Siemens, SAP say EU draft Data Act puts trade secrets at risk
German business software maker SAP (SAPG.DE) and German engineering company Siemens (SIEGn.DE) have joined US tech giants in criticising draft EU laws on the use of data generated ...
Dollar under pressure as traders wait on loans data
The dollar began the week under pressure on Monday, with traders betting it might have peaked along with US interest rates, and selling it against peers that seem to have ...
Oil prices climb as recession fears begin to fade
Oil prices rose on Monday as fears of a recession in the US, which drove prices down for three straight weeks for the first time since November, started receding.
Brent ...
Cypriot startup Heroes Made receives €300,000 follow-on investment
The Kinisis Ventures (KV) Fund I and Host Trust, the investment vehicle of the Kulik family, long-time partners of MGD Heroes Made, on Monday announced that they are making a ...
Cyprus property sales hit €1.7 billion in first quarter of 2023
The value of real estate sold in Cyprus during the first quarter of 2023 reached €1.7 billion, according to a report released on Monday by the Department of Land and Surveys.
In ...
In Turkey, an election reckoning for the rise and fall of Erdogan’s economy
If Turks oust President Tayyip Erdogan in elections this month it will largely be because of an economic reversal that saw their prosperity, equality and ability to meet basic needs ...
The global outlook and financial risks in a medium-term horizon
The International Monetary Fund, in its Spring World Economic Outlook, released last month, provides an assessment of the global economy over the medium term, revised forecasts, and discusses underlying risks ...
Berkshire posts $35.5 billion profit, sells over $13 billion in stocks
Warren Buffett’s Berkshire Hathaway Inc BRKa.N posted a $35.5 billion first-quarter profit on Saturday, reflecting gains from stocks such as Apple Inc, while higher investment income and a rebound ...
Binance resumes Bitcoin withdrawals after temporary closure
Crypto exchange Binance said that it has resumed Bitcoin withdrawals after a brief closure due to a congestion issue.
Binance had paused the withdrawal of Bitcoin, the world’s largest ...
Saudi Arabia economy grew 3.9 per cent in Q1 boosted by non-oil activities
Saudi Arabia’s economy grew by 3.9 per cent year-on-year in the first quarter of 2023, according to initial government estimates of real gross domestic product published on Sunday.
Non-oil activities grew ...
Russian carmaker files third lawsuit against Volkswagen
Russian carmaker GAZ (GAZA.MM) has filed a lawsuit worth 15.6 billion roubles ($200.5 million) against Volkswagen (VOWG_p.DE), court records show, adding to two others filed earlier this year.
The ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting May 1:
Credit rating agency DBRS Morningstar has acknowledged that the Cyprus government announced that it aims to achieve ...
Dished up by 3D printers, a new kind of fish to fry
Forget your hook, line and sinker. An Israeli foodtech company says it has 3D printed the first ever ready-to-cook fish fillet using animal cells cultivated and grown in a laboratory.
...
For priceless European art, extra protection costs very little
Inexpensive new materials and sensors will help even small museums prevent irreversible damage to objects.
By Alex Whiting
Overlooking the waters of the Grand Canal in Venice, the former home ...
Etsy tops revenue estimates on demand for personalized products, higher fees
Etsy Inc (ETSY.O) on Wednesday beat market expectations for quarterly revenue, benefiting from demand for products such as personalized gifts offered on its e-commerce platform as well as higher ...
Cyprus focused on attracting new shipping companies
Deputy Ministry eager to continue green and digital transition efforts, engaged with EU on sanctions
With the implementation of the state’s action plan, combined with the quality services and ...
Consulting firm looks at how businesses can manage nature risks
The world’s ecosystems are under threat, and businesses are increasingly recognising that managing nature-related risks is essential for their long-term sustainability. However, understanding and managing these risks can be ...
Cyprus Business Now
The number of registered unemployed in Cyprus decreased in April 2023, compared to the same month last year, according to a report released this week by the Cyprus Statistical Service (Cystat).
...
Fewer luxury shoppers but bigger spenders return to Europe
China’s five-day Labour Day holiday in early May was once a good excuse for a quick European jaunt – with a side of luxury shopping on the agenda.
But with ...
ECB policymakers promise more hikes to beat inflation
The European Central Bank will continue raising interest rates until inflation is under control, two ECB policymakers said on Friday as surveys showed the fight against rising prices was far ...
Cyprus aims for budget surpluses but risks remain
Economic outlook is optimistic, primarily driven by tourism and domestic activity
While Cypriot economic growth is expected to remain strong, driven by tourism and domestic investment, the fiscal outlook is ...
European airlines see bumper summer bookings
British Airways-owner IAG (ICAG.L) and Air France-KLM (AIRF.PA) on Friday reported bumper summer bookings as travellers pressed ahead with holiday plans despite a cost-of-living crisis.
IAG, which also ...
Turkish central bank sticks to inflation forecast of 22.3 per cent for 2023
Turkey’s central bank is sticking to its inflation forecast of 22.3 per cent for 2023, Governor Sahap Kavcioglu said on Thursday – less than half of market expectations – even though the decline ...
Apple iPhone sales inch up, bolstering results amid shaky economy
Apple Inc’s (AAPL.O) results beat expectations on Thursday, showing off the tech giant’s resilience in a slowing global economy thanks to better-than-expected iPhone sales and notable inroads ...