Cyprus Business Now
The Association of Cyprus Tourist Enterprises (Stek) and the regional administration of the island of Crete this week announced that they are set to hold an initiative under the banner ...
Kohl’s beats profit estimates on cost cuts, leaner inventory
Kohl’s Corp (KSS.N) beat estimates for quarterly profit on Wednesday, as leaner inventories, lower costs and fewer discounts helped the department store chain counter a broader retail slowdown.
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How Russia keeps its fleet of Western jets in the air
A Ural Airlines Airbus landed in the Russian city of Yekaterinburg on Nov. 14 last year. Then it remained grounded on the tarmac.
Three days later, a spare part crucial for ...
UK’s handling of Microsoft deal sows doubts over post-Brexit direction
The long-running battle between Microsoft (MSFT.O) and Britain over the Activision Blizzard (ATVI.O) deal took another twist on Tuesday, raising more questions than answers about the country’s ...
Investors look to AI-darling Nvidia’s earnings as US stocks rally wobbles
Bullish investors are hoping Wednesday’s earnings report from chip heavyweight Nvidia (NVDA.O) can rejuvenate a US stocks rally that has stumbled in recent weeks.
Nvidia shares have tripled ...
Oil ticks up as markets weigh rate hikes
Oil prices ticked up in Asian trade on Wednesday, as traders weighed weak demand indicators from top importer China and the prospect of further US rate hikes against potential supply ...
Blood and billions: the cost of Russia’s war in Ukraine
Russia’s invasion of Ukraine has left tens of thousands of dead, displaced millions and sown economic turmoil across the world in the 18 months since its launch on Feb. 24, 2022.
Here ...
Britain’s CEOs get 16% pay rise even as workers struggle
The bosses of Britain’s biggest companies saw their pay jump 16% in 2022, sending their average earnings to 118 times the median UK full-time worker’s while employees struggled with soaring inflation, ...
Turkish central bank to hike policy to 20%, claims poll
Turkey’s central bank is expected to raise its policy rate to 20% this week, a Reuters poll showed, though some economists expect a smaller increase after hikes in previous months ...
How airlines cope with price surge during disasters
Canadians vented their frustration against airlines on social media last week after prices of commercial flights out of Yellowknife soared up to 10-fold above normal just as residents were ordered ...
The Landmark Nicosia: a new luxury way of living and working
The Cyprus Mail recently sat down with MHV CEO Charis Michael, delving into the finer details of the company’s impressive work on the Landmark Nicosia project, which promises to ...
Lenovo first quarter revenue misses forecasts, hit by poor PC demand
China’s Lenovo Group (0992.HK) on Thursday posted a worse-than-expected 24 per cent fall in revenue for the April-June quarter, hit by a prolonged slump in global demand for personal computers.
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Accelerating US economy sideswipes markets
A look at the day ahead in US and global markets from Mike Dolan
Far from the recession forecasts of earlier this year, US economic growth may actually be accelerating ...
Russia could reintroduce compulsory sale of FX revenues ‘at any moment’
Russian authorities are discussing bringing back the compulsory sale of foreign currency revenues for exporters, five sources familiar with the matter told Reuters, with one high-level source saying that the ...
Carlsberg in the dark over Russian business after shock seizure
Carlsberg CARLb.CO was “shocked” by Russia’s seizure of its business in the country last month and the brewer is no closer to knowing what might happen next, its ...
Airlines, hotels branch out with experiences to lure travelers
Casino operator MGM Resorts International MGM.N is finding Formula One’s inaugural stop in Las Vegas is as much of a draw as its slot machines this year, and ...
Disney creates task force to explore AI and cut costs
Walt Disney (DIS.N) has created a task force to study artificial intelligence and how it can be applied across the entertainment conglomerate, even as Hollywood writers and actors battle ...
Sony first quarter profit tumbles as movie business disappoints
Japan’s Sony (6758.T) this week said first-quarter profit tumbled due to weaker performances from its movies and financial businesses.
In April-June, operating profit slid 31 per cent to 253 billion yen ($1.8 ...
Nigerian producer pumps out AI-powered Afrobeats
When artificial intelligence (AI) apps started spreading in Nigeria’s music industry, Eclipse Nkasi thought his days as a producer were numbered.
Then he took a step back, saw there ...
Bulging warehouses mean lean times for longer for US, European companies
Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand ...
Israel’s El Al in talks to buy Airbus jets in potentially historic shift
El Al Israel Airlines ELAL.TA is in “serious” talks with planemaker Airbus AIR.PA to buy as many as 30 A321neo jets, El Al’s CEO said on Thursday, ...
‘BRICS bank’ looks to local currencies as Russia sanctions bite
Hobbled by the impact of sanctions against founding shareholder Russia, the New Development Bank (NDB) set up by the BRICS countries needs to increase its local currency fundraising and lending, ...
Rising prices for travel do not appear to be curbing wanderlust
The post-pandemic travel boom and the high ticket prices that come with it show no signs of slowing well into next year, despite economic uncertainty and dwindling household savings.
While ...
Why Germany’s property sector is in the dumps
Germany has long benefited from an era of cheap money that fuelled a decade-long boom in real estate, but now the sector is grappling with a major turn of fortune.
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