Global energy markets upended for good
Ukraine crisis has created opportunities for the East Med region and Cyprus gas
With the EU seeking to get-rid of Russian gas – now at 40 per cent – by two-thirds by the ...
The co-op bank must not be resurrected
Worrying talk of a push to re-establish a bank which cost us all so dearly
The trigger for writing this article was a discussion on Omega TV last week which ...
Ahead of visit, Lagarde optimistic Cyprus can weather current storm (Updated)
European Central Bank (ECB) President Christine Lagarde is optimistic that Cyprus will use the flexibility it has shown many times in order to face the current difficulties as a result ...
War in Ukraine causes German business morale to collapse
German business morale plummeted in March as companies worried about rising energy prices, driver shortages and the stability of supply chainsin the wake of the war in Ukraine,pointing to ...
Hard landing: Lessors lose hope of getting Russian planes back
As the clock runs down to Monday’s sanctions deadline for Russian airlines to hand back more than 400 leased planes worth almost $10 billion, foreign lessors are fast losing hope that ...
Could the US ship more LNG to Europe?
The United States, the world’s top natural gas producer, wants to send more liquefied natural gas (LNG) to Europe to help its allies break their dependence on Russian gas ...
Turkey’s current account deficit seen rising to 4 per cent of GDP this year
Turkey’s current account deficit is expected to rise to $32 billion or 4.0 per cent of GDP this year, more than the 2.5 per cent previously forecast, Goldman Sachs said, citing rising ...
UK retail sales and consumer confidence fall as inflation mounts
Britons cut back on their shopping in February and consumer confidence levels tumbled this month as accelerating inflation cast a shadow over the world’s fifth-biggest economy, data released on ...
Energy Minister to help promote Cyprus in Egypt
Energy Minister Natasa Pilidou will meet with her Egyptian counterparts in Cairo on Sunday and Monday, a ministry statement announced on Saturday.
According to the statement, Pilidou is leading a ...
Costs of going unvaccinated in America are mounting for workers and companies
Nearly a year after COVID vaccines became freely available in the US., one fourth of American adults remain unvaccinated, and a picture of the economic cost of vaccine hesitancy is ...
Cyprus to commercialise academic research to bolster economy
Chief Scientist and Research and Innovation Foundation president Nikolas Mastroyiannopoulos, during an interview with the Cyprus News Agency earlier this week, revealed that the creation of a national knowledge transfer ...
Four weeks of war scar Russia’s economy
Russia’s invasion of Ukraine on Feb. 24 sparked sweeping sanctions that ripped the country out of the global financial fabric and sent its economy reeling.
A month on, Russia’s ...
The war in Ukraine and its macroeconomic implications
By Ioannis Tirkides
The war in Ukraine and the sanctions will have profound effects on the Russian economy itself, will cause a geopolitical shift, and will certainly have serious macroeconomic ...
China’s Sinopec pauses Russia projects, Beijing wary of sanctions
China’s state-run Sinopec Group has suspended talks for a major petrochemical investment and a gas marketing venture in Russia, sources told Reuters, heeding a government call for caution as ...
Lebanon banks to sell dollars at approved rate starting March 28
Lebanese banks will be allowed to sell the local currency for US dollars and vice-versa starting March 28, on the basis of the rate determined by the central bank’s “Sayrafa” ...
HSBC steps up scrutiny of Russian clients worldwide as sanctions ratchet up
HSBC (HSBA.L) is shunning prospective Russian clients and declining credit to some existing ones, two sources with knowledge of the matter told Reuters, as the bank seeks to shield ...
US, EU strike LNG deal as Europe seeks to cut Russian gas
The United States will work to supply 15 billion cubic metres of liquefied natural gas (LNG) to the European Union this year to help it wean off Russian energy supplies, the ...
EU nations to exchange refugees’ hryvnias at Ukraine cenbank rate
European Union countries are likely to agree to allow millions of Ukrainian refugees to exchange their currency, the hryvnia, into currencies used in the EU over the next three months ...
Cyprus Business Now
Cyprus Securities and Exchange Commission (CySEC) chairman George Theocharides was appointed in the position of Chairman of the Committee for Economic and Markets Analysis (CEMA) of the European Securities and ...
Clients plead with top custodian banks to stay in Russia
Global banks including Citigroup Inc (C.N), JPMorgan Chase & Co (JPM.N) and Societe Generale (SOGN.PA) face pressure to commit to remaining as custodian banks in Russia, as ...
Oil slides near 2 as EU fails to boycott Russian crude
Crude prices slid nearly 2 per cent on Thursday after the European Union (EU) did not agree on a plan to boycott Russian oil and as the United States and its ...
Signs that things are looking up a bit for tourism
There is interest from people in Scandinavian countries and Switzerland in visiting Cyprus this summer, according to the Deputy Minister of Tourism Savvas Perdios.
Speaking from Switzerland, where he is ...
The end, and the beginning of a new era for RCB
By Yiannis Seitanides
RCB Bank’s coordinated exit from the financial markets has entered the final stretch, with the supervisory authorities in Nicosia and Frankfurt managing a situation that could ...
UK sanctions Alfa, Gazprombank and Lavrov’s step daughter
Britain sanctioned another wave of Russia’s banks, critical industries and a host of members of its elite on Thursday, including Gazprombank, Alfa Bank, and a woman they said was ...