#business

By Ioannis Tirkides Erdogan won a third term as Turkey’s president after soundly defeating his challenger Kemal Kilicdaroglu, in a run-off election on May 28, with 52.2 per cent of the ...

Uber (UBER.N) said this week that it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. The moves were “...

The general assembly of the European Underwater Federation (EUF) will take place in Cyprus between June 17 and June 19, according to a statement released this week. The event is being organised ...

Cyprus Airways and Aegean Airlines this week announced their plan to work together on codeshare flights, which will start on June 20, with the aim of improving connectivity and travel options ...

The hourly labour costs in Cyprus recorded a 5 per cent increase during the first quarter of 2023, compared to the corresponding quarter of the previous year, according to a report utilising ...

Tesco (TSCO.L), Britain’s biggest retailer, said the country’s food inflation was starting to ease, signalling some relief for squeezed shoppers and the wider economy as the group ...

Salamis Lines Ltd, a member of the Salamis Organisation, announced this week that it has acquired a new container ship named “IONIA”, which has subsequently been registered in the Cypriot ...

The Turkish central bank’s net forex reserves rose some $2.5 billion from a historic low to stand at $-3.17 billion as of June 9, data showed on Thursday, as Ankara loosened ...

Cyprus has been ranked in 18th place as an attractive investment destination National investment promotion agency, known as Invest Cyprus, chairman Evgenios Evgeniou showcased Cyprus’ ambitious investment strategy during a ...

The Bank of England looks set to raise interest rates by a quarter point to a 15-year high of 4.75 per cent on June 22, its 13th straight rate rise as it ...

Cyprus-based fintech firm Armenotech, alongside its international strategic partner, Tempo France, recently stated that EURO-pegged stablecoins have “the most promising and highest potential trajectory in the modern finance world”, with ...

Short video app TikTok, owned by China’s ByteDance, said on Thursday it would invest billions of dollars in Southeast Asia over the next few years, as it doubles down ...

In a positive turn of events for the Cypriot labour market, the overall vacancy rate among employees witnessed a decline in the first quarter of 2023, dropping to 2.8 per cent of ...

Qatar’s sovereign wealth fund is in talks with Egypt about potentially investing in seven historic hotels there, in what could be a landmark deal between the two countries that ...

Bedlam in Britain’s 1.5 trillion-pound ($1.9 trillion) mortgage market, fuelled by ructions in money markets, threatens to trigger a renewed slump in housing activity and financial pain for homeowners on a ...

Oil rebounded on Thursday after the previous day’s plunge, as data showed a jump in refinery runs at the world’s top crude importer China, though a weak economic ...

A hawkish message from the Federal Reserve amid a robust stock market rally is presenting investors with a conundrum: how to maintain exposure to rising equities while also guarding against ...

The European Institute of Innovation and Technology (EIT) and the Research and Innovation Foundation (Idek) this week co-organised an Info Day at the A.G. Leventis Gallery, where they unveiled ...

Russia’s No. 2 lender VTB (VTBR.MM) on Thursday said it would increase the number of countries to which retail clients can send money to 25 from 11, with India and Turkey ...

The European Central Bank is all but certain to raise borrowing costs to their highest level in 22 years on Thursday and leave the door open to more hikes, extending its ...

DataArt reiterated its commitment to Cyprus’ business community DataArt, a global software engineering firm recently marked its first year in Cyprus, an event which coincided with the opening of its ...

The Cyprus Association for the Protection of Borrowers (Syprodat) this week issued a statement welcoming President Christodoulides’ call to banks to follow proper loan restructuring procedures. The president’s comments ...

Shell (SHEL.L) will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence ...

Cyprus Deputy Minister of Tourism Kostas Koumis this week led a delegation on a visit to Dubai and Abu Dhabi with the purpose of assessing the tourism potential in these ...