Bank of Cyprus successfully completes stress test
The Bank of Cyprus Group on Monday released a statement in which it confirmed that it has successfully completed the EU-wide stress test for 2023.
The announcement by the bank explained ...
Cyprus private debt surges to 218 per cent of GDP
Cyprus witnessed a significant surge in private debt during the first quarter of 2023, reaching a staggering 218 per cent of the country’s Gross Domestic Product (GDP), amounting to €60.1 billion, according ...
UK markets watchdog ready to pounce as new consumer power comes into force
Britain’s markets watchdog is ready from Monday to jump on any firm failing to adhere to a new duty to justify charges to customers in one of the regulator’...
Investors still see blue sky ahead for Europe travel stocks
European travel stocks stumbled into some profit-taking as earnings season kicked off and extreme weather hit in July, but many investors are betting relatively attractive valuations and solid demand will ...
Manchester United renews Adidas partnership in $1.1 bln 10-yr deal
Manchester United (MANU.N) on Monday renewed the soccer club’s partnership with official kit supplier Adidas (ADSGn.DE) for 10 more years and a minimum cash guarantee of 900 million pounds ($1.16 ...
Oil inventory drops set stage for higher prices
Oil inventories are beginning to fall in some regions as demand outpaces supply constrained by deep production cuts from OPEC leader Saudi Arabia, providing support for prices which are expected ...
Israel’s judicial reform turmoil threatens economic growth, investment
Israel’s economy may face ratings downgrades, falling foreign investment and a weaker tech sector if turmoil arising from the government’s contentious judicial reforms continues, investors and analysts warn.
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Coca-Cola raises annual forecasts as demand unaffected by price hikes
Coca-Cola Co (KO.N) raised its annual revenue and profit forecasts after beating quarterly results on the back of higher pricing, with demand for its sodas remaining resilient at a ...
Porsche’s iconic 911 to be sole survivor of automaker’s combustion models
Porsche (P911_p.DE) has a plan to gradually electrify its car lineup so that electric vehicles make up 80 per cent of sales by 2030, and it aims to make its ...
Puma sales beat estimates but US market drags
German sportswear brand Puma’s (PUMG.DE) second-quarter sales grew by 11 per cent, the company reported on Wednesday, slightly ahead of market expectations thanks to stronger revenues from Asia and ...
Nissan nearly doubles Q1 operating profit
Japan’s Nissan Motor (7201.T) on Wednesday posted a 98 per cent rise in first-quarter operating profit to 128.6 billion yen ($913.35 million), beating analysts’ estimates.
The result compared with an average estimate ...
Cyprus Business Now: weekly wrap-up
Cyprus’ Gross Domestic Product (GDP) growth rate and inflation rate are expected to reach 3 per cent, respectively, for 2023, consistent with the predictions made in May, according to a report released ...
Europe looks to virtual factories in new industrial revolution
EU manufacturers are increasingly embracing digital technologies to improve agility.
By Helen Massy-Beresford
A plant that makes electric shavers in the northern Dutch town of Drachten is gearing up for ...
Self-healing metal? It’s not just the stuff of science fiction
In the 1991 film “Terminator 2: Judgment Day,” a malevolent time-traveling and shape-shifting android called T-1000 that was made of liquid metal demonstrated a unique quality. Hit with blasts or bullets, its ...
Germany earmarks 20 billion euros in subsidies for chip industry
Germany plans to invest around 20 billion euros ($22.15 billion) in the semiconductor industry in the coming years, the economy ministry said on Tuesday, as it seeks to attract global chipmakers to ...
Cyprus banking system sees significant increase in deposits
Deposits in the Cypriot banking system experienced a notable surge in June, reaching a total of €52.3 billion, with liquidity, meaning the difference between deposits and loans, in the system amounting ...
Cypriot tech expert wants to empower young professionals
Properly training young Cypriot technology professionals is of vital importance, as they are necessary to help protect the digital assets of both public and private organisations on the island, according ...
Cyprus Business Now
The Central Bank of Cyprus on Friday announced that the reference interest rate for the purposes of usury has been set at 10.38 per cent for the period of July to ...
Big Tech looks to turn the corner on cloud as AI focus stays strong
US tech giants could signal an end to the nearly year-long slowdown in their cloud businesses as signs of economic resilience encourage clients to boost technology spending, while a pickup ...
Finance firm brings chess event to Cyprus
Freedom Holding Corp., in collaboration with the World Chess Federation (FIDE) and the Chess Federation of Kazakhstan, has announced the first World School Chess Tournament to be held in Kazakhstan, ...
Global central banks begin policy shift as inflation cools
Top central banks continued with another round of interest rate hikes this week despite cooling inflation, but have now switched to a more cautious posture about further moves in a ...
Cyprus government bonds worth €7.12 billion held in Eurosystem portfolio
The value of Cypriot government bonds held in the Eurosystem’s portfolio, through the Public Sector Purchase Programme (PSPP) and the Pandemic Emergency Purchase Programme (PEPP), has reached €7.12 billion and ...
Euro’s stellar run in doubt as ECB muddies rate outlook
Euro bulls are set for an anxious summer ahead as doubts creep in over how far the ostensibly still-hawkish European Central Bank will go with interest rate rises.
The euro ...
Bank of England set to raise rates to 5.25 per cent as high inflation persists
The Bank of England looks likely to raise rates by a quarter-point to 5.25 per cent on Aug. 3, though economists and markets see a risk of a repeat of June’s ...