UK construction activity falls by most since May 2020
British construction activity fell last month at its sharpest rate since May 2020, as new orders dried up in the face of rising interest rates and broader cost pressures, a survey ...
Crypto exchange Huobi to cut staff 20 per cent in ‘bear market’
Crypto exchange Huobi plans to lay off about 20 per cent of its staff, the company told Reuters on Friday, in the latest instance of cost-cutting in the industry as investor ...
Continental partners with AI chip firm Ambarella on autonomous driving
Germany’s Continental (CONG.DE) and California-based artificial intelligence chip firm Ambarella (AMBA.O) announced a partnership on Thursday to make software and hardware systems for autonomous driving.
The two ...
Tesla, EV rivals absorb costs after subsidy scheme abolished
China’s decision to end a more than decade-long subsidy for electric vehicle purchases has forced automakers, including Tesla (TSLA.O), to deepen discounts to maintain sales as demand eases ...
At CES 2023, Sony’s ‘Gran Turismo’ flags new entertainment strategy
When Sony Corp Group (6758.T) teases “Gran Turismo,” its long-awaited adrenaline-fueled film adaptation of Sony PlayStation’s hit car-racing franchise at the CES 2023 technology trade show this week, it will ...
Populism and changing political landscapes
By Ioannis Tirkides
In this article, we will examine the political landscape in Cyprus from 2011 onwards, against a backdrop of rising right-populism in advanced liberal democracies over the past couple ...
Silvergate Capital shares sink as crypto-related deposits plunge
Silvergate Capital Corp (SI.N) reported a sharp drop in fourth-quarter crypto-related deposits on Thursday and said it would cut its workforce by 40 per cent, or about 200 employees, as withdrawals ...
Festive bakes and salted caramel lattes boost Greggs’ Christmas
Greggs (GRG.L) said its Festive Bakes, mince pies and salted caramel lattes, along with breakfast and lunch offers, appealed to cash-strapped Christmas shoppers, helping like-for-like sales rise 18.2 per cent ...
UK equity funds saw record $10 bln outflows in 2022-Calastone
Investors sold a record 8.38 billion pounds ($10 billion) worth of UK-focused equity funds last year, shunning Britain as the country braces for the worst recession among major economies, a global funds ...
Tesla’s Dec sales of China-made cars fall to the lowest in five months
Tesla Inc (TSLA.O) delivered 55,796 China-made electric vehicles in December, the lowest level in five months, according to data from the China Passenger Car Association (CPCA) on Thursday.
That was ...
Next takes comfort from UK’s low unemployment
The boss of British clothing retailer Next (NXT.L) said that while the consumer outlook for 2023 had darkened he took comfort from the country’s low level of unemployment.
“If ...
Cyprus Business Now
Advisory and consulting firm Deloitte Cyprus this week released its annual tax guide for the current year, which the firm titles ‘Cyprus Tax Facts 2023’.
The tool is a comprehensive guide, ...
Cyprus must find ‘golden ratio’ with new minimum tax rate
Partner and head of international tax services at advisory and consulting firm PwC Cyprus Stelios Violaris recently examined the adoption of the minimum tax rate of 15 per cent, outlining the ...
Judge says Celsius Network owns most customer crypto deposits
A US bankruptcy judge ruled on Wednesday that Celsius Network owns most of the cryptocurrency that customers deposited into its online platform, meaning most Celsius customers will be last in ...
DOJ to seize $465 million of Robinhood shares tied to Bankman-Fried
US prosecutors are in the process of seizing shares of Robinhood Markets Inc (HOOD.O) tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the ...
Oil rebounds after biggest drop in decades at start of year
Oil rebounded over 2 per cent on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a US fuel pipeline ...
Russia sends more Arctic oil to China, India after sanctions
Russia is sending more crude oil produced in the Arctic region to China and India, and at steeper discounts, after Europe slammed its doors shut on Russian supplies last month, ...
Inflation in Cyprus increased by 8.4 per cent in 2022
Inflation in Cyprus for the period between January and December 2022 recorded an increase of 8.4 per cent, compared to the corresponding period of the year before, while an inflation rate of 7.9 ...
Samsung’s quarterly profit set to hit 6-year low as consumers hunker down
Samsung Electronics Co Ltd’s (005930.KS) quarterly profit will likely plunge 58 per cent to its lowest in six years as a global economic downturn saps demand for electronic devices and ...
UK businesses face ‘bleak’ outlook after poor end to 2022
British businesses are gloomy about prospects for 2023 as they face the likelihood of a surge energy bills and ongoing post-Brexit trade difficulties, the British Chambers of Commerce said late on ...
FTX’s former top lawyer aided U.S. authorities in Bankman-Fried case
FTX’s former top lawyer Daniel Friedberg has cooperated with US prosecutors as they investigate the crypto firm’s collapse, a source familiar with the matter said, adding pressure on ...
Fed meeting minutes may point to rate-hike endgame, new debate phase
The Federal Reserve ended 2022 with a firm promise at its December policy meeting that interest rates would continue rising this year, but at a slower pace and perhaps only by ...
Egypt’s currency weakens to 26.49 to the dollar
The Egyptian pound weakened to 26.49 to the dollar on Wednesday, its biggest one-day move since the central bank allowed it to fall by 14.5 per cent on Oct. 27, according Refinitiv Data.
...
Borrowers association demands immediate relief measures
The Association for the Protection of Borrowers (Syprodat) on Wednesday released a statement calling on the government to draw up and implement immediate relief measures for consumers, households, businesses and ...