Murmurs of ‘sterling crisis’ no longer fanciful
By Mike Dolan
Even though fears of another “sterling crisis” have been wide of the mark for decades, they are harder to bat away this time around as a fourth ...
Oil slides to 7-mth low on renewed demand fears, rate hike expectations
Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes ...
UK heads for return to “trickle-down” economics under low-tax Truss
New British Prime Minister Liz Truss and her finance minister Kwasi Kwarteng look set to revive Margaret Thatcher’s 1980s experiment in “trickle-down” low-tax economics, the results of which have ...
Cyprus banks tighten lending criteria due to geopolitical uncertainty
The Central Bank of Cyprus (CBC) on Tuesday announced that it has recorded a tightening of lending criteria, combined with a decline in net demand for loans, during the second ...
Cyprus Business Now
A bill to regulate matters concerning start-ups and their investments is expected to be submitted to the House of Representatives within this year, according to an update received on Tuesday ...
Inside Tesla’s drive to keep Musk’s battery promise
The secret behind Elon Musk’s goal of selling 20 million Tesla’s a year by 2030 lies in its pioneering battery technology.
The good news is that by using bigger cells ...
OPEC+ seems to want $90 crude oil. It may end up defending $50: Russell
By Clyde Russell
It’s tempting to dismiss the decision by the OPEC+ group to cut crude oil production by 100,000 barrels per day (bpd) in October as a statistical insignificance ...
Big rate hike won’t save euro as energy shock deepens
The hit to the euro zone economy and its currency from a deepening energy crisis is so severe that more aggressive monetary tightening from the European Central Bank will do ...
Oil prices inch lower on symbolic OPEC+ output cut
Oil prices edged lower on Tuesday, paring gains from the previous session, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely ...
Sterling shows signs of life as Truss hints at energy relief
Sterling lifted on Tuesday as media reports offered new details on how incoming Prime Minister Liz Truss is planning to tackle Britain’s growing energy crisis.
Household bills are due ...
Volkswagen triggers landmark Porsche IPO plan, defying market doubts
Volkswagen (VOWG_p.DE) on Monday announced its intention to float sports car brand Porsche, triggering what could become one of the world’s largest listings even as record inflation ...
Euro plunges to new 20-year low after Russian gas halt
The euro sank below $0.99 to a new 20-year low on Monday after Russia’s halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy ...
OPEC+ agrees small oil production cut
OPEC and its allies led by Russia on Monday agreed a small oil production cut to bolster prices that have slid on fears of an economic slowdown.
The oil producers ...
UK clears NortonLifeLock’s acquisition of rival Avast
Britain’s competition regulator finally cleared NortonLifeLock’s (NLOK.O) acquisition of British rival Avast (AVST.L)on Friday, saying the security software market would remain competitive after the $8.6 billion ...
Europe’s alternatives if Russia shuts off gas supply
The Nord Stream 1 pipeline that transports Russian gas to Germany will undergo further maintenance, Gazprom said on Friday after scrapping a Saturday deadline to resume flows, deepening Europe’s difficulties ...
Italy’s costs to import energy will double to 100 billion euros
Italy’s net energy import costs are set to more than double this year to nearly 100 billion euros ($99.5 billion), the economy minister said, warning Rome could not spend indefinitely to ...
Green aviation takes wing with electric aircraft designs
With the overall rapid growth of air travel, aircraft design is ripe for decarbonisation, but widespread electric flight requires better batteries and lightweight systems By Gareth Willmer As the aviation ...
Carob producers call for more incentives as export spikes
Visitors to Cyprus would find it hard not to have noticed herds of goats chewing away on a dark, boomerang-shaped carob, or not sampled the dark velvety syrup, drizzled on ...
High energy prices here to stay
The EU has finally woken-up to the seriousness of the problem
High energy prices are here to stay for many years to come. Last week, Shell’s CEO, Ben van ...
Misguided policies aggravating euro area problems
Cyprus borrowed heavily with low-cost bond issues to finance their excessive current expenditures
Economic and financial crises in the euro area are fast developing. With supply-side problems most strikingly reflected ...
Meta, Qualcomm sign pact on custom virtual reality chips
Meta Platforms Inc (META.O) signed an agreement to have chip-maker Qualcomm Inc (QCOM.O) produce custom chipsets for its Quest virtual reality (VR) devices, the companies announced at a ...
Amid US retail gloom, Uniqlo shines on COVID-triggered revamp
Just as inflation ravages the big guns of US apparel retail, awash in high inventory and deep discounts to lure shoppers back to stores, Japan’s Uniqlo is set for ...
Adoption of the minimum wage in Cyprus: implications and preconditions for successful implementation
By Andreas Charalambous
The Government of the Republic of Cyprus, following a prolonged dialogue with employers’ associations and trade unions, announced the adoption of a national wide minimum wage. The ...
Exxon, Shell sell California oil assets for $4 billion to IKAV
Exxon Mobil Corp (XOM.N) and Shell Plc (SHEL.L) on Thursday confirmed the sale of their California oil joint-venture Aera to German asset manager IKAV for $4 billion, ending a 25...