European bank stocks plunge again as SVB market turmoil continues
Bank shares in Europe and Asia plunged on Monday as the collapse of startup-focused Silicon Valley Bank continued to batter markets, while US large banks failed to hold onto a ...
Experts flag moral hazard risk as US intervenes in SVB crisis
US regulators may have stemmed a banking crisis by guaranteeing deposits of collapsed Silicon Valley Bank (SVB), but some experts warn that the move has encouraged bad investor behaviour.
Following ...
Bank rescue buys stability at a high price
The biggest US banks are so tied up in regulatory red tape that they couldn’t cause a crisis if they tried. The 16th largest, though? That’s a different ...
Tech execs race to save startups from ‘extinction’ after SVB collapse
Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank (SIVB.O).
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Silicon Valley Bank’s fall widens systemic cracks as cheap money vanishes
Cracks are appearing in the global financial system as the decade-long era of cheap money ends, with some investors worrying the shock collapse of Silicon Valley Bank signals world markets ...
US weighs new fund to backstop deposits if more banks fail
The US Federal Reserve and the Federal Deposit Insurance Corp are weighing the creation of a fund that would allow regulators to backstop more deposits at banks that run into ...
UK races to minimise damage from Silicon Valley Bank collapse
British finance minister Jeremy Hunt said on Sunday he was working with Prime Minister Rishi Sunak and Bank of England Governor Andrew Bailey to “avoid or minimise damage” resulting from ...
Saudi Aramco reports record profit of $161.1 billion in 2022
By Hadeel Al Sayegh and Maha El Dahan
Saudi Arabian oil giant Aramco 2222.SE on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46% from the year earlier, ...
Rice into low-carbon plastic: bringing hope to a struggling Fukushima town
Jinichi Abe grins as he watches diggers working earth near his rice fields, knowing they are returning still more fields to productivity after Fukushima nuclear reactors exploded and sprayed the ...
Breeders of new fish hope to tickle taste buds of salmon, cod and tuna lovers
Fish farming can make food supplies more stable while itself becoming more sustainable, according to researchers in Hungary and Norway.
By Pieter Devuyst
Attention seafood lovers! Gabor Hetyey strongly recommends ...
Nissan to overhaul electric powertrains for EVs, hybrids in search of cost cuts
Nissan on Thursday said it will overhaul its approach to powertrains for all-electric and hybrid petrol-electric vehicles as it aims to bring hybrid prices in line with those of petrol-powered ...
More than 200,000 German tourists expected in 2023
Germany is shaping up to be an important source of tourism for Cyprus, with more than 200,000 visitors expected in 2023, according to recently-appointed Deputy Minister of Tourism Costas Koumis.
Koumis visited ...
Cyprus Business Now
Hellenic Bank this week announced that it has issued a new €200 million Tier 2 Subordinated bond under the EMTN Programme.
According to the announcement, the bond was issued at its nominal ...
EU gender balance on company boards
By Charles Ellinas
On the occasion of this year’s International Women’s Day on 8 March, the results of a study by BNP Paribas published on 6 March shows that the ...
Silvergate’s planned liquidation fuels another crypto rout
Silvergate Capital Corp (SI.N), one of the biggest banks in the cryptocurrency industry, said on Wednesday it was planning to wind down operations and liquidate voluntarily.
MARKET REACTION:
Shares ...
TechIsland joins JASS software development initiative
Non-profit organisation TechIsland this week announced a partnership with an annual international educational initiative for project-driven software development.
TechIsland is becoming the ecosystem partner of Joint Advanced Student School(JASS), ...
Deputy Minister of Research & Innovation meets with various ambassadors
The new Deputy Minister of Research, Innovation and Digital Policy has started to meet with various key stakeholders, including the ambassadors of Japan, Estonia and Greece.
The Deputy Minister also ...
Silicon Valley Bank scrambles to reassure clients after 60 per cent stock wipe-out
SVB Financial Group (SIVB.O) scrambled on Thursday to reassure its venture capital clients their money was safe after a capital raise led to its stock collapsing 60 per cent and ...
German heating can’t be made 100 per cent electric, suppliers say
German heating system suppliers said they can roll out electric heat pumps to households on a large scale to replace oil and gas boilers and protect the climate, but lawmakers ...
Britain’s early retired resist calls to work, despite higher living costs
In their fifties and deciding there was more to life than work, Liz and Ian Woodbridge quit stressful jobs during the pandemic – part of a cohort of British early retirees ...
Bayer plans to spend $1 bln on US pharma R&D in 2023-US pharma head
Bayer AG (BAYGn.DE) plans to spend $1 billion on drug research and development in the US this year as it works to double its sales in the country by the ...
Indoor air quality can impact staff happiness and business costs
The Cyprus University of Technology (Tepak) this week announced its participation in the SIEQUA-CERT project, which focuses on indoor environment quality, something which can affect employee satisfaction and have an ...
Cyprus Business Now
The Cyprus Chamber of Commerce and Industry (Keve) on Thursday announced a new initiative to reduce its carbon footprint and further promote the green transition to the local business community.
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Crypto stocks slide after Silvergate decides to shut down
Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp (SI.N) disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX’s implosion last ...