Musk’s bold goal of selling 20 million EVs could cost Tesla billions
Tesla Inc (TSLA.O) Chief Executive Elon Musk has set his young company on an aggressive expansion path like no other auto executive has dreamed – but one riddled with potholes ...
Rouble firms in early Moscow trade, Russian stocks hit 2-month high
The rouble firmed towards 60 against the dollar and euro in early Moscow trade on Tuesday, while higher oil prices helped push Russia’s benchmark stock index to its highest point ...
Cyprus Business Now
Total petroleum product sales in Cyprus experienced a slight drop in July, with sales from gas station pumps falling for the second month in a row, according to a report ...
Bleeding bitcoin’s holding out for a hero
Who can save bitcoin?
The world’s biggest cryptocurrency can’t seem to catch a break. It finally looked to be regaining strength this month, breaching $25,000 for the first time ...
Euro zone economic sentiment falls more than expected in August
Euro zone economic sentiment fell more than expected in August, data showed on Tuesday, dragged lower by a drop in optimism in industry and in services despite a better mood ...
Surging energy prices create perfect storm for UK bonds
British government bonds are on course for their biggest monthly fall since 1994, as surging energy prices create a perfect storm of higher inflation, tighter monetary policy and the prospect of ...
Oil edges down as inflation expected to impact fuel demand
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global ...
Honda Motor, LG Energy to build $4.4 bln US EV battery plant
Japan’s Honda Motor Co (7267.T) will build a new $4.4 billion lithium-ion battery plant for electric vehicles in the United States with Korean battery supplier LG Energy Solution Ltd (373220.KS), ...
Uncollected taxes in Cyprus estimated at €2 billion
A number of loopholes and weaknesses in how rules are enforced have resulted in the delay of millions of euros in taxes being collected, according to a report released this ...
Ericsson to wind down business activities in Russia over coming months
Ericsson (ERICb.ST) said on Monday it will gradually wind down business activities in Russia over the coming months as the Swedish telecoms equipment maker completes its obligations to customers.
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Tourism revenue exceeds €800 million in first half of the year
Tourism revenue reached €835.7 million in the first half of 2022, reflecting a significant increase compared to the corresponding period of 2021, according to a report released on Monday by the Cyprus Statistical ...
Pain of breaking inflation will reverberate around the globe
The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a ...
Biden’s student loan forgiveness may erase savings of climate, drugs law
President Joe Biden’s controversial plan to forgive up to $20,000 in student loans for tens of millions of Americans could erase the projected $300 billion deficit reduction that his hard-fought climate, ...
Influencers who are pioneering the world’s most important innovations
Pioneering innovators tend to share one common trait. They have a strong drive that pushes them towards seeing the state of things as they are in the present and how ...
Singapore says retail investors ‘irrationally oblivious’ to crypto risks, plans tougher rules
Singapore is planning to roll out new regulations that will make it more difficult for retail investors to trade cryptocurrencies at a time when they seem to be “irrationally oblivious” ...
Oil climbs on prospect of OPEC supply cut, demand growth
Oil prices rose 1 per cent on Monday, as expectations that OPEC would cut output if needed to support prices, coupled with conflict in Libya and rising demand amid soaring natural ...
Dollar hits 20-year high as Fed flags higher rates for longer
The US dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer ...
ECB policymakers make the case for a big rate hike
European Central Bank policymakers made the case on Saturday for a large interest rate hike next month as inflation remains uncomfortably high and the public may be losing trust in ...
Gulf stocks fall on tight monetary policy outlook
Major Gulf stock markets ended lower on Sunday as investors in the region reacted to comments by Federal Reserve Chair Jerome Powell signalling the US economy would need tight monetary ...
European computer segment affected by supply chain disruption
Computer shipments experienced a decline for the second quarter in a row at the end of the first half of the year, hindered by issues on both the demand and ...
Asset managers to offer fund tokens despite crypto turmoil
Investors in crypto have endured wild moves in recent months, but this has not fazed asset managers who are preparing to use the blockchain technology behind cryptocurrencies to break funds ...
Automakers accelerate drive to secure battery raw materials
Rising demand for electric vehicles (EV) around the world is encouraging automakers such as Tesla Inc (TSLA.O), Volkswagen (VOWG_p.DE) and Stellantis NV (STLA.MI) to step up ...
Jack Dorsey’s Block ends Afterpay smartphone tie-up with Australia’s Westpac
Afterpay, the Australian payments firm bought by Jack Dorsey’s Block Inc (SQ.N), and Australia’s Westpac Banking Corp (WBC.AX) ended a partnership after the firm cancelled a ...
Long-established industries that have shaped the island’s business landscape
Cyprus has always exhibited tremendous resilience throughout its short history as an independent country to bounce back from catastrophic events and external shocks. To achieve this feat, it has had ...