Russia swerves to avoid default: what is next?
Russia may have averted default as it announced it had made several overdue payments in dollars on its overseas bonds, shifting the market’s focus to upcoming payments and whether ...
Brief crash hits European stocks in holiday-thinned trading
European stocks suddenly fell on Monday before partly recovering in what brokers described as a “flash crash” or an erroneous trade on a day where a holiday-thinned trading activity.
The ...
Vestas warns Ukraine war adds to strain on wind industry, shares plummet
Wind turbine maker Vestas (VWS.CO) posted a deep first-quarter loss and slashed its 2022 margin forecast due to the war in Ukraine and writedowns in its offshore business, reflecting an ...
Bored Ape NFT company raises around $285 million of crypto in virtual land sale
The company behind the “Bored Ape” series of NFTs has raised around $285 million worth of cryptocurrency by selling tokens which represent land in a virtual world game it says it ...
Qantas to break London flight barrier with Airbus jet order
Qantas Airways Ltd (QAN.AX) is set to announce a landmark order for Airbus SE (AIR.PA) A350-1000 jets capable of nonstop flights from Sydney to London as part ...
Bitcoin adoption by Central African Republic baffles cryptoverse
Central African Republic’s adoption of bitcoin, while many of the world’s largest economies stay wary of it, has puzzled the cryptocurrency world and residents of the gold and ...
India seizes $725 million of Xiaomi assets over illegal remittances
India said on Saturday it had seized $725 million from the local bank accounts of China’s Xiaomi Corp (1810.HK) after a probe found the smartphone maker had made illegal remittances ...
Russia expects trade with China to reach $200 billion by 2024, Ifax reports
Russia’s foreign ministry on Saturday said it expected commodity flows with China to grow and trade with Beijing to reach $200 billion by 2024, the Interfax news agency reported, as Moscow ...
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 ...