Cyprus can benefit from soaring copper prices
Cyprus can take advantage of soaring copper prices, the result of pronounced shortages across the world, helping to increase supply through new projects on the island, according to Mark Rachovides, ...
Reaction: OPEC output cuts to roil markets
A surprise production cut by Saudi Arabia and other Middle East producers has caught the energy industry flat-footed and will lift global prices with little room for a coordinated response ...
Cyprus Business Now
Turnover in Cyprus’ retail trade sector rose during February 2022, both in terms of value and volume, according to a report released on Monday by the Cyprus Statistical Service (Cystat).
According ...
Mitsubishi UFJ to postpone AT1 bond issuance in Credit Suisse fallout
Mitsubishi UFJ Financial Group Inc (8306.T) will postpone the issuance of Additional Tier-1 (AT1) bonds to mid-May or later from late April, a spokesperson said on Monday, after the Swiss ...
Eurobank Cyprus receives international award for private banking
Eurobank Cyprus on Monday announced that it has been voted as the best bank for international private banking in Cyprus for 2023, an award bestowed upon the bank by Euromoney magazine ...
Cyprus regulator helps failed crypto exchange FTX investors
The Cyprus Securities and Exchange Commission on Monday released a statement responding to an announcement by failed cryptocurrency exchange FTX EU (Cyprus) saying that it will commence processes for the ...
Israel’s tech sector reels from SVB collapse, proposed judicial reform
After weathering recession and military conflicts, Israel’s high-tech sector could be facing its biggest test yet as the collapse of Silicon Valley Bank (SVB) removes a key funding source ...
OPEC+ announces surprise oil output cuts
Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move that analysts said would cause an ...
TechIsland appoints Wargaming general manager Valentinos Polykarpou as chairman
Non-profit organisation TechIsland recently announced that Wargaming general manager Valentinos Polykarpou has been appointed as its new chairman. The Cypriot executive is taking over at the island’s biggest IT ...
Japan edges closer toward issuing digital yen with plans for new panel
Japan is stepping up efforts toward issuing a digital yen with the creation of a government advisory panel and the launch of a pilot programme, joining a growing number of ...
UBS may cut up to a third of jobs after Credit Suisse takeover
The bank created by the UBS (UBSG.S) takeover of Credit Suisse (CSGN.S) is poised to reduce its workforce by 20-30 per cent, Swiss daily Tages-Anzeiger reported on Sunday, ...
Tesla’s price war: cheaper cars expected to drive record sales
Tesla Inc (TSLA.O) investors are waiting to see how much Elon Musk’s price cuts will pay off: the electric vehicle (EV) maker is expected this weekend to report ...
Banking crisis: Doing ‘whatever it takes’
By Maria Demertzis
The early March failure of Silicon Valley Bank (SVB) in the United States, and the sale of Credit Suisse to UBS in Switzerland are reminders of an ...
Car services groups warn of unfair competition as EU data plan stalls
Car services groups on Friday warned a stalled EU proposal to ensure fair access to valuable vehicle data could pave the way for unfair competition from US and Chinese tech ...
Norwegian wealth fund seeks Credit Suisse boardroom shake-up
Norges Bank Investment Management will vote against the re-election of Credit Suisse (CSGN.S) Chair Axel Lehmann and six other directors at the Swiss lender’s annual general meeting on ...
The people power being harnessed for cleaner and cheaper energy
As Europe weans itself off fossil fuels, local energy networks are tapping renewable sources to fill the gap and cut consumer bills.
By Andrew Dunne
They might look like ordinary ...
What’s better than OpenAI? Developers shop for alternatives
Microsoft-backed OpenAI is no longer the only game in town for software developers looking to capitalize on an expected $90 billion market for artificial intelligence.
Motivated by a wariness of relying ...
Synopsys spreads AI throughout its chip design tools
Synopsys Inc (SNPS.O) on Wednesday rolled out new artificial intelligence tools designed to get better results faster in the various stages of designing computing chips.
Synopsys makes software that ...
Cyprus Business Now
The average gross monthly earnings of employees in Cyprus is estimated to have reached €2,546 during the fourth quarter of 2022, according to a report released on Friday by the Cyprus Statistical ...
US regulator seeks sale of Silicon Valley Bank, Signature Bank portfolios
The Federal Deposit Insurance Corporation (FDIC) has retained advisers to sell the securities portfolios that the new owners of failed Silicon Valley Bank and Signature Bank rejected, according to people ...
UAE cancels licence for Russia’s sanctioned MTS Bank
The United Arab Emirates’ central bank on Friday said it will cancel the licence it granted last year to Russia’s MTS bank, which was placed under British and US ...
Britain’s digital banks need support amid banking turmoil
Britain’s digital banks will need support over the next few weeks and months to help them cope with the market fallout from the collapse of Silicon Valley Bank, a ...
Future for shock-absorbing bank debt uncertain in Credit Suisse aftermath
As the dust settles on a surprise move by Switzerland to write down $17 billion of bonds under Credit Suisse’s rescue, the market for debt designed as a shock absorber ...
In the background, Inditex heiress sets tone for Zara revamp
A year into chairing the world’s biggest fashion retailer, Marta Ortega is trying to shake up Zara owner Inditex’s fast-fashion image and draw in more aspirational shoppers, according ...