Siemens Energy reviews wind unit set-up after $5 billion loss
Siemens Energy (ENR1n.DE) is reviewing the structure of Siemens Gamesa, it said on Wednesday, in a bid to return to profit the struggling wind division that caused a 4.6 ...
German drug regulator considering export ban on Ozempic
The head of Germany’s drug regulator BfArM is considering an export ban on Novo Nordisk’s (NOVOb.CO) diabetes drug Ozempic, which is in high demand for its weight-loss ...
UK inflation slows sharply, boosting BoE and PM Sunak
British inflation cooled by more than expected in October as household energy prices dropped from a year ago while stubbornly high services sector price growth also eased, offering some relief ...
Limassol port sees record cruise visits in October — global mix of passengers welcomed
Port management company DP World Limassol on Wednesday announced that Limassol port saw record cruise ship calls in October 2023, welcoming 31 cruises and around 48,000 passengers to the island.
According to the ...
Cyprus economy grows by 2.5 per cent year-on-year in third quarter
The Cypriot economy witnessed a growth rate of 2.5 per cent during the third quarter of 2023, compared to the same period in 2022, reflecting a higher annual increase than the 2.2 per cent ...
Cyprus Business Now
The University of Cyprus (UCY) this week announced that it is set to host a two-day event on artificial intelligence, called AI Days, on November 27-28.
In its announcement, the ...
Global EV sales stay strong
Electric-vehicle sales are seeing continued strength globally with China reporting record monthly sales in October despite the end of subsidies, according to market research firm Rho Motion.
China ended an 11...
German cartel office opens probe into Coca-Cola over pricing practices
The German cartel office said on Tuesday it opened an investigation into Coca-Cola Europacific Partners Deutschland over pricing practices in the country.
“There are indications that Coca-Cola could competitively hinder ...
Cryptoverse: Bitcoin miners make money ahead of ‘halving’
Bitcoin miners are making hay while the sun shines.
The business has been yanked out of the doldrums by the cryptocurrency’s recent rally – and now mining companies are racing ...
Cyprus Chamber of Commerce takes part in European business summit
The Cyprus Chamber of Commerce and Industry (Keve) is taking part in the European Parliament of Enterprises, an event organised every two years by the European Chambers of Commerce, along ...
Cyprus showcases advantages as a hub for foreign businesses in London
Energy Minister makes case for Cyprus as a centre for international technology companies
Minister of Energy, Commerce, and Industry George Papanastasiou presented Cyprus as an attractive destination for technology and ...
Bank of Cyprus reaches MREL target one year ahead of schedule
The Bank of Cyprus is set to complete its Minimum Requirement for Own Funds and Eligible Liabilities (MREL) target one year earlier than expected, signalling progress towards sustainable profitability, as ...
Emirates holds off on Airbus A350 order in engine rift
Emirates ruled out an immediate deal to buy Airbus A350-1000 jets on Tuesday, blaming a dispute with engine maker Rolls-Royce over the durability of its engines and leaving the ...
UK wage growth cools slightly but stays close to record
British wages grew slightly less fast in the three months to September but remained close to their record pace, according to official data that will do little to ease the ...
Google fined $164,000 for failing to store user data inside Russia
Google (GOOGL.O) was fined 15 million roubles ($164,000) on Tuesday for repeated refusal to store Russian users’ data on servers inside Russia, a Moscow court said.
Russia has repeatedly clashed with ...
Europe’s shrinking stash heralds economic trouble
By Francesco Guerrera
The eurozone is a tale of two interest rates: the official one set by the central bank, and the ones earned by companies and individuals on their ...
Nicosia event highlights potential for growth in UK-Cyprus trade
Consulco Group of Companies, a leading business entity, welcomed the UK Trade Commissioner for Europe, Chris Barton CMG, for a high-profile luncheon at their headquarters in Nicosia.
The event, hosted ...
Cyprus Business Now
Employment in the Cyprus government witnessed an increase of 283 individuals (0.5 per cent) in October 2023, compared to the same month in 2022, reaching a total of 53,554 people, according to a report released ...
Greece starts process to sell 20 per cent stake in National Bank
Greece on Monday announced plans to sell a 20 per cent stake in National Bank of Greece (NBG) after concluding the sale of a 9 per cent stake in Alpha Bank to ...
Hyundai Motor breaks ground on $1.5 bln EV plant in South Korea
Hyundai Motor Co (005380.KS) broke ground on Monday on a 2 trillion won ($1.52 billion) plant dedicated to making electric vehicles (EVs) in South Korea, as the automaker accelerates a shift away ...
UK petrol station group EG to buy Tesla charging units
British petrol station operator EG Group will buy Tesla’s (TSLA.O) ultra-fast charging units to help roll out its electric vehicle charging network across Europe, it said on Monday.
...
Emirates 90-plane 777X deal to kick-start Dubai Airshow
Middle East carriers look set to order tens of billions of dollars of long-haul jets at the opening of the Dubai Airshow on Monday, as Emirates renews confidence in the ...
Cyprus startups vie for funding of up to €119,999 — pre-seed programme sees record interest
Cyprus’ Research and Innovation Foundation (Idek) on Monday announced that the submission period for proposals in the latest call for its pre-seed programme concluded on November 3, with an impressive 134 startups ...
Greek state bank bailout fund sells 9 per cent of Alpha bank to Unicredit
Greece’s state-controlled bank bailout fund HFSF said on Monday it sold its 9 per cent stake in Alpha Bank (ACBr.AT) to UniCredit for 293.5 million euros ($314 million) after an improved ...