#business

Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas ...

The disruption to container shipping traffic in the Red Sea is increasing and is expected to reduce the industry’s capacity between the Far East and Europe by some 15-20 ...

Strong demand for its retro-style Gazelle and Samba sneakers helped drive Adidas’ strong first-quarter growth, especially in its home market of Europe, the company has said, as it moves on ...

By Maria Demertzis We are only halfway through the implementation of the NextGenerationEU Recovery and Resilience Facility (RFF), so the final judgment on its success is still to come. However, ...

Two of Europe’s top airline groups, Lufthansa (LHAG.DE) and Air France-KLM (AIRF.PA), have announced cost cuts after labour disputes and high customer payouts linked to flight disruptions ...

Microsoft will invest $1.7 billion over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, according to chief executive Satya Nadella. Jakarta is ...

Here are the top business stories in Cyprus from the week starting April 29: The Cyprus Shipping Chamber (CSC) recently announced its support for the adoption of the Net-Zero Industry Act ...

European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue this week as they geared up to launch new models, faced higher costs and were hit ...

Samsung Electronics forecast demand for artificial intelligence would hold strong and tighten supply of some high-end chips, joining rivals in benefiting from a solid rebound in the battered global memory ...

Hyundai Motor Group plans to launch its first hybrid cars in India as early as 2026, three sources said, as the South Korean auto group shifts strategy to look beyond electric ...

The agriculture ministry this week launched a new price observatory for fruit and vegetable products named ‘e-Kofini’, aimed at ensuring transparency and fair prices in the local market. The platform ...

Aston Martin (AML.L) posted a bigger-than-expected first-quarter pretax loss earlier this week as the British luxury carmaker made fewer cars and burned more cash than analysts anticipated, sending its ...

British manufacturing fell back into contraction in April and cost pressures escalated, although the pace of decline was a little less marked than first feared, a survey showed on Wednesday. ...

Amazon.com reported quarterly results above Wall Street’s expectations this week, as interest in artificial intelligence helped drive cloud-computing growth. CEO Andy Jassy told analysts that for Amazon “there ...

Apple’s quarterly results and forecast beat modest expectations on Thursday, as the iPhone maker unveiled a record share buyback program, sending its stock up 6 per cent in extended trade. ...

Cyprus’ Industrial Turnover Index reached 124.3 units in February 2024, with 2021 being the base year, set at 100 units, marking a 5.2 per cent increase compared to the same month in 2023. According to a ...

The Research and Innovation Foundation (RIF) this week announced the launch of two new programmes, titled Excellence and Post-Doc respectively, with a total budget of €14.5 million. According to the announcement, ...

The Cyprus Statistical Service (Cystat) announced on Thursday that the government’s surplus for the period January-March 2024 reached €523 million, equivalent to 1.7 per cent of the GDP. This marks an increase ...

Cyprus’ Producer Price Index in Industry reached 121.5 units in March, with 2021 acting as the base year, set at 100 units, marking an annual decrease of 3.9 per cent, marking the ninth consecutive ...

Limassol port has seen a substantial rise in wheeled cargo traffic since DP World Limassol (DPWL) took over its operation, processing around 60,000 multipurpose Ro-Ro units (Roll-on, Roll-off) in 2023 alone, according ...

The global economy is growing faster than expected only a few months ago thanks to resilient US activity while inflation is converging more quickly than expected with central banks’ targets, ...

Cyprus’ retail sector experienced a significant upturn in March 2024, according to a report from the Cyprus Statistical Service (Cystat) released on Thursday. The report disclosed a 5.5 per cent increase in ...

Inflation soared to its highest level since October 2023 in April of this year, according to a report released on Thursday by the Cyprus Statistical Service (Cystat), reigniting concerns amongst consumers ...

Limassol port has seen a substantial rise in wheeled cargo traffic since DP World Limassol (DPWL) took over its operation, processing around 60,000 multipurpose Ro-Ro units (Roll-on, Roll-off) in 2023 alone, according ...