Business

Recent implosions in the cryptocurrency markets indicate that long-warned-about dangers of decentralised digital money are now materialising, the Bank for International Settlements has said. The BIS, the global umbrella body ...

The International Air Transport Association (IATA) on Tuesday said that the aviation industry’s sustainability efforts need to be further supported through extensive incentive schemes. The incentives, the association explained, ...

Zavos Group chief executive Michalis Zavos this week said that Limassol is experiencing a surging demand in rental properties, with office space being particularly sought after. “The problem lies in ...

The Bank of England should raise rates faster than it has so far because the sterling’s weakness is adding to Britain’s inflation pressures, interest-rate setter Catherine Mann said ...

Germany faces certain recession if already faltering Russian gas supplies stop completely, an industry body warned on Tuesday, as Italy said it would consider offering financial backing to help companies ...

Turkey’s government has submitted a proposal to parliament for a supplementary budget of some 1 trillion lira ($57.74 billion) to cover rising costs of tackling a currency slide, soaring energy prices ...

The crypto market has been quite volatile lately, owing to its early age, speculation by investors, and limited use cases. The price of cryptocurrencies can fall or rise quickly depending ...

Babel Finance, the Hong Kong-based crypto lender which suspended withdrawals and redemption of crypto assets on Friday, said it has reached an agreement with counterparties on the repayment of some ...

Shipping companies are transforming rust buckets into gold mines in a modern-day alchemy that could fuel already rampant inflation for years to come. The disruption to world trade caused by ...

For Jeremy Fong, US crypto lender Celsius was an ideal place to stash his digital currency holdings – and earn some spending money from its double-digit interest rates along the way. “...

The United Arab Emirates will build a new Red Sea port in Sudan as part of a $6 billion investment package, DAL group chairman Osama Daoud Abdellatif, a partner in the ...

Oil prices rose 1 per cent on Tuesday, clawing back more of last week’s losses as investors focused on tight supplies of crude and fuel products rather than concerns about ...

Bitcoin on Sunday rose around 7.6 per cent to $20,404 from its previous close, signaling a recovery from a sharp drop on Saturday. Bitcoin, the world’s biggest and best-known cryptocurrency, is ...

State-owned asset management company Kedipes announced on Monday that it repaid €100 million in state aid during the second quarter of the current year. Following the latest tranche, Kedipes’ state aid ...

RCB Bank on Monday announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank has been successfully completed. This follows the original statement released on ...

The Cyprus Chamber of Commerce and Industry on Monday announced that the UCLan Cyprus University has signed a Memorandum of Understanding (MoU) with the Cyprus Commercial Representatives Association (CCRA). The ...

The Russian rouble steadied on Monday near multi-year peaks, supported by capital controls, and may continue firming later this month due to month-end tax payments. At 0758 GMT, the rouble eased 0.2 ...

Global airlines battered by COVID-19 seem confident of narrowing their losses and went on the offensive at an industry summit in Qatar, criticising governments and airports over their handling of ...

The world’s biggest gambling hub Macau began its second day of mass COVID-19 testing on Monday after dozens of locally transmitted cases were discovered over the weekend, with most ...

Europe’s biggest Russian gas buyers were racing to find alternative fuel supplies and even looking at burning more coal to cope with reduced gas flows from Russia on Monday ...

The cryptocurrency industry was on edge on Monday morning as investors feared contagion from problems at major crypto players could unleash a major shakeout if not contained. Bitcoin which has ...

China’s crude oil imports from Russia soared 55 per cent from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed ...

Oil prices edged lower on Monday, reversing earlier gains, as concerns about slowing global economic growth and fuel demand outweighed worries about tightening supplies. Brent crude futures slipped 3 cents to $113.09 ...

The election of Colombia’s first leftist president, Gustavo Petro, is indicative of widespread yearning for a more equal and inclusive society, analysts and business leaders said, but the former ...