Lone Star will not submit new bid for Bank of Cyprus (updated)
Private equity firm Lone Star, in a statement issued on Tuesday to the London Stock Exchange, said that it is not intending to submit a revised offer for the acquisition ...
Oil rises as focus turns to possible supply cuts
Oil prices rose more than 1 per cent on Tuesday, after plunging to nine-month lows a day earlier, amid indications that producer alliance OPEC+ may enact output cuts to avoid a ...
Reversing UK confidence crash requires policy U-turn: economists
Rock-bottom investor confidence in Britain will only recover with a U-turn of the economic plan announced last week by finance minister Kwasi Kwarteng, US economist Larry Summers and J.P. ...
Cyprus tourism should always be assessed and improved
The Association of Cyprus Tourist Enterprises (Stek) on Monday said that ‘rethinking tourism’, the key theme of this year’s World Tourism Day, highlights the importance of the continuous improvement ...
A history of UK currency crises and crashes
Britain’s pound plunged to an all-time low early on Monday as international investors reacted to plans laid out by the country’s new prime minister and finance minister to ...
Cyprus ranked 29th in retirement security
Investment management company Natixis has ranked Cyprus in 29th place in its global retirement index for 2022, with a total score of 62 per cent.
“The Global Retirement Index (GRI) is a ...
Cyprus Business Now
Cypriot company Louis Plc this week announced that it has recorded a significant improvement in its operational revenue during the first half of 2022, reaching €32.5 million during this time, compared to €6.2 ...
Group of countries to push EU for gas price cap
A group of European Union countries want to push Brussels to produce plans this week for a bloc-wide cap on the price of gas, according to a draft letter seen ...
With eye on Big Tech, energy crisis, EU telcos call for shared network costs
Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and 13 other European telecoms providers on Monday made their strongest push for Big Tech to share network costs, citing the ...
Economy and Competitiveness Council presents long-term strategy ‘Vision 2035’ to MPs
“Cyprus should be one of the best places in the world to live, work and be active” is the vision on the basis of which the Cyprus Economy and Competitiveness ...
Energy, inflation crises risk pushing big economies into recession, OECD says
Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into ...
Companies potentially affected by Italy’s election
A right-wing alliance led by Giorgia Meloni’s Brothers of Italy party looks set to win a clear majority in the next parliament, exit polls said on Sunday after voting ...
Oil prices fall for a second day on concerns for expected recession
Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by rising worldwide interest rates and as a surging ...
UK home asking prices rise, tax cuts to spur demand
Asking prices for British homes advertised rose solidly this month and last week’s cut to property purchase tax announced by finance minister Kwasi Kwarteng could fuel demand further, property ...
Pound plunge the latest ill omen as stocks slide
Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain’s plan to borrow its way ...
UK bonds and pound at centre of storm as tax shock hammers confidence
Britain’s bond market suffered its biggest daily fall in decades on Friday and is expected to slump further, as investors choked on the prospect of hundreds of billions of ...
Inflation, spending cuts undermine Biden’s hunger policy
Grace Melt made her first visit to the Nourishing Hope food pantry on Chicago’s North Side in August. Throughout the COVID-19 pandemic, she used food stamps issued by the ...
Brokerages jump on report SEC stops short of banning PFOF deals
Shares of retail brokerage Robinhood Markets Inc and market maker Virtu Financial (VIRT.O) jumped following a media report that the US Securities and Exchange Commission (SEC) will stop short ...
Crypto exchange Kraken has no US SEC registration plans, says incoming CEO
Cryptocurrency exchange Kraken has no plans to delist tokens the US Securities and Exchange Commission has labelled as securities, or to register with the agency as a market intermediary, said ...
Cyprus’ shipping industry to become more efficient and competitive
Earlier this year, Cyprus Shipping Deputy Minister Vassilios Demetriades announced a new piece of legislation that would enable the creation of a limited liability company to be used exclusively for ...
Toyota Motor to close its factory in Russia
Japan’s Toyota Motor Corp (7203.T) said on Friday that it had decided to end vehicle production in Russia due to the interruption in supplies of key materials and parts.
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Ericsson says no hardware exported to Russia, only software support
Ericsson (ERICb.ST) said on Friday it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the ...
Russia’s SWIFT alternative expanding quickly this year, central bank says
The reach of Russia’s alternative to the SWIFT international messaging system has grown at record pace this year, the central bank said on Friday, as Moscow ramps up efforts ...
European Union: a cold winter
By Maria Demertzis
According to current estimates, the European Union spends about 9 per cent of its gross domestic product on energy consumption. As a proportion of its income, this is ...