Egypt to develop new currency indicator to wean people off US dollar
Egypt will develop a new currency indicator partly to wean people off the idea that the Egyptian pound should be pegged to the US dollar, the new central bank governor ...
Airbus eyes Saudi deal for almost 40 A350 jets
Saudi Arabia is in advanced negotiations to order almost 40 A350 jets from Europe’s Airbus (AIR.PA) as part of strategic efforts to launch a new airline and challenge heavyweight ...
Toyota scrambles for EV reboot with eye on Tesla
Toyota (7203.T) is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing ...
Abu Dhabi fund ADQ invests $125 mln in female-led Aliph Capital
Abu Dhabi sovereign wealth fund ADQ has invested $125 million in the debut fund launched by Aliph Capital, the Middle East’s first female-led private equity firm.
The investment announced by ...
Oil prices drop as China demand data disappoints
Oil prices slid 2 per cent on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel ...
Euro zone October PMI adds to evidence bloc is heading for recession
The euro zone is likely entering a recession with business activity contracting at the fastest pace in nearly two years this month as the cost-of-living crisis keeps consumers cautious and ...
Israeli court gives green light to Lebanon maritime deal, signing seen on Thursday
Israel’s Supreme Court on Sunday rejected petitions that would have held up a landmark US-brokered deal setting a maritime border with Lebanon, which Washington predicted could be finalised on ...
Saudi forum set to draw US business leaders despite tensions
A public spat between the United States and Saudi Arabia will not deter top Wall Street executives and US business leaders from a flagship investment event starting on Tuesday where ...
US 2022 budget deficit halves to $1.375 trillion despite student loan costs
The US government on Friday reported that its fiscal 2022 budget deficit plunged by half from a year earlier to $1.375 trillion, due to fading COVID-19 relief spending and record revenues fueled ...
South Africa moves to regulate crypto assets
South Africa’s financial watchdog has classified cryptocurrency assets as financial products, a notice in the government gazette said on Wednesday, enabling them to be regulated.
In the brief notice, ...
German online bank N26 to launch crypto trading in Austria
German online bank N26 said on Thursday it would begin allowing some customers in Austria to trade cryptocurrencies, in its first foray into the asset class.
N26 said it would ...
Deutsche Bank investment bank job cuts to include staff in Britain -source
The dozens of staff to be cut at Deutsche Bank’s (DBKGn.DE) investment bank include staff based in Britain, a person with knowledge of the matter said on Friday.
...
US judge: Passengers in fatal Boeing 737 MAX crashes are ‘crime victims’
A US judge in Texas ruled on Friday that people killed in two Boeing (BA.N) 737 MAX crashes are legally considered “crime victims,” a designation that will determine what remedies ...
America’s new nuclear power industry has a Russian problem
US firms developing a new generation of small nuclear power plants to help cut carbon emissions have a big problem: only one company sells the fuel they need, and it’...
Flying car by California startup Alef attracts early Tesla investor
The concept of a flying car is not new – inventors have been trying to add wings to wheeled motor vehicles for decades, with only limited success.
Jim Dukhovny, founder of ...
As US Treasuries tumble, some investors say turning point is near
Some investors believe Treasury yields are close to peaking, even as markets continue pricing in more hawkishness from a Federal Reserve bent on taming the worst inflation in decades.
It’...
Brazil’s Nubank to introduce cryptocurrency as part of rewards programme
Brazil’s Nubank on Wednesday announced plans to release its own cryptocurrency as part of a new customer rewards programme.
Warren Buffett-backed Nubank said in a statement the Nucoin digital ...
Rating agency upgrades Cyprus, factors in EU membership benefits
International rating agency Capital Intelligence on Saturday announced that it has upgraded the long-term rating of Cyprus in foreign currency to “BBB-“, from “BB+”.
At the same time, the agency ...
Cyprus fiscal deficit hit €408 mln in 2021
Cyprus’ fiscal deficit reached €408 mln in 2021 and the fiscal debt corresponded to 101 per cent of GDP, the Cyprus Statistical Service (Cystat) announced on Friday.
Announcing the financial results for 2021, which ...
Cyprus commission chief warns investors of crypto risks
The Chairman of the Cyprus Securities and Exchange Commission (CySEC) George Theocharides this week released a missive on investor education on the risks of crypto asset investment in Cyprus.
Theocharides ...
Cyprus Business Now
The Association of Cyprus Tourist Enterprises (Stek) on Friday announced that it participated in a conference focusing on religious and pilgrimage tourism in Cyprus and Greece.
The conference, which took ...
The critical importance of chips – and having a plan for them
By Maria Demertzis
The increasing importance of semiconductors to economic growth has led governments in different parts of the world to provide subsidies to the sector. These are intended to ...
Exxon Mobil shares surge to record intraday high
Exxon Mobil Corp (XOM.N) shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top US oil producer’s ...
Oil steady as rate hike talk counters China demand hopes
Oil prices were little changed on Friday as optimism about a possible rise in demand in China faded and the market again weighed the impact of sharp interest rate rises ...