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 ...
China pledges to lift economy with stable employment, prices in H2
China will step up measures to boost demand and stabilise employment and prices in the second half of the year to optimise economic outcomes, the country’s finance ministry said ...
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), ...
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.
...
Cyprus Business Now
CarVal, an established global alternative investment manager, on Monday, increased its stake in the Bank of Cyprus to 9.07 per cent, up from the previous percentage of 8.57 per cent, through the ...
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 ...
Russia’s inflation will be 12-13 per cent in 2022, Kremlin aide says
Russia’s First Deputy Prime Minister Andrei Belousov said inflation will come in at 12-13 per cent in 2022, below earlier expectations, as the economy looks set to defy the gloomiest ...
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, ...
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 ...
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 ...
Dell ceases all Russian operations after August offices closure
Dell Technologies Inc. said on Saturday it had ceased all Russian operations after closing its offices in mid-August, the latest in a growing list of Western firms to exit Russia.
...
Japan’s Suzuki drives deeper into India with global R&D unit
Suzuki Motor Corp (7269.T) will set up a global research and development company in India, its president said on Sunday, pushing deeper into a market that is set to become ...
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 ...
Cyprus Business Now
The balance of deposits in Cyprus amounted to €51.2 billion, while the balance of loans to €28.6 billion in July 2022, registering a net decrease compared to June, according to a report published ...
A new era of monetary policy is just beginning
By Ioannis Tirkides
The current time and the next period for a number of years at least, will be more treacherous for monetary policy. This is because the era of ...
Cannabis fintech Bespoke to expand BNPL base in cash-starved industry
Fintech firm Bespoke Financial is looking to expand its ‘buy now pay later’ service for cannabis businesses in California and Massachusetts later this year, its Chief Executive George Mancheril said ...
Thai lender SCBX scraps $500 mln acquisition of crypto exchange Bitkub
Thailand’s oldest lender, SCBX Pcl (SCB.BK), said on Thursday it was pulling out of a $500 million deal to buy crypto exchange Bitkub, saying the start-up needed time to ...