Cyprus Business Now
A Cyprus Chamber of Commerce and Industry (Keve) delegation this week met with the Cyprus-Greece Business Association and the Institute of Certified Public Accountants of Cyprus (Selk) in Athens, where ...
Russia aiming to fly solo without Airbus and Boeing
Russia’s aviation industry will aim to go it alone without the West, using locally built parts to produce 1,000 airliners by 2030 and end a reliance on Boeing (BA.N) and ...
Hellenic Bank has become leaner and more efficient – CEO
Hellenic Bank CEO Oliver Gatzke on Wednesday said that since first being appointed to the role 15 months ago, the bank has evolved into an organisation with a leaner management structure, ...
Sterling slides after BoE buys bonds, dollar hits 20-year high
Sterling tumbled against the dollar on Wednesday before paring some losses after the Bank of England (BOE) said it would step in to prop up the gilt market, and the ...
Dollar sweeps to 20-year high, sterling on the ropes again
Nervous financial markets propelled the safe-haven dollar to a fresh two-decade peak on Wednesday as rising global interest rates fed recession worries, while sterling languished near all-time lows on fears ...
Oil prices slip as dollar scales new peak
Oil prices fell more 1 per cent on Wednesday, pressured by a strengthening dollar and crude storage builds that offset support from US production cuts caused by Hurricane Ian.
Brent crude ...
Egypt’s import squeeze hobbles economy as dollars run short
Christeen Aiad from eastern Cairo had been hoping to buy a small automatic car this year, but rules preventing importers trading in scarce dollars put paid to that and she ...
Cyprus businesses mostly unhappy with government support measures
One in ten Cypriot businesses said that they consider the government’s support measures to have helped, while two in ten businesses consider that they have helped to an adequate ...
Cyprus Business Now
There was a net increase of €173.7 million in total deposits and a net decrease of €100 million in total loans in August 2022, according to a report released on Tuesday by the ...
The Dow is in a bear market. What does that mean?
The Dow Jones Industrial Average, the oldest of Wall Street’s three main stock indexes, dropped 1.1 per cent on Monday, extending the decline from its January peak to more than 20 ...
Cryptoverse: Bitcoin miners get stuck in a bear pit
Spare a thought for the beleaguered bitcoin miner.
In late 2021, miners were the toast of the town with a surefire path to profit: hook powerful computers up to cheap power, ...
Pummelled pound faces long road back as investor confidence shredded
Sterling’s slide to record lows leaves it staring at parity with the dollar. Whether or not it hits the symbolic level, investors say Britain’s new government has dealt ...
Lone Star will not submit new bid for Bank of Cyprus (updated)
Private equity firm Lone Star, in a statement issued on Tuesday to the London Stock Exchange, said that it is not intending to submit a revised offer for the acquisition ...
Oil rises as focus turns to possible supply cuts
Oil prices rose more than 1 per cent on Tuesday, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a ...
Reversing UK confidence crash requires policy U-turn: economists
Rock-bottom investor confidence in Britain will only recover with a U-turn of the economic plan announced last week by finance minister Kwasi Kwarteng, US economist Larry Summers and J.P. ...
Cyprus tourism should always be assessed and improved
The Association of Cyprus Tourist Enterprises (Stek) on Monday said that ‘rethinking tourism’, the key theme of this year’s World Tourism Day, highlights the importance of the continuous improvement ...
A history of UK currency crises and crashes
Britain’s pound plunged to an all-time low early on Monday as international investors reacted to plans laid out by the country’s new prime minister and finance minister to ...
Cyprus ranked 29th in retirement security
Investment management company Natixis has ranked Cyprus in 29th place in its global retirement index for 2022, with a total score of 62 per cent.
“The Global Retirement Index (GRI) is a ...
Cyprus Business Now
Cypriot company Louis Plc this week announced that it has recorded a significant improvement in its operational revenue during the first half of 2022, reaching €32.5 million during this time, compared to €6.2 ...
Group of countries to push EU for gas price cap
A group of European Union countries want to push Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a draft letter seen ...
With eye on Big Tech, energy crisis, EU telcos call for shared network costs
Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and 13 other European telecoms providers on Monday made their strongest push for Big Tech to share network costs, citing the ...
Economy and Competitiveness Council presents long-term strategy ‘Vision 2035’ to MPs
“Cyprus should be one of the best places in the world to live, work and be active” is the vision on the basis of which the Cyprus Economy and Competitiveness ...
Energy, inflation crises risk pushing big economies into recession, OECD says
Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into ...
Companies potentially affected by Italy’s election
A right-wing alliance led by Giorgia Meloni’s Brothers of Italy party looks set to win a clear majority in the next parliament, exit polls said on Sunday after voting ...