#business

The most destructive wildfires ever for Los Angeles may cause billions of dollars in insured losses, ratings agencies said this week, though many homes are likely uninsured. The wildfires burning ...

By Michael Timothy Bennett & Elija Perrier A new artificial intelligence (AI) model has just achieved human-level results on a test designed to measure “general intelligence”. On December 20, OpenAI’s ...

British households’ expectations for inflation rose in December, according to a survey that may add to concerns among investors about the slow pace of future interest rate cuts by the ...

Demetra Holdings shareholders have approved a resolution to sell the company’s shares in Hellenic Bank to Eurobank, according to an official statement released on Friday. The statement, which was ...

Samsung Electronics’ (005930.KS) preliminary fourth-quarter operating profit missed estimates by a large margin, with the South Korean tech giant hit hard by extra costs as it works towards providing high-end ...

In a first, the EU General Court ruled this week that the European Commission must pay damages to a German citizen for failing to comply with its own data protection ...

Quantum computing stocks sank on January 8, pausing a year-long rally, after Nvidia (NVDA.O) CEO Jensen Huang said the technology’s practical use was likely two decades away. The long ...

Tesla (TSLA.O) said on Friday it was recalling about 239,000 vehicles over an issue that could cause the rear-view camera to not display an image, but it could be resolved ...

The value of bounced cheques in Cyprus saw a significant decline in 2024, dropping by €1.15 billion to €617,873. This compares to €1.77 million in 2023, according to figures released on Friday by the Central ...

Hermes Airports CEO Eleni Kaloyirou on Friday said that Cyprus needs to adapt to evolving travel trends and transportation demands, particularly as climate change and shifting traveller preferences reshape the ...

US investors pulled out of equity funds and moved to the safety of money market funds in the week to Jan. 8 driven by uncertainties about the Fed’s interest rate ...

Sterling continued its slide on Friday, its fourth day of falls, as elevated global bond yields kept the currency under pressure. The pound was down 0.17 per cent against the dollar ...

Demetra Holdings shareholders have approved a resolution to sell the company’s shares in Hellenic Bank to Eurobank, according to an official statement released on Friday. The statement, which was ...

Alexandros Iosifidis, a seasoned engineer with 30 years at the Cyprus Shipping Chamber (CSC), has been appointed its new director general, effective from April 1, 2025. He succeeds Thomas Kazakos, who is slated ...

Cyprus’ two international airports experienced record-breaking passenger traffic in 2024, according to the Transport Ministry. The Larnaca and Paphos airports combined saw a 5.6 per cent increase in traffice when compared to 2023, ...

Global auto suppliers are working out how much of their production can be moved to the United States, or closer to it, as a defense against tariffs promised by President-elect ...

Cyprus recorded the highest monthly increase in retail turnover among EU member states in November 2024, according to preliminary data released on Thursday by Eurostat. Retail turnover in Cyprus grew by 2.3 ...

Cyprus’s trade deficit fell by €769 million in the first 11 months of 2024, reaching €7.14 billion compared to €7.91 billion in the same period of 2023, according to preliminary data from the statistical service. ...

The Central Bank of Cyprus (CBC) announced this week that it has started to accept instant payments on behalf of itself and its clients, including certain government departments and state ...

Limassol’s mayors and business leaders convened this week to discuss their demands for increased state funding and a “sharper strategic focus” from the government. They argued that Limassol, a ...

Global energy major BP (BP.L) has pledged to lift oil production by 44 per cent and gas output by 89 per cent from India’s largest field off its west coast, ...

Oil producer Saudi Aramco (2222.SE) and Algeria’s Sonatrach lowered January’s official selling prices (OSPs) for liquefied petroleum gas (LPG) by between 1.6 per cent and 6 per cent from December ...

Beer deliveries in Cyprus grew by 1.8 per cent in 2024, reaching a total of 42.9 million litres, according to figures released on Thursday by the Cyprus Statistical Service (Cystat). Domestic beer deliveries ...

Rachel Reeves is facing her first major test as Britain’s finance minister after the government’s borrowing costs jumped sharply this week and the pound tumbled, potentially forcing her ...