sector
Construction of one of Germany’s tallest buildings has suddenly halted midway after the developer stopped paying its builder, yet another ominous sign for the nation’s troubled property sector.
...
Cyprus GDP forecast revised down by economics research centre
The University of Cyprus’s Economics Research Centre (CypERC) this week revised its projections for the country’s real GDP growth downward for 2023, citing various challenges and uncertainties.
The centre’...
Cyprus Business Now
The City of Dreams Mediterranean has been honoured with the title of the world’s best new luxury resort-casino at the Seven Stars Luxury Hospitality and Lifestyle Awards 2023 (SSLHLA).
In ...
UK’s Sainsbury’s sees full-year profit at upper half of guidance
British supermarket group Sainsbury’s forecast full-year profit at the upper half of previous guidance as it reported slightly better-than-expected flat profit for the first half due to demand for ...
Kraft Heinz lifts annual profit target again on margin boost from higher prices
Kraft Heinz (KHC.O) this week raised its 2023 profit estimates for the second time this year after topping quarterly earnings estimates on higher prices for its packaged meals and condiments, ...
Japan unveils $113-billion package to cushion inflation
Japanese Prime Minister Fumio Kishida said on Thursday the government will spend over 17 trillion yen ($113 billion) on a package of measures to cushion the economic blow from inflation, which will ...
Pound rises after BoE holds rate steady and rules out quick cuts
The pound rose on Thursday after the Bank of England held interest rates at a 15-year high but stressed that it did not intend to cut them any time soon.
...
Turkey hikes required reserves ratio for FX-protected lira deposits
The Turkish central bank hiked required reserves for FX-protected lira deposits by 5 percentage points, according to a decision published in the Official Gazette early on Thursday.
The central bank increased ...
Ferrari has no current plans to move registered office from the Netherlands
Luxury sports carmaker Ferrari (RACE.MI) has no plans to transfer its registered office from the Netherlands at the moment, a spokesperson for the company said on Wednesday.
Earlier on ...