Russia looks to swerve default with last-minute dollar bond payment
Russia made what appeared to be a late U-turn to avoid a default on Friday, as it made a number of overdue interest payments in dollars on its overseas bonds, ...
WTO backs some Turkish claims against EU steel import curbs
The World Trade Organization (WTO) accepted some of Turkey’s complaints against European Union measures designed to curb imports of steel and advised the bloc on Friday to bring them ...
HSBC’s top shareholder calls for banking giant’s break-up
HSBC Holdings’ (HSBA.L) largest shareholder, Chinese insurance giant Ping An (601318.SS), has called for a break-up of the London-based bank, a source familiar with the matter said on Friday.
...
Turkey’s TAV in talks to refinance Izmir Airport loan
Turkey’s TAV Airports (TAVHL.IS) is in talks with banks to refinance the debt of its Izmir Airport, which is worth around 200 million euros ($211 million), sources told Reuters.
It ...
Inflation may start falling by middle of 2023 says economist
Adolfo Laurenti, Principal European Economist for multinational financial services firm Visa, earlier this week participated in an event co-hosted by the Cyprus Economic Society, as well as the Cyprus Association ...
Chip startups using light instead of wires gaining speed and investments
Computers using light rather than electric currents for processing, only years ago seen as research projects, are gaining traction and startups that have solved the engineering challenge of using photons ...
Repurposing the peace dividend
By Maria Demertzis
The war in Ukraine has brought an end to a 60-year period in which Europe has enjoyed a peace dividend, an amount released by reducing defence expenditure ...
Musk’s Twitter free speech promise may be tested in Middle East
Twitter buyer Elon Musk calls himself a free speech absolutist, but that could be put to the test in the Middle East where critics say authoritarian governments use the platform ...
Gas-guzzling German carmakers face uphill struggle to go green
As Germany speeds up investment in renewables, the energy consumption of its carmakers reveals just how reliant the country’s most important industry is on fossil fuels, a Reuters analysis ...
Mercedes looking at energy options should Russia turn off the gas
Mercedes-Benz (MBGn.DE) is looking at energy alternatives should Russia cut gas deliveries and is working closely with German authorities to ensure energy supplies, the premium carmaker’s top executive ...
Musk told banks he will rein in Twitter pay, make money from tweets, sources say
Elon Musk told banks that agreed to help fund his $44 billion acquisition of Twitter Inc (TWTR.N) that he could crack down on executive and board pay at the social ...
European Coding Challenge to take place in Cyprus for first time
The Cyprus Computer Society announced this week that the inaugural edition of the European Coding Challenge will take place in Cyprus next month.
The event, which is being held in ...
Meta spreads cheer on Wall Street as Facebook adds more users
Shares of Meta Platforms Inc (FB.O) rose 17 per cent in a relief rally on Thursday after having lost nearly half their value this year, as the social media giant ...
Hobbled by economy, Erdogan heads to Saudi to mend ties after Khashoggi U-turn
Three and a half years after accusing Saudi Arabia’s leadership of murder and running a sham trial over the killing of journalist Jamal Khashoggi, Turkish President Tayyip Erdogan plans ...
Investors fret over potential Musk U-turn in $44 billion Twitter buyout
Investors speculating over whether Elon Musk will complete his $44 billion acquisition of Twitter Inc (TWTR.N) sent the social media company’s shares on Wednesday to their lowest level since ...
Euro peers over the cliff at dollar parity as recession looms
The euro’s drop to a five-year low is rekindling the possibility the currency will reach parity versus the dollar for the first time in two decades, as fears of ...
Standoff with Lebanon banks could derail IMF deal, minister says
Lebanon’s efforts to secure $3 billion in International Monetary Fund support to help it tackle its financial crisis could be derailed by divisions over how to deal with massive financial ...
Britain’s Sainsbury’s warns of lower profit as inflation hits
British supermarket group Sainsbury’s (SBRY.L) followed market leader Tesco (TSCO.L) in warning that soaring inflation would lower profit in the current financial year, taking the shine off ...
With inflation, gold notes and cards find their way into America’s wallet
With inflation running at its highest levels in four decades, Utah business owner Steve Allred is concerned about the declining purchasing power of the US dollar.
To help protect against ...
How Africa is bearing the brunt of palm oil’s perfect storm
Djeneba Belem’s fried bean cake stall in Abidjan is a world away from the war raging in Ukraine. But her business is now at the mercy of an unexpected ...
Electric car battery showdown brews in West
Several companies plan to open production facilities for lithium iron phosphate (LFP) batteries or components in North America and Europe by 2025, as the alternative to nickel-cobalt-manganese (NCM) cells begins to ...
Rouble strengthens in Moscow as Russia halts gas supplies to Bulgaria, Poland
The rouble strengthened on Wednesday after Russia said it had halted gas supplies to Bulgaria and Poland, firming to a more than two-year high against the euro in Moscow trade ...
GSK tops quarterly forecasts, helped by COVID-19 treatment and Shingrix
British pharmaceuticals giant GSK (GSK.L) beat analyst expectations for its first-quarter results on Wednesday and stood by its 2022 forecasts, after buoyant sales of its COVID-19 treatment which has now ...
Tesla loses $126 bln in value amid Musk Twitter deal funding concern
Tesla Inc (TSLA.O) lost $126 billion in value on Tuesday amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to ...