Cyprus Business Now
Deputy Minister of Tourism Costas Koumis this week visited the Limassol regional tourism board (Etal), pledging to provide solutions to longstanding issues in the district.
The meeting, which also saw ...
Limassol port manager committed to making Cyprus a top trade and cruise hub
Port management company DP World Limassol on Friday released a statement about the visit of three key ministers earlier this week, which marks the first official visit of the new ...
Second lab-grown chicken product cleared for human consumption by regulator
California-based cultivated meat company GOOD Meat has received clearance from the Food and Drug Administration to bring its lab-grown chicken to market, according to agency documents released on Tuesday.
Several ...
Central Bank revises projected growth for 2023 to 2.6 per cent
The Central Bank of Cyprus (CBC) on Friday announced that it has slightly increased its estimates for economic growth in 2023, citing a more positive external environment and expected lower energy ...
British retail sales rebound despite cash-strapped consumers
Cash-strapped British households cut back on eating out and takeaways last month and instead bought food at supermarkets and shopped at discount stores, giving an unexpected boost to retail sales, ...
JPMorgan, Citi, BofA tell staff not to poach clients from stressed banks
As a series of US lenders were besieged by customers yanking out their money this month, banking behemoths including JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and ...
ECB pressures Austria’s Raiffeisen bank to quit Russia
The European Central Bank is pressing Austria’s Raiffeisen Bank International (RBIV.VI) to unwind its highly profitable business in Russia, five people with knowledge of the matter told Reuters.
...
IMF: Lebanon in ‘very dangerous situation’ with reforms stalled
The International Monetary Fund warned on Thursday that Lebanon was in a very dangerous situation a year after it committed to reforms it has failed to implement and said the ...
Crypto founder Do Kwon indicted in US following Montenegro arrest
Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion or more last year, has been charged with fraud by US prosecutors.
An eight-count indictment against ...
Firm maps Nicosia properties that are easiest to sell
Properties in the municipalities of Nicosia, Strovolos and Aglantzia are the easiest to sell in the Cyprus capital, a report by Cypriot fintech Ask WiRE showed.
The company, which operates ...
Young Cypriots prioritise employers’ green credentials when job hunting
Women and younger correspondents more eager to embrace personal responsibility
The vast majority of young Cypriots that the environmental credentials of a potential employer are a vital part of their ...
Cyprus Business Now
Cyprus’ trade deficit for the period between January and December 2022 increased by €2 billion, marking a 34.5 per cent increase compared to the corresponding period in 2021.
According to data published by the ...
Investors cautious on US stocks, even though Fed hikes may soon end
The end of the Federal Reserve’s bruising rate hiking cycle may be in sight, yet investors are finding plenty to worry about when it comes to the US stock ...
Central banks keep hiking rates amid banking turmoil
The Bank of England on Thursday followed the Federal Reserve and the Swiss National Bank in hiking interest rates, as policymakers ploughed on with their fight against inflation in the ...
Swiss regulator defends its decision to write off AT1 bonds
Switzerland’s financial market regulator FINMA defended its decision to impose steep losses on some of Credit Suisse’s bondholders on Thursday, saying the decision was legally watertight.
On Sunday, ...
Erdogan tries to salvage economic credibility before Turkey’s election
Former Turkish economy tsar Mehmet Simsek’s refusal to return to politics has left President Tayyip Erdogan’s ruling party scrambling to rebuild its economic credibility less than two months ...
Oil spills and near misses: more ghost tankers ship sanctioned fuel
An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out ...
Citigroup CEO declares ‘this is not a credit crisis’ after US bank failures
Citigroup Inc (C.N) CEO Jane Fraser on Wednesday expressed confidence in US banks after a series of closures rattled investors and fueled turmoil in global financial markets.
“The banking ...
Oil dips after Fed comments, US crude stock build
Oil prices fell on Thursday following three sessions of gains, after Federal Reserve Chair Jerome Powell highlighted banking sector credit risks for the world’s largest economy, while US crude ...
Cyprus marine centre hosts shipping stakeholders for new project
The Marine Observation Centre of the Cyprus Marine and Maritime Institute (CMMI) announced this week that it successfully held its first workshop on March 10 2023 at the Cyprus Centre for Land, ...
Global Money Week 2023 wants to empower young people in Cyprus
The Global Money Week 2023 has begun in Cyprus, with the Central Bank of Cyprus coordinating the initiative, according to an announcement released on Wednesday.
This annual global campaign is held ...
Cyprus Business Now
The Trade Service of the Cyprus Ministry of Energy, Commerce and Industry announced this week that it participated in the food exhibition Foodex 2023, which was held in Tokyo, Japan.
The ...
What is the European Union AI Act?
The AI Act is expected to be a landmark piece of EU legislation governing the use of artificial intelligence in Europe that has been in the works for over two ...
Safe-havens and risk assets both rise as banking woes shift Fed expectations
Worries over the banking crisis are boosting disparate assets, with traditional safe-havens such as gold, Treasuries and money markets seeing high demand along with more speculative instruments such as tech ...