Cyprus Business Now
Shipping Deputy Minister Vassilios Demetriades this week welcomed the decision by cruise line Royal Caribbean to open an office for their group in Cyprus, saying that this decision is proof ...
After a long, cold year, investors are flocking back to Europe
A European recession looked like a no-brainer just a few weeks ago, but that picture has changed dramatically, and investors have started pouring money into the region’s stocks, currency ...
EU lawmakers back ‘prohibitive’ capital rules for cryptoassets
European Union lawmakers backed a draft law on Tuesday to implement the final leg of post-financial global bank capital rules, adding “prohibitive” requirements to cover risks from cryptoassets.
The European ...
‘Foreclosure suspensions exclude young and poor from lending’
The Cyprus Fiscal Council on Tuesday said that decisions in the vein of the foreclosure suspension ultimately exclude the most financially vulnerable social groups from being able to get a ...
Musk says his SpaceX shares could have also helped fund taking Tesla private
Elon Musk told jurors on Monday he was sure he had locked up financial support from Saudi investors in 2018 to take his electric car maker Tesla Inc (TSLA.O) private, ...
Ford to cut up to 3,200 European jobs, union says, vowing to fight
Ford Motor Co (F.N) plans to cut up to 3,200 jobs across Europe and move some product development work to the United States, Germany’s IG Metall union said on ...
Gulf economies to slow this year on sluggish oil demand
Economies in the six-member Gulf Cooperation Council (GCC) will grow this year at half the rate of 2022 as oil revenues take a hit from an expected mild global slowdown, according ...
Qatar Investment Authority raises stake in Credit Suisse to just under 7 per cent
Qatar’s sovereign wealth fund has increased its stake in Credit Suisse (CSGN.S) to just under 7 per cent, becoming the Swiss bank’s second-largest shareholder after Saudi National Bank, ...
Microsoft to invest more in OpenAI as tech race heats up
Microsoft Corp (MSFT.O) on Monday announced a further multibillion dollar investment in OpenAI, deepening ties with the startup behind the chatbot sensation ChatGPT and setting the stage for more ...
Elon Musk, at trial, says he was sure Saudis backed taking Tesla private
Elon Musk testified on Monday that he was sure he had backing from Saudi financiers in 2018 to take Tesla Inc (TSLA.O) private, as he defended against claims he defrauded ...
ECB policymakers spar on rate outlook beyond Feb hike
European Central Bank policymakers laid out diverging views on future interest rate hikes on Monday, suggesting that moves beyond next week’s half a percentage point increase remain contentious.
The ...
Spotify to trim 6 per cent of workforce in latest tech layoffs
Spotify Technology SA (SPOT.N) said on Monday it plans to cut 6 per cent of its workforce and would take a related charge of up to nearly $50 million, adding to ...
Netflix’s ability to churn out hits gives it an edge over rivals
Netflix Inc’s (NFLX.O) steady stream of hit shows is helping it stand out in a crowded market while paving the way for double-digit revenue growth later this year, ...
P&G raises sales forecast on price hikes, sees volumes fall
Tide detergent maker Procter & Gamble Co (PG.N) raised its full-year sales forecast on Thursday and said it plans to continue raising prices despite a drop in sales volumes, ...
Finnish and French cities chart Europe’s path to clean energy
As Europe strives to become the first climate-neutral continent by 2050, Turku and Dijon are among a group of cities seeking to reach this goal two decades earlier.
By Gareth Willmer
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Elon Musk says Twitter has a headcount of about 2,300
Twitter Inc has about 2,300 active employees, Elon Musk said in a Tweet on Saturday.
CNBC on Friday reported that Twitter’s full-time headcount has reduced to about 1,300 active, working employees, ...
AI models like ChatGPT may lead to increased cybersecurity threats
Global cybersecurity spending, including enterprise products and services, is projected to increase by 13.2 per cent in 2023, remaining a key area of growth for various businesses in this sector, according to ...
Here’s what Twitter lost in advertising revenue in final months of 2022
Top advertisers on Twitter slashed their spending after Elon Musk’s takeover, according to estimates compiled for Reuters by research firm Pathmatics, in the latest shock to the company’s ...
Tesla uses its profits as a weapon in an EV price war
Tesla Inc (TSLA.O) earns more money for every vehicle it sells than any of its global rivals. Now, Chief Executive Elon Musk is using that superior profitability as a ...
Cyprus tourism to benefit from stronger golf product in coming years
The Cyprus Mail talked to Orestis Aristides, the director of Drakos DMC, about the company’s focus on golf on the island and how that sector is expected to grow ...
Cyprus Business Now
The Council for Registration of Real Estate Agents on Friday announced that it successfully held its new year event, in which it recapped the events of 2022, and set the tone ...
Prospects for the Cyprus EEZ in 2023
By Charles Ellinas
With no end in sight for the Russia-Ukraine war, global energy markets will continue to be unstable, making 2023 another difficult year for global energy.
On top of ...
State needs fiscal room to support green, digital and social programmes
Central Bank of Cyprus (CBC) governor Constantinos Herodotou on Friday stressed the need to maintain fiscal space in the midst of increased risks due to the war in Ukraine, something ...
€10 million for innovative Cyprus businesses
The Research and Innovation Foundation (Idek) on Friday announced that it will be allocating €10 million to innovative businesses as part of its DISRUPT programme, with the ultimate aim being to ...