Pfizer vaccine effectiveness is down to 64%, Israel says
The effectiveness of the Pfizer vaccine against the coronavirus has dropped to just 64 per cent in Israel, the country’s Ministry of Health said in a statement on Monday.
The ...
In Cyprus, houses cost more as cost of construction materials climbs
A Cypriot union representative recently declared that homeownership in Cyprus has become an ‘impossible dream’.
In Cyprus, the rising cost of construction materials has resulted in property values increasing by ...
How Hezbollah controls the economy in Lebanon
The Iran-backed militia group Hezbollah has done everything it can do to create a parallel state in Lebanon. A ‘state within a state,’ many call it.
The Lebanese political class ...
OPEC+ deal leads to Saudi Arabia-UAE conflict
Saudi Arabia’s energy minister pushed back on Sunday against opposition by fellow Gulf producer the United Arab Emirates to a proposed OPEC+ deal and called for “compromise and rationality” ...
Gazprom pressures Ukraine, eyes Nord Stream 2 -analysts
Kremlin-controlled gas giant Gazprom has held off from booking additional capacity for gas supplies via Ukraine to meet surging demand in recent months, sending a clear sign it is waiting ...
Show me the money! In Europe, it’s in Germany, France and Russia
The latest buzzword in wealth management these days is ‘decoupling,’ because most of us in the normal world are still dealing with the effects of the pandemic crisis.
But the ...
Plan to make Cyprus an ICT hub – Ministry official
“Our vision is to create a sustainable growth environment that is driven by research, innovation, and technological advancement. This means creating a new incentives framework for science and technology companies. ...
Dollar up for now, but expected to slide against euro — analysts
Near-term bets in favour of the dollar should be increased, a majority of analysts in Reuters polls said, who however were split on the duration of the greenback’s bullish ...
Turkey eases Covid-19 restrictions; masks still required
Turkey on Thursday cancelled most of its Covid-19 restrictions on businesses and events, and lifted nighttime and Sunday curfews after daily infection numbers remain steadily around 5,000 cases.
The intercity travel ...
Sony buys Housemarque, maker of ‘combat’ game Returnal
Sony has added to its already impressive lineup of in-house studios by acquiring Finnish game developer Housemarque on Tuesday.
Housemarque, the makers of April’s eighth-best selling game Returnal, a ...
Jet2 cancels flights and holidays to Amber-List countries, Turkey until July 18
Jet2.com and Jet2holidays have suspended all flights and holidays to countries on the UK’s amber list up to and including 18 July, the airline said in a statement ...
Ryanair adds new routes this summer from Cyprus
Ryanair on Thursday announced that six new routes are being added to its summer schedule from Paphos.
The new routes are to Bologna, Bari, Corfu, Marseille, Rhodes, and Venice.
Speaking ...
Post-Brexit UK businesses struggle to trade with EU – Study
Almost a third of businesses that trade with the EU have suffered a decline or loss of business since new barriers to trade were introduced on January 1, according to a ...
UK to win exemption for financial services from minimum tax
Britain is set to secure an exemption for financial services from a new global tax system which was agreed by the Group of Seven economies to squeeze more money out ...
Banks still have essential role to play — Economist – Cyprus Economic Society
Do we still need banks? What role do they play in our society today?
The role of banks today has not changed, despite the many changes we have gone through, ...
Limassol launches massive anti-flood project
A crucial piece of infrastructure was unveiled in Limassol today as three large rain gutters totalling up to more than 4 kilometres in length will be created to prevent flooding in ...
Global shipping backlog threatens Christmas gifts
Suppliers to Walmart (WMT.N), Target (TGT.N), Amazon.com (AMZN.O) and other major retailers told Reuters they are placing holiday orders for Chinese-made merchandise weeks earlier this year, ...
Europe needs digital euro says French central bank governor
Europe’s sovereign control over its money is at risk if it does not push ahead with plans for a digital euro and a European payments system, France’s central ...
Egyptian billionaire Onsi Sawiris dies
Onsi Sawiris, the patriarch of a family of billionaire businessmen who launched a group of multinational companies under the Orascom umbrella, died on Tuesday at the age of 90, chairman of ...
Post-Brexit banks demand sharply higher fees for UK payments
Companies making payments from the UK to the EU are seeing sharply higher fees that add up quickly, a report in Finance Monthly shows.
Some European companies are also faced ...
Teenage entrepreneur creates innovative new companies in Cyprus
Arian Adeli started his first company when he was sixteen. The company has been successful, and so Arian has written a book to go with it. Since then, he and ...
TUI cancels flights to Cyprus, other destinations to July 4
TUI has cancelled flights to a slew of destinations, including Cyprus, to July 4, the company said in a statement released on Tuesday.
Other destinations are cancelled until July 11. Cancellation periods ...
Coronavirus: Economy on the rebound track says minister
Finance Minister Constantinos Petrides on Monday unveiled the second supplementary state budget for 2021, a stimulus package aimed at continuing support to businesses struck by the coronavirus-related measures – although the single ...
HSBC humbled by China
On a rainy day last November, China Baowu Steel Group, the world’s largest steel maker, gathered its finance department for a training session on the outskirts of Shanghai. One ...