Cyprus Business Now
The Cyprus Chamber of Commerce and Industry (Keve) this week announced that a tripartite business mission to Almaty, Kazakhstan is set to take place on 16-19 May 2023.
The mission, which ...
Cyprus and Vietnam explore business opportunities
The Cyprus Chamber of Commerce and Industry (Keve) and the Cyprus-Southeast Asia Business Association this week announced that they came together to organise the first business mission and forum in ...
Amazon sees cloud slowdown in April, shares erase gains
Amazon.com Inc (AMZN.O) signaled on Thursday its long lofty cloud growth would slow further as its business customers braced for turbulence and clamped down on spending, overshadowing the ...
Etihad Airways plans to triple passengers, double fleet amid strategy shift
Abu Dhabi-based Etihad Airways aims to triple the number of passengers it carriers to 30 million and nearly double its fleet to 150 planes by the end of the decade, the airline’...
NatWest beats profit forecasts despite UK inflation squeeze
British bank NatWest (NWG.L) posted better than expected profit for the first three months of 2023 as income soared 37 per cent, even as inflation hammered households and fierce pricing competition ...
World’s biggest bond markets left picking up the pieces after March mayhem
In mid-March, as prices for US Treasury bonds swung wildly following the collapse of Silicon Valley Bank, the trading desk at Legal & General Investment Management hit its top limits ...
Cyprus and Poland deepen ties through business and tech event
The Cyprus Chamber of Commerce and Industry (Keve), in collaboration with the Polish Cypriot Chamber of Commerce, this week held a business event titled “IT for security and security for ...
Cyprus Business Now
The total sales of petroleum products in Cyprus decreased by 6.7 per cent in March 2023, compared to the same month in 2022, while showing an increase of 3.7 per cent compared to February 2023, ...
Cyprus economic sentiment and consumer climate worsened in April
The Economic Sentiment Index (ESI) for Cyprus decreased by 2.8 points in April 2023, compared to the previous month, indicating a worsening of economic sentiment, according to a report by the Centre ...
Cyprus trade deficit reached €7.1 billion in 2022
Cyprus’ trade deficit for 2022 amounted to €7.1 billion, according to a report released this week by the Cyprus Statistical Service (Cystat).
The report revealed that the main trading partner for Cyprus ...
Egypt’s economy seen growing 4 per cent this fiscal year as currency weakens
Egypt’s economy will grow 4.0 per cent this fiscal year and 4.5 per cent next even as it endures a continuing depreciation in its currency, a Reuters poll showed on Thursday, ...
Toyota edges past 9.1 mln vehicle output goal, warns chip shortage lingering
Japan’s Toyota Motor Corp (7203.T) set a global annual output record in the business year ended in March, just edging past its target of 9.1 million vehicles as factory disruption ...
President to attend Invest Cyprus event at economic forum in Greece
National investment promotion agency Invest Cyprus on Thursday announced that it will be holding an event at the Delphi Economic Forum in Greece to promote the country and attract new ...
Barclays beats profit expectations on credit card boom
Barclays reported better than expected first-quarter profit on Thursday after a strong performance from its credit card business offset pressure on other business lines.
The British bank’s pretax profit ...
Deutsche Bank posts better-than-expected profit; flags job cuts
Deutsche Bank (DBKGn.DE) reported a better-than-expected 9 per cent rise in first-quarter profit on Thursday as income from higher interest rates offset a slump in revenues at the investment bank, ...
Tech CEOs wax poetic on AI, big adds to sales will take time
Microsoft Corp (MSFT.O) and Google-parent Alphabet Inc (GOOGL.O) talked up investments in artificial intelligence (AI) for the second quarter in a row but their results on Tuesday suggested ...
Cyprus Business Now
The state’s Public Debt Management Office this week explained that the interest rate risk for the debt of the Republic of Cyprus remains subdued, despite the ongoing increase in ...
Bankrupt crypto firm FTX to sell LedgerX for $50 million
FTX has reached an agreement to sell its crypto derivatives platform LedgerX LLC to an affiliate of Miami International Holdings Inc for $50 million, the bankrupt crypto exchange said on Tuesday.
...
Israel’s sovereign wealth fund gets full-time manager
The Bank of Israel on Monday named Lena Krupalnik, a veteran institutional investment manager, to oversee the country’s sovereign wealth fund which was set up in 2014 following the discovery ...
EU agrees binding green fuel targets for aviation
The European Union has agreed a deal to set binding targets for airlines in Europe to increase their use of sustainable aviation fuels, in an attempt to kickstart a market ...
S&P expects improved efficiency and profitability for Bank of Cyprus
International credit rating agency S&P Global Ratings (S&P) on Wednesday upgraded the Bank of Cyprus and revised its outlook from stable to positive, citing the bank’...
More bank jitters as First Republic probes asset sales, ‘bad bank’ options
First Republic Bank (FRC.N) faces dwindling and tough options to turn around its business with the creation of a ‘bad bank’ or asset sales possibilities, a source familiar with ...
Putin signs decree taking over Russian assets of two foreign firms
President Vladimir Putin on Tuesday signed a decree establishing temporary control of the Russian assets of two foreign energy firms, signaling Moscow could take similar action against other companies if ...
Turkey Central Bank gross reserves seen down $5 bln last week
Turkish central bank total gross reserves are expected to have fallen more than $5 billion to about $116 billion last week due to rising foreign currency demand as the May elections approach, ...