Cyprus Business Now
During his speech at The Economist business conference on the Eastern Mediterranean held in New York this week, Constantinos Herodotou, the Governor of the Central Bank of Cyprus (CBC), emphasised ...
How the property crash unravelled Sweden’s SBB
For hundreds of thousands of ordinary Swedes, investing in one of their country’s biggest landlords SBB (SBBb.ST) was a sure bet for years. Now it is at the ...
Google’s AI chatbot, Bard, expands to Europe, Brazil, to take on ChatGPT
Alphabet (GOOGL.O) said it is rolling out its artificial- intelligence chatbot, Bard, in Europe and Brazil on Thursday, the product’s biggest expansion since its February launch and pitting ...
Global venture investments overview — June 2023 edition
A monthly guide to the world of venture investments news provided by the international angels community ICLUB
In the June edition of the News Digest, we talk about the picks ...
Stocks around 2023 highs as disinflation signal brings some relief
Global stocks traded around their highs for the year on Thursday as investors bet that the Federal Reserve was finally taming inflation and could end its rate hiking cycle as ...
Nvidia invests $50 million in Recursion to train AI models for drug discovery
Nvidia (NVDA.O) invested $50 million to speed up training of biotech firm Recursion’s (RXRX.O) artificial intelligence models for drug discovery, which the chip designer can then potentially license ...
Broadcom’s $61 billion VMware deal wins conditional EU antitrust OK
US chipmaker Broadcom (AVGO.O) secured EU antitrust approval on Wednesday for its $61 billion proposed acquisition of cloud computing firm VMware (VMW.N) after offering remedies to help rival Marvell ...
Fragile UK economy set to dodge recession for now
Britain’s economy shrank by less than expected in May despite a bank holiday to mark King Charles’ coronation and strikes, suggesting a widely forecast recession caused by high inflation ...
Invest Cyprus takes part in Economist Conference in New York
National investment promotion agency, commonly known as Invest Cyprus, on Thursday, announced that its vice chairman Spyros Vassiliou presented Cyprus’ investment attraction strategy at The Economist conference in New York.
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US airline stock valuations stuck on runway despite travel boom
Relentless travel demand has sent bookings at US carriers soaring, translating into bumper earnings. However, their shares have not shown the same trajectory as questions linger about the sustainability of ...
Cyprus property market feels impact of high interest rates and construction costs
The value of properties sold in Cyprus during the second quarter of 2023 reached €1.52 billion, with the market showing signs of being impacted by the increase in interest rates, soaring inflation, ...
Cyprus Business Now
Employment in the government decreased by 2 per cent in June, mainly driven by the transfer of hourly-paid personnel from the Ministry of Health to the State Health Services Organisation (OKYPY), ...
Cyprus Shipping Chamber welcomes greenhouse gas decision
The Cyprus Shipping Chamber (CSC) this week released a statement welcoming the decisions taken at the 80th meeting of the Marine Environment Protection Committee (MEPC80) regarding the revised Greenhouse Gas ...
Hedge funds grow more cautious on crypto after turmoil
Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector, a survey showed on Tuesday.
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Bank of England says Britain is coping with higher interest rates
Britain’s economy is so far proving resilient to a surge in interest rates over the past year and a half, but it will take time for the full impact ...
Cyprus trade deficit widens to €3.73 billion in first half of 2023
Cyprus’ trade deficit grew by €824 million in the first half of 2023, compared to the same period last year, reaching €3.73 billion, primarily due to a significant increase of 19.8 per cent in ...
Beer deliveries in Cyprus drop by 16.9 per cent in June 2023
Total beer deliveries in Cyprus experienced a significant decline of 16.9 per cent in June 2023, compared to June 2022, according to data released by the Statistical Service on Wednesday.
However, the increase ...
A wasted opportunity? Italy’s EU funds bonanza hits the rocks
Italy’s hopes of transforming its economy with billions of euros of European Union pandemic recovery funds are unravelling fast, businesses on the ground say, with inefficiencies at all levels ...
Countries agree to extend digital services tax freeze through 2024
With the exception of Canada, countries with digital services taxes have agreed to hold off applying them for at least another year as a global multinationals tax deal to replace ...
Zara owner boosts sustainability goals as fast-fashion feels the heat
Zara owner Inditex (ITX.MC) said on Tuesday it will look to recycling and sustainably farmed crops to reduce its environmental impact by 2030, as fast-fashion retailers face growing pressure to ...
US banking giants to report higher profits even as dealmaking drags
Wall Street banks are expected to report higher profits for the second quarter as rising interest payments offset a downturn in dealmaking.
For universal banks such as JPMorgan (JPM.N) ...
Cyprus plays major role in top-selling video game release
Kinx Gaming, an esports organisation headquartered in Nicosia, Cyprus, played a significant role in the successful launch of the AAA first-person shooter game, Atomic Heart.
The game was developed by ...
Cyprus Business Now
Vehicle registrations in Cyprus experienced a substantial increase of 24.4 per cent during the first half of 2023, compared to the corresponding period in 2022.
Additionally, registrations rose by 22.4 per cent in June 2023 ...
27 per cent of jobs at high risk from AI revolution, says OECD
More than a quarter of jobs in the OECD rely on skills that could be easily automated in the coming artificial intelligence revolution, and workers fear they could lose their ...