Cyprus Business Now
Total deposits in Cyprus recorded a net increase of €357.1 million in February 2023, compared to the previous month, with their balance amounting to €51.9 billion, according to a report released this week ...
European Innovation Council event to be held in Cyprus
The Research and Innovation Foundation (RIF) this week announced that it will be holding an information event entitled “European Innovation Council Info Days” between April 4-5 2023. The event will take ...
BYD posts 11-fold jump in Q4 profit
Chinese electric vehicle giant BYD Co Ltd (002594.SZ) reported an 11-fold increase in fourth-quarter profit as it extended its lead in the domestic market with a wide range of products.
...
Housing market in tech hubs cooling faster than other parts of US
Housing markets in tech hubs are cooling more rapidly than other parts of the United States amid a wave of layoffs in the technology sector and elevated mortgage rates, according ...
Nvidia shows new research on using AI to improve chip designs
Nvidia Corp (NVDA.O), the world’s leading designer of computer chips used in creating artificial intelligence, on Monday showed new research that explains how AI can be used to ...
French prosecutors search banks over alleged dividend stripping
French authorities on Tuesday searched the Paris offices of five banks, including Societe Generale (SOGN.PA), BNP Paribas (BNPP.PA) and HSBC (HSBA.L), on suspicion of fiscal fraud, part ...
Russia says it has rerouted all oil exports hit by Western embargo
Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to “friendly” countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in ...
Cyprus Business Now
The Republic of Cyprus is looking for investors to issue a sustainable bond, the Financial Director of the Public Debt Management Office, Phaidonas Kalozois, said this week.
Kalozois had been ...
Banking rebound remains fragile as regulators review response to failures
Investor confidence in the banking sector remained fragile on Tuesday, with the European Central Bank (ECB) saying recent volatility highlighted the need for greater regulatory scrutiny.
European bank stocks (.SX7...
German regulator launches antitrust review of Microsoft
Germany’s antitrust regulator is reviewing Microsoft’s (MSFT.O) market power in a move that could lead to an investigation of the US tech giant’s business practices and ...
EU reaches deal on service stations for EVs, alternative fuels
The European Union on Tuesday reached a provisional deal on the deployment of more service stations for cars running on electricity and alternative fuels as the bloc seeks to reduce ...
Binance responds to US Commodity Futures Trading Commission
Crypto exchange Binance on Tuesday issued a statement responding to the US Commodity Futures Trading Commission (CFTC), after the latter party sued the exchange for allegedly “operating an illegal exchange ...
Buoyant bitcoin’s losing its liquidity
Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger ...
The $15 billion scramble for Japan’s Toshiba went from bang to whimper
Toshiba Corp’s (6502.T) auction was supposed to ignite a race for top-dollar bids among global private equity firms. Instead, it brought months of uncertainty and a solitary, scaled-back offer ...
After SVB sale, White House says banking system is ‘safe’
The White House said on Monday that the US banking system is safe despite stress on some institutions after two American banks collapsed, ratcheting up fears of a contagion that ...
US banking concerns shift from crisis to growth woes
After the collapse of two US banks and record outflows from smaller lenders, the banking industry is shifting its concern from an immediate crisis to a medium-term worry: economic growth.
...
US regulator sues top crypto exchange Binance, CEO for ‘willful evasion’
The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the US Commodity Futures Trading Commission (CFTC) on Monday for operating what the ...
Companies pay up to $500,000 for sustainability ratings
Companies are spending up to half a million dollars a year on a sustainability rating to meet investor demands for such data, yet are often dissatisfied with the results, new ...
Turmoil in the financial sector and Cypriot banks
By Ioannis Tirkides
Surely the collapse of Silicon Valley and Signature banks in the United States, and even the takeover of Credit Suisse by UBS, have idiosyncratic elements that led ...
Billionaire Ambani adopts familiar playbook in India cola battle vs Coke, Pepsi
Indian industrial giant Reliance is reviving a historic local cola brand with plans to use its vast retail network, slash prices and tap nationalist sentiment to challenge US beverage giants ...
Companies would have to offer repairs for worn-out products for up to 10 years under proposed EU rules
The European Union wants to give consumers the right to have worn-out products like washing machines and televisions repaired by producers even after the sales guarantee has expired, to cut ...
S.Korea’s LGES revives Arizona battery factory with $5.6 bln investment
South Korea’s LG Energy Solution Ltd (LGES) (373220.KS) said on Friday it would resume a stalled US battery project with a $5.6 billion investment in Arizona to qualify for federal ...
Ships harness wind for voyage to a cleaner future
New sails and boat designs are set to help shipowners slash fuel costs and emissions.
By Gareth Willmer
There is no mistaking Cristina Aleixendri’s enthusiasm – and competence – when it ...
As AI booms, EU lawmakers wrangle over new rules
Rapid technological advances such as the ChatGPT generative artificial intelligence (AI) app are complicating efforts by European Union lawmakers to agree on landmark AI laws, sources with direct knowledge of ...