Why are UK energy bills for consumers still rising?
British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but this will offer little relief to consumers as energy costs continue to rise.
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Tesla’s German plant hits 4,000 cars per week ahead of schedule
Tesla’s (TSLA.O) German plant in Brandenburg near Berlin is now producing 4,000 cars per week, the company said on Monday, quadrupling from May when Chief Executive Elon Musk had ...
As chatbots boom, Nvidia sales outlook beats Wall Street expectations
Chip designer Nvidia Corp (NVDA.O) forecast first-quarter revenue above Wall Street estimates on Wednesday as its CEO said use of its chips to power artificial intelligence (AI) services like ...
Electric cars dangle the promise of earning money for their drivers
Needed to clean up road transport, battery-powered vehicles might also act as stored energy that the car owners could sell to electricity networks.
By Helen Massy-beresford
While drivers considering an ...
IMF lays out crypto action plan, recommends against legal tender status
The International Monetary Fund has laid out a nine-point action plan for how countries should treat crypto assets, with point number one a plea not to give cryptocurrencies such as ...
Survival in the digital economy requires holistic approach
Businesses and organisations must adopt a holistic approach and utilise all of the tools at their disposal, if they wish to remain competitive, according to a number of experienced industry ...
Boom in European bank earnings hints at a rally with legs
Financials earnings growth rate surges almost 45 per cent
STOXX banks climbs to 5-year high
UniCredit shares up a whopping 35 per cent YTD
HSBC, SocGen express caution
Europe’s banks, which ...
Stablecoin regulatory crackdown sends warning to industry
The US Security and Exchange Commission’s warning shot on Binance’s stablecoin over whether or not it is a security could offer a hint at what type of dollar-pegged ...
Meta loses bid to toss $175 mln verdict in streaming patent case
A federal judge in Austin, Texas on Tuesday rejected a request by Meta Platforms Inc’s (META.O) to throw out a $175 million jury patent verdict for walkie-talkie app maker ...
President called to appoint experienced tourism minister
CIMA: ‘new minister should focus on seasonality, connectivity and marketing’
The Cyprus Incentives and Meetings Associates (CIMA) has called for president-elect Nicos Christodoulides to carefully consider his appointment of a ...
Cyprus government debt drops to €23 billion
Cyprus’ government debt fell to €23 billion at the end of 2022, reflecting a 3.9 per cent decrease compared to December 2021, according to a report published on Friday by the Public Debt Management ...
Cyprus Business Now
The head of the Cyprus association of entertainment venues (Osika) Neophytos Thrasyvoulou on Friday said that high costs and struggles with finding staff continue to be the main issues facing ...
War and escalation in 2022-2023: economic and political ramifications
By Ioannis Tirkides
The war in Ukraine is a cataclysmic event in both economic and political terms. It signals the return of great power politics; it marks the weaponization of ...
Mercedes-Benz cars to have ‘supercomputers’, unveils Google partnership
Mercedes-Benz (MBGn.DE) said on Wednesday it has teamed up with Google (GOOGL.O) on navigation and will offer “super computer-like performance” in every car with automated driving sensors as ...
Turkish foreign visitor arrivals leap 56.5 per cent in January
The number of foreign visitors arriving in Turkey jumped 56.51 per cent from a year earlier to 2 million in January, tourism ministry data showed on Friday.
The arrivals compared with 1.28 million ...
Turkish central bank cut rates by 50 bps after earthquake
Turkey’s central bank cut its main interest rate to 8.5 per cent from 9 per cent on Thursday, moving to cushion the economic impact of a devastating earthquake that killed more ...
European thirst for tequila aggravates agave crunch
He can’t pour tequila fast enough. Premium shots. Margaritas. Palomas. The occasional sunrise.
“We definitely run out every weekend,” says Shubham Walavalker, a 24-year-old bartender, who’s struggling to ...
Oil up on possible Russia cuts; inventories remain high
Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States.
Brent crude futures rose 66 cents, ...
Lebanon central bank governor faces new fraud, embezzlement charges
Lebanese authorities charged longtime central bank governor Riad Salameh, his brother Raja and one of his assistants on Thursday with money laundering, embezzlement and illicit enrichment after months of delay ...
German economy shrinks 0.4 per cent in fourth quarter, weak start to 2023 seen
The German economy contracted more strongly than expected in the final three months of 2022, as inflation and the energy crisis took their toll on household consumption and capital investment.
The ...
Cypriots among top three social media users in Europe
Cyprus has been ranked as one of the most social media-obsessed countries in Europe, according to a recently published study by gaming site AskGamblers.
According to the site, the study ...
EIB: €250 mln allocated to projects in Cyprus
The European Investment Bank (EIB) this week announced that new financing agreements signed in Cyprus for the year 2022 amounted to €250 million, with all of them relating to green projects.
In 2022, ...
Cyprus Business Now
Cyprus’ tourism revenue for the period between January and December 2022 is estimated to have amounted to €2.43 billion, according to a report released this week by the Cyprus Statistical Service (Cystat).
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Bankman-Fried, others made more than 300 illegal political donations
Sam Bankman-Fried and his co-conspirators made more than 300 illegal political donations in the United States, according to a new indictment against the FTX cryptocurrency exchange founder unsealed on Thursday in ...