Business

Here are the top business stories in Cyprus from the week starting July 29: Deputy Tourism Minister Kostas Koumis recently completed a tour of Limassol’s wine-producing regions, focusing on villages ...

Global hedge funds ditched bets against European stock markets at the fastest pace in 10 years amid a raft of better-than-expected company results, according to a Goldman Sachs (GS.N) note ...

McDonald’s (MCD.N) reported a surprise drop in sales and missed Wall Street estimates for quarterly profit on Monday, as the burger giant struggled to draw in cash-strapped customers ...

Diageo (DGE.L) is set to post its first yearly sales decline since 2020 next week, when it needs to convince investors that plans to turn around its North American and ...

YouTube speeds in Russia are set to sharply decline on desktop computers due Google’s failure to upgrade its equipment in Russia and its refusal to unblock channels of Russian ...

By Ioannis Tirkides A common thread runs through many of the elections taking place around the world this year: a rise in populism and nationalism, a move towards protectionism and ...

Eurobank Cyprus generated a net profit after tax of €105.7 million in the first half of 2024, according to the bank’s financial results released on Friday. Specifically, the bank’s financial ...

Professor Soteris Kalogirou of the Cyprus University of Technology (Tepak) has been elected as a member of the Artificial Intelligence Industry Academy, according to an announcement by the university. Tepak ...

Eurozone banks have “room for improvement” in their cyber security, starting with how they would keep their business running after a hack, the European Central Bank said in an announcement. ...

LinkedIn agreed to pay $6.625 million to settle a proposed class action accusing the Microsoft (MSFT.O) unit of overcharging advertisers by inflating how many people watched video ads on its ...

Meta Platforms (META.O) has said that it will roll out a new tool called AI Studio that will allow users to create, share and design personalized AI chatbots. The ...

The value of cashless transactions in Cyprus reached €129 billion in the second half of 2023, with a total of 152 million transactions, reflecting an increase of 12 per cent and 15 per cent, respectively, ...

Low-cost carrier Wizz Air is set to launch a new route from Larnaca to Cairo on October 29, according to an announcement released on Friday. The airline said that “the new ...

Intel (INTC.O) was set to erase nearly $25 billion in market value on Friday in what would be its worst selloff since 2000 after it suspended its dividend and slashed its ...

Alpha Bank Cyprus announced on Friday that more than 4,000 of its borrowers received over €3 million in benefits through the bank’s reward programme. The programme, which ran from August 1, 2023, to ...

Inflation in Cyprus stood at 2.1 per cent in July, according to a report released this week by the state’s statistical service, disrupting an upward trend that had persisted since ...

Eurobank Cyprus generated a net profit after tax of €105.7 million in the first half of 2024, according to the bank’s financial results released on Friday. Specifically, the bank’s financial ...

Cypriot food producers aiming to increase their export volumes can now take advantage of a new initiative designed to establish a stronger presence in the United States market. Specifically, Rovshan ...

Officials of the United Arab Emirates Oil Company (Adnoc) and the British multinational BP will meet Energy Minister George Papanastasiou on Friday. According to the Cyprus News Agency the meeting ...

The Environment Department this week announced an extension of the application deadline for a grant scheme aiming to encourage businesses in Cyprus to reduce their gas emissions. According to the ...

Cyprus’ retail trade turnover, excluding motor vehicles, recorded a significant increase in June 2024, according to a report released this week by the Cyprus Statistical Service (Cystat). According to the report, ...

Eurobank this week posted an adjusted net profit of €732 million for the first half of 2024, an increase of 22.2 per cent year-on-year, while reported net profit stood at €721 million. In addition, ...

Barclays (BARC.L) announced a new 750 million pound ($957 million)share buyback and upgraded its longer term earnings guidance on Thursday, driven in part by an upswing in trading income that ...

Saudi Basic Industries Corp (SABIC) (2010.SE), one of the world’s biggest petrochemicals companies, reported a close to 85 per cent jump in second-quarter net profit on Thursday, helped by higher ...