European computer segment affected by supply chain disruption
Computer shipments experienced a decline for the second quarter in a row at the end of the first half of the year, hindered by issues on both the demand and ...
Asset managers to offer fund tokens despite crypto turmoil
Investors in crypto have endured wild moves in recent months, but this has not fazed asset managers who are preparing to use the blockchain technology behind cryptocurrencies to break funds ...
Automakers accelerate drive to secure battery raw materials
Rising demand for electric vehicles (EV) around the world is encouraging automakers such as Tesla Inc (TSLA.O), Volkswagen (VOWG_p.DE) and Stellantis NV (STLA.MI) to step up ...
Jack Dorsey’s Block ends Afterpay smartphone tie-up with Australia’s Westpac
Afterpay, the Australian payments firm bought by Jack Dorsey’s Block Inc (SQ.N), and Australia’s Westpac Banking Corp (WBC.AX) ended a partnership after the firm cancelled a ...
Long-established industries that have shaped the island’s business landscape
Cyprus has always exhibited tremendous resilience throughout its short history as an independent country to bounce back from catastrophic events and external shocks. To achieve this feat, it has had ...
Businesses moving to the cloud must have a strategy in place
The pandemic brought to light a great deal of financial, economic and operational weakness across the world.
This prompted organisations across all industries to double down on business reliance planning, ...
Cyprus Business Now
The balance of deposits in Cyprus amounted to €51.2 billion, while the balance of loans to €28.6 billion in July 2022, registering a net decrease compared to June, according to a report published ...
A new era of monetary policy is just beginning
By Ioannis Tirkides
The current time and the next period for a number of years at least, will be more treacherous for monetary policy. This is because the era of ...
Currency tops list of challenges for Egypt’s new central bank governor
Egypt’s new central bank governor, Hassan Abdalla, faces a daunting task as he tries to repair an economy derailed by an overvalued currency, rampant inflation and a banking system ...
Oil prices rise on signs of improving demand, gain 3 per cent on week
Oil prices rose as much as $1 on Friday on signs of improving fuel demand, although further gains were capped as the market awaited clues from the US Federal Reserve chairman ...
Cash-rich Germany criticised by watchdog over money laundering
Germany has been criticised by a global watchdog for failing to do enough to tackle money laundering, such as by prosecuting very few for the crime despite being one of ...
CySEC monitoring BoC takeover offers, Senvest increases share percentage
Cyprus Securities and Exchange Commission (CySEC) chairman George Theocharides on Thursday said that the commission is closely monitoring the non-binding takeover offers submitted by private equity firm Lone Star for ...
ECB accounts show inflation concerns intensifying
European Central Bank policymakers meeting last month appeared increasingly concerned that high inflation was getting entrenched, even as the risk of a recession loomed in the bloc, the accounts of ...
Cyprus Business Now
Deputy minister of shipping Vassilis Demetriades on Thursday met with Panama’s director of the general directorate of seafarers, captain Juan Maltez, and the ambassador of Panama Julie Lyberopoulos, in ...
Europe’s Wizz Air considering a Saudi operating license
European budget carrier Wizz Air (WIZZ.L) is considering basing an airline in Saudi Arabia as part an agreement signed with the government this year to develop the kingdom’s ...
Oil prices rise on potential OPEC+ supply cuts; BP shuts US refinery units
Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a US ...
In isolated Russia, a tale of two economies
Russia’s record employment signals a surprisingly smooth decoupling from the West. Its rapid replacement of McDonald’s and Starbucks says business as usual. Yet pressures are building inside its ...
Unions call for more equitable wealth distribution, seek higher wages
The federation of independent trade unions (Poaso) this week called for an increase in salaries and for the cost-of-living-allowance (CoLA) in Cyprus to be fully reinstated.
CoLA, which refers to ...
Fintech’s next big down round may have an upside
Financial technology startups are facing lean times. Klarna set the tone last month by raising cash at an 85 per cent discount to its previous funding round. The Swedish buy-now-pay-later group ...
Cyprus Business Now
Deputy Minister of Tourism Savvas Perdios on Wednesday said that two major schemes are being prepared that aim to upgrade Cyprus’ tourism product.
These include improving and upgrading services, with ...
European recovery set to stall, outlook cautious
A recent recovery in European shares looks set to stall and not reclaim end-2021 levels for well over a year, capped by fears of an energy supply crunch, slowing growth ...
ECB’s Rehn sees several benefits to possible digital euro
A possible digital euro currency, which the European Central Bank is studying, could have several benefits such as facilitating cross-border payments and providing a digital monetary anchor, Finnish ECB policymaker ...
‘New shock’ for European markets as gas price spike fuels inflation fears
Another dramatic spike in natural gas prices appears to have ended any hopes that Europe’s inflation battle is set to ease, with financial markets now bracing for higher prices, ...
Oil steady as fears of imminent OPEC+ output cut fade
Oil prices were little changed on Wednesday as the market grappled with supply concerns amid the sanctioning of Russian shipments and the initial shock of comments that major producers would ...