UK economy takes worst hit in 300 years — ONS
UK economic output fell 9.9 per cent in 2020, the largest drop in 300 years and more than twice the fall during the financial crisis, according to data released by the UK Office ...
Draghi must restart Italian economy — the most sluggish in the euro-zone
Italy’s prime minister-designate Mario Draghi will struggle to restart the Italian economy, the most chronically sluggish in the euro zone. This will be his top priority, but he will ...
EU warns Britain: Don’t expect equivalence for financial services anytime soon
The European Union will strive for close co-operation with Britain on financial services but London cannot expect “equivalence-based” access to the EU financial market if it diverges widely on rules, ...
Bitcoin soars to record €39,000 after BNY Mellon announces crypto venture
After long being shunned by traditional financial firms, bitcoin has finally entered the mainstream.
Bitcoin on Thursday jumped to a fresh all-time high after BNY Mellon said it formed a ...
EU, Cyprus economies suffer a winter of discontent
Cyprus will see economic growth at the same, relatively low rate of most EU Member States in 2021. There is, however, “light at the end of the tunnel,” according to an ...
Amsterdam surpasses post-Brexit London as Europe’s largest share trading centre — FT
Amsterdam surpassed London as Europe’s largest share trading centre last month, the Financial Times reported on Wednesday.
The Netherlands scooped up business lost by the UK since Brexit. An ...
Why and how a ‘bad bank’ could work in Cyprus
There is no reason why a bad bank would not work in Cyprus, as it has in many other countries. It all depends, experts say, on how it is managed.
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Jet2.com cancels all trips until after Easter
Jet2 will not fly until well after the Easter holidays, the company said in a statement on Tuesday.
“Due to the ongoing uncertainty and travel restrictions caused by the Covid-19 ...
Hellenic Bank announces resignation of board member and CFO Lars Kramer
Hellenic Bank on Wednesday announced the resignation of Lars Kramer from the position of Executive Member of the Board of Directors.
Kramer is to remain as Chief Financial Officer of ...
Cyprus Foreign Direct Investment down 96% across first 3 quarters of 2020
Inflows of Foreign Direct Investment (FDI) in Cyprus during the first three quarters of 2020 were down a staggering 96 per cent compared with the same period in 2019, according to statistics from ...
Bitcoin, hitting mainstream, powers to new high over €38,000
Bitcoin extended gains on Tuesday to a record high as the afterglow of Tesla Inc’s $1.5 billion investment in the cryptocurrency had investors reckoning it would become a mainstream asset ...
Buy A Tesla with bitcoin? Coming soon.
Tesla Inc expects to allow customers to pay for its electric vehicles with bitcoin soon, the automaker said on Monday, a move that could expand how the most popular cryptocurrency ...
Cyprus economy slows; rebound expected with solid growth – Economists
The Cyprus economy slowed in January, as the restrictions shut down many forms of economic activity. But a substantial rebound is expected after the vaccination programme is implemented, and economic ...
Cyprus’s Aphrodite gas production can sell in Europe – Analyst
Cyprus’s Aphrodite gas field, located in located in Block 12 of Cyprus’s exclusive economic zone, and with reserves of 129 billion cubic metres, is expected to begin production in 2025.
But ...
Libya’s new interim government has chance to restart economy
Libya’s parallel eastern administration welcomed Friday’s announcement of a new interim government to unite the country, but added it would only cede power if the eastern-based parliament approved.
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Oil price hits 1-year high on stimulus hopes
Oil prices rose on Monday to their highest in just over a year, with Brent futures nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for ...
Mergers & Acquisitions gives 147% boost to Lazard Q4 profit
Lazard Ltd, one of the world’s largest investment bank, reported a 147 per cent surge in fourth-quarter profit on Friday, powered by growth in its financial advisory business as corporate ...
Should you invest in the Fidelity 500 Index Fund?
“Take intelligent risks, rather than follow the crowd,” advised Edward C. Johnson II who founded Fidelity in 1946. Today, Fidelity is one of the world’s largest asset managers with $3.3 trillion ...
Europe’s recovery at risk; vaccine rollout lag costs €70bn per month
A five-week lag on the vaccination front. If left uncorrected, that would cost close to €90 billion euros in output this year, equivalent to two percentage points of lost quarterly GDP ...
UK audit reform to make directors pay for non-compliance
Company directors will become personally liable for the accuracy of their financial statements under landmark proposals from Britain’s finance ministry next week to improve corporate behaviour, sources familiar with ...
Ether seeks greater acceptance with futures launch
Futures on ether, the second largest cryptocurrency in terms of market capitalisation and daily volume, will launch late Sunday on derivatives exchange CME, as investors seek to take advantage of ...
Hezbollah takes aim at Lebanese finance
Hezbollah, a Shiite political party and militant group, has long held great leverage over politics and business in Lebanon. But now the group, which is on several lists as a ...
Bank of England to give six months to banks for negative rates
In a letter to lenders published Thursday, Sam Woods, the head of the Bank’s Prudential Regulation Authority said a majority of banks would need time to alter systems and ...
NY money manager charged in $1.8 billion Ponzi-like fraud
The founder of a New York money manager and two associates were criminally charged on Thursday with running a $1.8 billion Ponzi-like fraud where thousands of victims were falsely promised steady ...