Cyprus Business Now
The number of trips abroad made by residents of Cyprus in September 2022 was almost twice as much as last year, according to a report released this week by the Cyprus ...
Flurry of funds bet on bruised bitcoin’s allure
A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter.
Unfazed by a collapse in ...
Lockheed beats estimates on F-35 sales, maintains guidance
US weapons maker Lockheed Martin Corp (LMT.N) reported better-than-expected quarterly revenue on Tuesday, helped by higher sales in its aeronautics unit, which makes the F-35 fighter jet, as the ...
How Binance CEO and aides plotted to dodge regulators in US and UK
By Tom Wilson And Angus Berwick
As 2022 dawned, Changpeng Zhao was riding high. In less than five years, the founder and chief executive of Binance had turned his young company ...
Russia’s Aeroflot passenger numbers down 8.2 per cent year on year -Ifax
Russian flag carrier Aeroflot (AFLT.MM) saw its group passenger numbers drop 8.2 per cent year on year in the first nine months of 2022, Interfax reported on Tuesday, citing figures from ...
Cyprus energy authority chairman says hydrogen key to EU plans
Cyprus Energy Regulatory Authority (CERA) chairman Andreas Poullikkas on Tuesday said that the EU has for many years been devising a sustainable energy strategy to tackle climate change and strengthen ...
Oil prices rise on softer US dollar, supply woes
Oil prices climbed on Tuesday, bolstered by a weaker US dollar and supply woes, although gains were capped by the spectre of lower fuel demand from China as it persists ...
YouTube expands audio and podcast advertising for brands
Alphabet Inc’s (GOOGL.O) YouTube will expand ways for advertisers to reach music and podcast listeners and viewers on connected televisions, the company said on Monday.
The announcements come ...
Turkish cenbank raises securities maintenance ratio for forex deposits
The Turkish Central Bank said on Tuesday it raised the securities maintenance ratio required for foreign exchange deposits to 5 per cent from 3 per cent and that further steps as part ...
Cyprus Business Now
Cyprus’ Gross Domestic Product (GDP) was revised to €24.01 billion at current prices for 2021 and to €21.89 billion for 2020, according to a report released on Monday by the Cyprus Statistical Service (Cystat).
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British markets rally after huge U-turn on govt economic plans
Britain’s government bonds, currency and shares rallied on Monday as new finance minister Jeremy Hunt reversed swathes of Prime Minister Liz Truss’s economic growth plan, the latest twist ...
UK market fuels uptick in Cyprus tourist arrivals in September
Tourist arrivals in September 2022 increased by 21.9 per cent compared to last year’s corresponding period, with the majority of tourists being from the United Kingdom, according to a report released ...
Mexico’s non-bank lenders may now need bank licenses to survive
Mexico’s biggest non-bank lenders may need to become licensed banks, analysts said, as they maneuver through growing market turmoil to avoid the fate of three big peers who defaulted ...
Exxon’s Russian oil output collapsed after rejecting local tanker insurance
Oil output at the giant Exxon-led (XOM.N) Sakhalin-1 Russian Pacific project collapsed following the US major’s refusal to accept local insurance for tankers after Western insurers pulled out ...
Cyprus economy most threatened by prolonged price increases
Cyprus’ Economy and Competitiveness Council on Monday released a report illustrating that the prolonged and pronounced increase in consumer prices and inflation has been ranked by both public and private ...
Royal Caribbean’s Odyssey of the Seas arrives in Limassol
Limassol port management company DP World on Monday announced that on Thursday last week, October 13, it welcomed Royal Caribbean’s Odyssey of the Seas on her stopover at DP World ...
Cyprus GDP revised upwards, inflation to more than halve next year
The University of Cyprus’ Economics Research Centre (CypERC) on Monday released its updated economic outlook report, noting that real GDP growth in 2022 is projected at 4.9 per cent, up by 2 percentage ...
Oil climbs on China’s fuel demand recovery hopes
Oil prices rose on Monday after China rolled over liquidity measures to help its pandemic-hit economy, igniting hopes for a better fuel demand outlook from the world’s top crude ...
Scores of Google rivals want EU tech law used in antitrust case
More than 40 European rivals to Google’s shopping service urged EU antitrust regulators on Monday to use newly adopted tech rules to ensure the Alphabet unit complies with a 2017 EU ...
G7 fails to reach intervention deal to ease pain of soaring dollar
Japan and other countries facing the fallout from a soaring US dollar found little comfort from last week’s meetings of global finance officials, with no sign that joint intervention ...
Goldman plans major overhaul, to combine investment banking and trading
Goldman Sachs is planning a major reorganization as part of which its storied investment banking and trading businesses will be combined, while consumer banking will be absorbed by its wealth ...
OPEC+ members line up to endorse output cut after US coercion claim
OPEC+ member states lined up on Sunday to endorse a steep production cut agreed this month after the White House, stepping up a war of words with Riyadh, claimed Saudi ...
Some EU countries want billion-euro chip plan to also fund current chips
Some EU countries want the bloc’s billion-euro chip plan to fund the production of current cutting edge chips and not just first-of-its kind chips proposed by the European Commission, ...
EU leaders set to explore gas price cap options
European Union leaders meeting at the end of this week will explore a range of options for gas price caps, over which they have been divided for weeks, according to ...