Biden’s $1.9tn stimulus expected to drive job creation
US President-elect Joe Biden’s proposal to pour $1.9 trillion into a hobbled economy could lay the foundation for a surge in jobs and spending that many economists say is needed ...
UK traders find ways around Brexit
As there was almost nothing in the Brexit agreement on rules for UK financial services firms to operate in the European Union, UK traders are effectively cut off from operating ...
Turkish banks face near $30 billion in NPLs
Turkish banks’ asset quality is likely to weaken in 2021, with inflation high and a continuing dearth of foreign investment, Fitch Ratings says in a recent report.
Borrowers’ debt-servicing capacity will ...
Cyprus economy is in a whipsaw — Economist
Conditions in the Cyprus economy inched a bit higher in December, according to the Cyprus Composite Leading Economic Index which is designed to provide early-warning signals of economic changes. But ...
Saudi Crown Prince launches zero-car, zero-carbon city
Saudi Arabia’s crown prince unveiled plans on Sunday to build a zero-car. zero-carbon city at NEOM, the first major construction project for the $500 billion flagship business zone aimed at ...
Why bitcoin, now at $40,000, could reach $100,000 — analysts
The recent bitcoin rally has moved it back into the limelight once again. But there is far less heard about how it’s “unstable,” or “really has no value.”
On ...
Brexit can hit Cyprus food exporters to UK
Food producers in the EU and Europe have expressed alarm about the effect of certain terms in the Brexit deal reached at the end of last year.
Sainsbury’s has ...
China International Import Expo brings Cyprus to China
An interview with LI Yaohui, Economic and Commercial counselor at the embassy of the People’s Republic of China in Cyprus, about the world’s first import-themed exhibition, which brings ...
Oil tanker fleets to profit from increasing demand — Analysts
Rising demand for oil is expected to drive increases in tanker traffic in the coming year, analysts said.
Oil demand in the third quarter is estimated at 94 million barrels per ...
Africa Free Trade accord unites $3.4tn bloc
The African Continental Free Trade Area (AfCFTA), which came into force with the new year, is expected to break down barriers between 54 nations on the continent to create a new ...
Qatar trade embargo to be lifted
A breakthrough has been reached in Qatar’s three-year-old dispute with Saudi Arabia and three other Arab countries and an agreement aimed at ending their rift is to be signed ...
‘Astrobank will continue acquisition efforts’ — Chairman Shadi Karam
An interview with Astrobank chair of the board Shadi Karam
In less than five years, since AstroBank took over Piraeus Bank Cyprus in 2016, the bank has elevated its role as ...
Cyprus real estate: New ideas for NPLs and management
You can make a large single property easier to monetise by managing it through a fund, says Nicosia-based Resolute Asset Management – they didn’t invent the concept, but they’ve ...
Cure Covid-19? Israeli medtech firm claims it’s possible
The Tel Aviv-based medtech firm Novel Concepts Medical claims to have found a treatment that “cures” Covid-19, the firm told City A.M. on Friday
The “cure” was proven in ...
S&P 500, Nasdaq close at record highs, European stocks near record high, Oil down for year
Wall Street advanced on Thursday and the dollar gained ground as investors closed the book on a turbulent year of pandemic, recession and recovery.
The pan-European Stoxx 600 Index clawed back ...