#business

Here are the top business stories in Cyprus from the week starting July 31: Hellenic Bank on Tuesday announced that chief executive officer Oliver Gatzke will be stepping down from his ...

“Smart” technologies in homes reduce energy use and bills, prompting stepped-up European research in the field. By Helen Massy-Beresford They may lack the environmental wow factor of switching to an ...

It’s a high bar, but companies reporting second-quarter earnings in recent weeks have talked up artificial intelligence even more than in the previous quarter. S&P 500 (.SPX) companies ...

Shares of PayPal Holdings (PYPL.O) fell more than 8 per cent in premarket trading earlier this week as weak second-quarter margins at the digital payments firm overshadowed a strong forecast. ...

The University of Cyprus Entrepreneurship Centre (CEC) on Friday officially announced the commencement of the Cyprus Entrepreneurship Competition (CyEC) for 2023. As with every year, the competition is organised by the ...

In June, the interest rates on deposits in the Cypriot banking system experienced the largest monthly increase since the European Central Bank (ECB) began its efforts to raise key interest ...

The Consumer Price Index (CPI) in Cyprus experienced a 1.5 per cent increase in July 2023, marking the slowest rate of inflation since March 2021, according to a report released this week by ...

The National Bank of Greece (Cyprus) this week released a statement in which it announced the appointment of Philippos Mannaris as an Independent Non-Executive Member and Chairman of the Board ...

There was a decrease of 6.8 per cent, totalling 958 individuals, recorded among the registered unemployed in Cyprus during July 2023, according to a report released this week by the state’s statistical ...

Meta Platforms (META.O) this week introduced its open-source AI tool called AudioCraft that will help users to create music and audio based on text prompts. The AI tool is ...

Cyprus bankers’ union Etyk this week released a statement conveying their positive outlook on the recent changes in the administration of Hellenic Bank, congratulating the interim Chief Executive Officer Antonis ...

US electric vehicle startups are expected to show the impact of Tesla’s price war when they report quarterly results over the next few days, with investors awaiting details on ...

Around 24,000 British Airways (ICAG.L) staff are set to receive a pay rise of 13.1 per cent over 18 months, the Unite trade union said on Friday, with the award reflecting the ...

Oil prices were on track for a sixth week of gains after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through September. ...

The Bank of England’s modest rate hike on Thursday soothed politicians’ angst over runaway borrowing costs while its pledge to deliver more if needed signalled to markets that it ...

Cyprus saw its net new borrowing, excluding restructurings, reach €1.73 billion in the first half of 2023, showing a modest annual increase of 1.26 per cent, according to a report released this week ...

National flag carrier Cyprus Airways this week announced the appointment of Christos Limnatitis as the company’s new Chief Commercial Officer (CCO). According to the announcement, Limnatitis has previously worked ...

European Union banks’ plans for surviving a major crisis without having to tap central bank money will undergo intense scrutiny next year, the bloc’s banking watchdog said. The need ...

Adidas (ADSGn.DE) sales should fall only slightly in 2023, a better outcome than previously expected, the sportswear giant said on Thursday, confirming strong demand for its remaining Yeezy shoes would ...

British fashion retailer Next (NXT.L) raised its guidance for annual profit by 10 million pounds ($12.7 million) to 845 million pounds on Thursday, after full price sales and the end-of-season summer sale ...

European Central Bank board member Fabio Panetta made the case on Thursday for keeping the ECB’s interest rates at their current high level for longer, rather than raising them ...

State-owned asset management company Kedipes on Thursday announced that in the coming days, it will be returning interest payments totalling €4.6 million to borrowers with restructured credit facilities for the first ...

Three Tesla (TSLA.O) owners in California on Wednesday sued the automaker in a proposed class action that accuses the company of falsely advertising the estimated driving ranges of its ...

German airline group Deutsche Lufthansa (LHAG.DE) on Thursday said it expected high demand for travel, especially in premium classes, to continue for the rest of the year as it ...