Russian law on leased jets could help in claiming insurance
A new Russian law on leased aircraft showed Moscow could “confiscate” planes and such a move might help it claim insurance, Air Lease Corp (AL.N) said at a time ...
Cyprus economy still growing but slowing down
The Cypriot economy continues to grow, showing improvement over the performance of the previous year, but external factors are contributing to a loss of momentum, according to a report by ...
Oil surges after IEA warns of shortfall in supply
Oil prices climbed about 3 per cent on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels a day (bpd) of Russian crude and refined products ...
Minister says developments expected soon on gas deposits
Developments are expected soon over the exploitation of Cyprus’ natural gas fields, given the large increase in natural gas prices internationally, Energy Minister Natasa Pilides said on Thursday.
Speaking to ...
Airline industry asks for removal of all Covid-19 restrictions
Airports Council International (ACI Europe) and the International Air Transport Association (IATA) on Monday asked for the removal of all Covid-19 travel restrictions currently in force for trips within the ...
Three million barrels of Russian oil, products could be shut in next month: IEA
Three million barrels per day (bpd) of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the ...
Cyprus Business Now
Director-General of the Ministry of Finance George Panteli, who represented Cyprus at the EU Economic and Financial Affairs Council (Ecofin) which ended yesterday in Brussels, said on Wednesday that sanctions ...
BMW, Michelin hit by supply-chain disruption, Publicis cedes control in Russia
Michelin and BMW were among the latest companies on Wednesday to warn of disruption to their operations from Russia’s invasion of Ukraine, while ad group Publicis said it had ...
Introduction of minimum wage up in the air
By George Pirishis
There are new developments regarding the introduction of the minimum wage in the market since the general director of the Federation of Employers and Industrialists (OEB), Michalis ...
Fed hikes rates, signals aggressive turn against inflation
The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and projected its policy rate would hit a range between 1.75% and 2% by year’s end ...
Euro jumps as Russian Foreign Minister sees hope for compromise with Ukraine
The euro jumped on Wednesday and was set for its third consecutive daily gains versus the dollar on Wednesday after Russian Foreign Minister Sergei Lavrov said peace talks with Ukraine ...
Can Russia pay its creditors, and what happens if not?
Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday – the first such payments since its invasion of Ukraine which sparked a raft of sanctions ...
Sanctions-savaged Russia teeters on brink of historic default
The economic cost of Russia’s assault on Ukraine was fully exposed on Wednesday as Vladimir Putin’s sanctions-ravaged government teetered on the brink of its first international debt default ...
International money transfers to Cyprus can cost up to 3% in fees
The mediterranean island of Cyprus was a one time tax haven which still attracts huge amounts of foreign investment. Its flat, low tax rates, privacy laws and geographical location have ...
ECB puts Russians in EU, even residents, under scanner
European Union regulators have told some banks to scrutinise transactions by all Russian and Belarusian clients, including EU residents, to ensure that they are not used to circumvent Western sanctions ...
Cabinet approves two new energy-saving grant schemes
Two new grant schemes were on Wednesday announced by the energy ministry totalling € 49 million, for the energy upgrade of small and medium enterprises (SMEs), non-profit organisations (NGOs), local government authorities ...
Sanctions impact cruise line industry
The impact of Russia’s invasion of Ukraine inevitably impacted the cruise line industry, with all major cruise companies rapidly seeing the adverse effects of both the conflict and the ...
Muted reaction to potential bitcoin regulation in the US
Bitcoin loves flirting with the mainstream. But now, as the US president says he wants to get serious, it may be getting cold crypto feet.
When Joe Biden ordered officials ...
Cyprus Business Now
Cypriot company Tototheo Maritime, a leading maritime technology integrator and provider, announced on Tuesday that it has been appointed as the official distributor and service partner for marine technology manufacturer ...
Bank of Cyprus recognised for asset management services
International magazine Global Banking & Finance Review on Tuesday named the Bank of Cyprus’ asset management division (BOCAM) as the best asset management company in Cyprus.
The award was given ...
Impact of Russian sanctions a puzzle for Cyprus
By George Pirishis
Significant questions arise with regard to the expected impact on the Cypriot economy following the decisions to impose European sanctions on Russia. While the services sector may ...
Finance ministry ups inflation forecast to 4%
As petrol prices surge in the wake of Russia’s invasion of Ukraine and consumers fret over the cost of living, the finance ministry has revised its forecast for inflation ...
Hellenic Bank has little direct exposure to Russia
Hellenic Bank on Tuesday announced that it has negligible direct exposure to Russia, while its indirect exposure through any adverse effects on the Cypriot economy hinges on a number of ...
Shell directors may face lawsuit over climate transition plans
Environmental lawyers ClientEarth said on Tuesday they were preparing legal action against the directors of Shell (SHEL.L) over the company’s climate transition plan, in what they said would ...