#business

Cyprus’ annual inflation rate in May decreased to 3.01 per cent, continuing its downward trend for the seventh consecutive month, mainly driven by a deceleration in the prices of petroleum products. ...

OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance ...

Large US companies have been on a bond issuance binge but this rapid pace in supply may be hard to sustain ahead of expected volatility related to extending the US ...

Cyprus’ Gross Domestic Product (GDP) for the first quarter of the year amounted to €6.2 billion, marking a 3.4 per cent increase on an annual basis when measured in volume and adjusted ...

Eurozone inflation eased more than expected last month as underlying price growth also slowed, fuelling a debate about the need for further European Central Bank rate hikes beyond an increase ...

After months of negotiations, Finland’s Nokian Tyres (TYRES.HE) was on the cusp late last year of finalising a 400-million-euro ($440.32 million) sale of its Russian business. Then Moscow changed ...

Eurobank Cyprus this week said that its five-year support programme for non-profit organisation Cyprus Seeds, which aims to bolster the island’s entrepreneurial and innovation ecosystem, has borne fruit, with ...

Port management company DP World Limassol on Thursday released a statement announcing that Simon Pitout has been appointed as the company’s new chief executive officer, effective from June 1, 2023. The ...

Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign ...

CFA Society Cyprus and Central Bank Governor Constantinos Herodotou placed the issue of financial literacy at the centre of their discussion during a meeting held on Wednesday. According to a ...

Hundreds of Credit Suisse (CSGN.S)’s employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over by rival UBS (UBSG....

The US dollar rose strongly on Wednesday to a more than two-month high after data showed European inflation is cooling quicker than expected and China’s recovery is sputtering. The ...

A total of 1,929 apartments and 864 houses were sold during the previous year Cypriot firm Ask Wire on Wednesday released a report detailing real estate sales, including houses and apartments, in ...

In 2022, the unemployment rate of people aged 15-74 in Cyprus was 6.8 per cent, a little higher than the EU average (6.2 per cent), according to data released by Eurostat, the statistical ...

National flag carrier Cyprus Airways this week announced the launch of a new route between Larnaca and Preveza, which is set to begin on June 29 with two weekly flights. The ...

The euro zone’s top banks may take a hit if their financial clients, such as funds, insurers and clearing houses, withdrew their deposits or otherwise ran into trouble, the ...

The Turkish economy is in a difficult situation, with record levels of foreign currency sales to support the Turkish lira, which no longer accurately reflects the economy, according to professor ...

The Central Bank of Cyprus (CBC) on Tuesday reported that total deposits in April 2023 recorded a net decrease of €173.3 million, compared to a net increase of €59.8 million in March 2023. The ...

European University Cyprus on Tuesday announced that its school of medicine has joined the VERDI project, a “Horizon Europe” project that prioritises vulnerable populations, including pregnant women, children and other ...

Nvidia Corp (NVDA.O) is close to breaching $1 trillion in market capitalization, making it the first U.S. chipmaker to join the trillion-dollar club. The gaming and AI chip company, ...

Akel general secretary Stefanos Stefanou on Tuesday addressed the pressing issue of housing affordability in Limassol, noting that the city’s homeownership and rental costs are much more pronounced compared ...

Bitcoin prices on the Australian arm of Binance, the world’s largest crypto-currency exchange, were at a 20 per cent discount to rival exchanges on Tuesday, in a sign customers were ...

Oil fell by nearly 2 per cent on Tuesday as concerns about the US debt ceiling pact cooled the market’s risk-on sentiment and mixed messages from major producers clouded the ...

Artificial intelligence means everyone can now be a computer programmer as all they need to do is speak to the computer, Nvidia Corp (NVDA.O) CEO Jensen Huang said on ...