Last orders: UK pubs brace for mass closures as energy costs soar
Like thousands of pubs across Britain, the Red Lion and Sun fears financial ruin this winter as its energy costs surge, just as business was starting to recover from the ...
Tourism spearheads services sector recovery in second quarter
The accommodation and catering services sector showed the largest annual increase in the turnover index during the second quarter of 2022, reflecting the recovery of the tourism industry, according to a ...
Cyprus Business Now
Deputy minister for shipping Vassilis Demetriades on Wednesday travelled to the Netherlands to support and promote Cypriot shipping through a number of meetings with Dutch shipping companies.
According to an ...
High inflation, recession risk widen ECB dilemma
Euro zone inflation jumped to another record high and will soon hit double-digit territory, heralding a string of big interest rate hikes even as a painful recession appears increasingly certain.
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Amazon, Google slam Microsoft’s cloud computing changes
Amazon (AMZN.O) and Alphabet (GOOGL.O) unit Google criticised Microsoft’s (MSFT.O) cloud computing changes on Tuesday, saying they limit competition and discourage customers from switching to rival ...
Bank of Cyprus posts €50 mln half-year profit
The Bank of Cyprus on Wednesday released its financial results for the first half of 2022, posting a profit after tax of €50 million, marking a significant improvement over the €1 million loss ...
Oil prices climb 1 per cent as US fuel inventories fall
Oil prices recovered slightly on Wednesday as data pointed to firm US fuel demand, providing respite after a 5 per cent drop a day earlier on fears that demand will suffer ...
Russia gives 12.5 per cent stake in Sakhalin Energy to Mitsui unit
The Russian government on Tuesday said it approved handing over a 12.5 per cent stake in operator of Russia’s Sakhalin 2 liquefied natural gas plant to Dubai-based MIT SEL Investment Ltd, ...
‘Developing markets can benefit from medical tourism boom’
During the previous week, Deputy Minister of Tourism Savvas Perdios spoke on two government schemes that seek to bolster Cyprus’ tourism product, with particular focus on the healthcare and wellness ...
Musk’s bold goal of selling 20 million EVs could cost Tesla billions
Tesla Inc (TSLA.O) Chief Executive Elon Musk has set his young company on an aggressive expansion path like no other auto executive has dreamed – but one riddled with potholes ...
Rouble firms in early Moscow trade, Russian stocks hit 2-month high
The rouble firmed towards 60 against the dollar and euro in early Moscow trade on Tuesday, while higher oil prices helped push Russia’s benchmark stock index to its highest point ...
Cyprus Business Now
Total petroleum product sales in Cyprus experienced a slight drop in July, with sales from gas station pumps falling for the second month in a row, according to a report ...
Bleeding bitcoin’s holding out for a hero
Who can save bitcoin?
The world’s biggest cryptocurrency can’t seem to catch a break. It finally looked to be regaining strength this month, breaching $25,000 for the first time ...
Euro zone economic sentiment falls more than expected in August
Euro zone economic sentiment fell more than expected in August, data showed on Tuesday, dragged lower by a drop in optimism in industry and in services despite a better mood ...
Surging energy prices create perfect storm for UK bonds
British government bonds are on course for their biggest monthly fall since 1994, as surging energy prices create a perfect storm of higher inflation, tighter monetary policy and the prospect of ...
Oil edges down as inflation expected to impact fuel demand
Oil prices dipped on Tuesday, paring some gains from the previous session, as the market feared that more aggressive interest rates hikes from central banks may lead to a global ...
Honda Motor, LG Energy to build $4.4 bln US EV battery plant
Japan’s Honda Motor Co (7267.T) will build a new $4.4 billion lithium-ion battery plant for electric vehicles in the United States with Korean battery supplier LG Energy Solution Ltd (373220.KS), ...
Uncollected taxes in Cyprus estimated at €2 billion
A number of loopholes and weaknesses in how rules are enforced have resulted in the delay of millions of euros in taxes being collected, according to a report released this ...
Ericsson to wind down business activities in Russia over coming months
Ericsson (ERICb.ST) said on Monday it will gradually wind down business activities in Russia over the coming months as the Swedish telecoms equipment maker completes its obligations to customers.
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Tourism revenue exceeds €800 million in first half of the year
Tourism revenue reached €835.7 million in the first half of 2022, reflecting a significant increase compared to the corresponding period of 2021, according to a report released on Monday by the Cyprus Statistical ...
Pain of breaking inflation will reverberate around the globe
The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a ...
Biden’s student loan forgiveness may erase savings of climate, drugs law
President Joe Biden’s controversial plan to forgive up to $20,000 in student loans for tens of millions of Americans could erase the projected $300 billion deficit reduction that his hard-fought climate, ...
Influencers who are pioneering the world’s most important innovations
Pioneering innovators tend to share one common trait. They have a strong drive that pushes them towards seeing the state of things as they are in the present and how ...
Singapore says retail investors ‘irrationally oblivious’ to crypto risks, plans tougher rules
Singapore is planning to roll out new regulations that will make it more difficult for retail investors to trade cryptocurrencies at a time when they seem to be “irrationally oblivious” ...