Cyprus Business Now
The Cyprus Shipping Chamber (Kne) held its monthly general meeting on Wednesday, during which it closely examined and discussed the eighth package of sanctions against Russia, as it is expected ...
Credit Suisse flags hefty loss as rich clients leave
Credit Suisse (CSGN.S) expects a pre-tax loss of up to 1.5 billion Swiss francs ($1.58 billion) in its fourth quarter as it keeps bleeding cash, the Swiss bank said on Wednesday, ...
TikTok on ‘high alert’ in Malaysia as tensions rise over election wrangle
Short video platform TikTok said on Wednesday it was on high alert for content that violates its guidelines in Malaysia after authorities warned of a rise in ethnic tension on ...
Sony to expand Chinese game incubator in Microsoft head-to-head
Sony Group Corp (6758.T) said it plans to expand a programme to identify and incubate Chinese-made games, in a race with Microsoft Corp (MSFT.O) to tap China’s gaming ...
Crypto world: Let’s talk about decentralized exchanges
As the crypto castle crumbles, some true believers say the answer is to double down on DEX. Decentralized exchanges, that is.
The spectacular collapse of Sam Bankman-Fried’s FTX, a ...
Foreclosure suspension akin to ‘shooting ourselves in the foot’
Finance Minister Constantinos Petrides on Wednesday described the recent decision by the House of Parliament to suspend the foreclosure bill as “shooting ourselves in the foot”, noting that the only ...
Elon Musk names South Korea among top candidates for EV investment
Tesla (TSLA.O) chief executive Elon Musk said on Wednesday that South Korea was among its top candidate locations for a factory it plans to build in Asia for making ...
FTX was run as ‘personal fiefdom,’ faces hacks, missing assets, attorneys say
FTX was run as a “personal fiefdom” of former CEO Sam Bankman-Fried, attorneys for the collapsed crypto exchange said in its first bankruptcy hearing as they detailed ongoing challenges such ...
Oil prices edge higher as large US crude stock drop outweighs China demand worries
Oil prices inched higher on Wednesday as data showing a larger-than-expected US crude drawdown last week outweighed concerns about lower fuel demand from China amid tightening COVID-19 curbs.
Brent crude ...
Saudi Arabia says it is close to making $5 billion deposit with Turkey
Saudi Arabia and Turkey are discussing Riyadh placing a $5 billion deposit at Turkey’s central bank, a Saudi Ministry of Finance spokesperson said on Tuesday.
“We are in final discussion ...
Zoom shares down 90 per cent from peak as pandemic boom fades
Shares of Zoom Video Communications Inc (ZM.O) have tumbled about 90 per cent from their pandemic peak in October 2020 as the former investor darling struggles to adjust to a post-COVID ...
Live Nation, Ticketmaster may need breakup, some senators say
Ticketmaster and owner Live Nation Entertainment, the events ticketing giant behind the recently botched sale of Taylor Swift concert tickets, should be broken up by the Department of Justice if ...
Business leaders stress importance of air connectivity
The vast majority of European business leaders have underlined the importance of air connectivity in terms of sustaining their competitiveness, according to a survey conducted by the International Air Transport ...
Kedipes chairman: ‘foreclosure bill will affect ability to repay the state’
State-owned asset management company Kedipes chairman Lambros Papadopoulos on Tuesday said that frequent interventions in the foreclosure framework will negatively affect the company’s ability to generate cash inflows.
The ...
Cyprus Business Now
The Cyprus Shipping Chamber (Kne) this week released a statement in which it welcomes the publication of a review of Cyprus’ economic policy by the Centre for Economic Research of ...
Europe to be hit hardest in global slowdown
The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the OECD said, adding ...
Teva and Sandoz make major push to biosimilars
Generic drug makers Teva Pharmaceutical Industries and Sandoz say they are planning a significant ramp-up in production of biosimilars – copies of high-priced drugs used to treat illnesses such as rheumatoid ...
Oil rises as Saudi comments outweigh recession concerns
Oil rose on Tuesday after top exporter Saudi Arabia said OPEC+ was sticking with output cuts and could take further steps to balance the market, outweighing global recession worries and ...
CySEC warns investors of staff impersonation and fake websites
The Cyprus Securities and Exchange Commission (“CySEC”) has warned investors about incidents of impersonation of its officers and representatives and of fake websites.
According to a CySEC press release, it ...
Cyprus real estate to be showcased in Israel
Events and conference management firm the Emanuel Group on Tuesday announced that it will be hosting an event in Israel aiming to showcase Cyprus properties to the country’s domestic ...
UK government borrows less than expected in October, but worse to come
Britain’s government borrowed less than expected in October, data showed on Tuesday, although the budget deficit is likely to balloon in the months ahead thanks to energy bill support ...
Bankman-Fried’s FTX, parents bought Bahamas property worth $121 mln
Sam Bankman-Fried’s FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official ...
Crypto lender Genesis says no immediate plans to file for bankruptcy
Cryptocurrency lender Genesis said on Monday it has no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX forced it to suspend customer redemptions.
“We ...
Cyprus consumer watchdog issues guidance on Black Friday
The Cyprus Consumers’ Association on Monday released a statement on the upcoming Black Friday sale, calling on consumers to conduct thorough market research ahead of any purchases of potentially discounted ...