Cyprus Business Now
Cyprus’ trade deficit increased by 38.9 per cent between January and November 2022, reaching €6.8 billion compared to €4.9 billion in the corresponding period of 2021, according to a report released this week by the ...
How to afford the big price tag of your lifetime ‘bucket list’
Eytan Morgenstern is facing a very expensive dilemma.
The 36-year-old public relations professional has an opportunity to check something off his life ‘bucket list’: Seeing his favorite band, Metallica, play ...
Brent oil falls on fears of global economic slowdown
Brent oil fell on Tuesday as concern about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day’s gains, outweighing supply curbs.
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Resilient Russian banks lean inwards in pursuit of profit
Russian banks have rallied after an initial hit from last year’s Western sanctions against Moscow, with lenders now jostling for business from the state, particularly a burgeoning defence budget, ...
Russian rouble weakens ahead of Putin address to parliament
The rouble weakened on Tuesday despite increased demand for the currency ahead of month-end tax payments as President Vladimir Putin prepares to update Russia’s political and military elite on ...
Jaguar Land Rover opens three European self-driving tech hubs
Luxury carmaker Jaguar Land Rover said on Tuesday it is opening three new engineering hubs in Europe to develop autonomous vehicle technologies as part of its partnership with Silicon Valley ...
Chamber of Commerce praises Anastasiades for handling of economy
Cyprus successfully navigated three periods of serious calamity, outgoing president Nicos Anastasiades said on Monday, during an event held in his honour by the Cyprus Chamber of Commerce and Industry (...
EU calls for fast-track crypto capital rules for banks
Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s ...
Cyprus Business Now
Grant Thornton Cyprus, one of the leading tax and specialist advisory services firms on the island, on Monday announced that it has struck a deal that will result in increased ...
Britain’s Tesco raises store workers pay by 7 per cent
Tesco, Britain’s biggest retailer, will raise hourly pay for about 220,000 store workers by 7 per cent from April, another increase that will likely catch the attention of the Bank of ...
Ericsson to cut 1,400 jobs in Sweden
Telecoms gear maker Ericsson (ERICb.ST) plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday.
The company had ...
Bank of Cyprus posts €71 mln profit for 2022; lays foundation for dividends
The Bank of Cyprus on Monday released its preliminary financial results for 2022, posting a profit after tax of €71 million for the entire year, marking a considerable increase over the €30 million ...
Oil rises on China demand hopes, concerns on supply outlook
Oil prices rose on Monday amid optimism over China’s demand recovery, concerns that underinvestment will crimp future oil supply and as major producers keep output limits in place.
Brent ...
UK property asking prices show weakest February gain on record
Average asking prices for British residential property rose by just 14 pounds ($17) in February from January, the smallest rise on record for a month which normally sees a big seasonal increase, ...
Maersk nears complete Russia exit after selling logistics sites
Shipping and logistics group A.P. Moller-Maersk (MAERSKb.CO) has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, it said on Monday, nearly marking ...
Airbus’ defence arm says Berlin delaying exports worth billions
Slow German government export approvals are holding up Airbus Defence & Space (AIR.PA) defence exports worth several billions of euros, the company’s chief executive said on Sunday, urging ...
Hermes beats forecasts on robust growth in two key markets
Birkin bagmaker Hermes (HRMS.PA) said that wealthy Chinese clients snapped up its products in the fourth quarter even as the rest of the luxury sector took a hit from ...
UK consumers bought more in January but overall gloom persists
British consumers unexpectedly increased their shopping in January, but the big picture remains one of weak demand from inflation-hit households relying more on discounts at retailers to make ends meet.
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Britain’s Tesco to explore sale of banking unit
Britain’s biggest retailer Tesco Plc (TSCO.L) is planning to review its presence in the UK banking sector in a move that could lead to a sale of its ...
NBA Hall-of-Famer Pierce to pay $1.4 million over crypto promotion, SEC says
Former pro US basketball star Paul Pierce has agreed to pay more than $1.4 million to settle charges he illegally promoted digital assets, Wall Street’s top regulator said Friday.
The ...
Amazon asks employees to be in office at least three days a week
Amazon.com Inc (AMZN.O) would require employees to be in office at least three days a week from May 1, the e-commerce giant said on Friday.
The COVID-19 pandemic had ...
Government launches digital upgrade scheme for businesses
The Ministry of Energy, Commerce and Industry this week issued a call for proposals under its digital upgrade scheme for businesses.
The scheme is included in the Cyprus Recovery and ...
As Europe goes green, number crunchers map the ripple effects
The EU will soon be able to see more clearly the wider outcomes of its clean-energy drive.
A new tool will help predict numerous features of a low-carbon society. It ...
What’s known about Tesla’s “Project Highland”?
Tesla (TSLA.O) plans to slow production at its Shanghai plant in the last week of February to prepare for building a revamped version of its Model 3 sedan, according to ...