What is the European Union AI Act?
The AI Act is expected to be a landmark piece of EU legislation governing the use of artificial intelligence in Europe that has been in the works for over two ...
Safe-havens and risk assets both rise as banking woes shift Fed expectations
Worries over the banking crisis are boosting disparate assets, with traditional safe-havens such as gold, Treasuries and money markets seeing high demand along with more speculative instruments such as tech ...
Russia’s Ozon appeals Nasdaq delisting plan
Russian e-commerce firm Ozon (OZON.O) said on Wednesday it was appealing the Nasdaq stock exchange’s plan to delist its securities and wanted to stand up for the rights ...
UBS buys back nearly $3 billion in bonds issued under a week ago
UBS Group (UBSG.S) said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it issued less than a week ago, seeking to boost confidence among investors ...
Big investor in Credit Suisse bonds says ‘bail-in’ system worked
One of the largest investors of the Credit Suisse bonds that were wiped out in the UBS takeover of the troubled Swiss bank still believes in the value of the ...
UK inflation rate unexpectedly rises to 10.4 per cent in February
British inflation unexpectedly rose to 10.4 per cent in February, pushed up by higher food prices and pricier drinks in pubs and restaurants, official data showed on Wednesday, a day before ...
CySEC joins global event to promote financial literacy
Cyprus’ financial watchdog, the Cyprus Securities and Exchange Commission (CySEC), is participating in the annual Global Money Week (GMW2023) campaign, aimed at raising awareness of the importance of financial education, ...
Cyprus Business Now
Cypriot company Tototheo Maritime on Tuesday announced that co-CEO Despina Panagiotou Theodosiou, co-CEO Sokratis Theodosiou, Chief Operations Officer Natalia Bury Loyal, and Head of Business Development Antonis Maniatis attended the ...
BlackBerry signs up to $900 million patent deal after sale to Catapult collapses
BlackBerry Ltd (BB.TO) said on Tuesday it would sell patents, primarily related to its mobile devices, for up to $900 million after the Canadian software company scrapped an earlier deal ...
Bitcoin passes the bank stress test
As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven.
The infamously volatile cryptocurrency seems positively hale and hearty, just as a ...
Cyprus banks and Junior Achievement educate students on smart spending
The Association of Cyprus Banks on Tuesday announced that it is teaming up with Junior Achievement Cyprus to carry out the “Spending Smartly” educational programme for the eighth consecutive year.
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Britain’s financial industry plans blueprint for post-Brexit ‘kickstart’
Top officials from Britain’s financial sector said on Tuesday they would set out a blueprint later this year to “kickstart” London’s role as a post-Brexit global financial centre ...
Turkey halts transit of sanctioned goods to Russia
Turkey halted the transit of Western-sanctioned goods to Russia this month after a year of war in Ukraine and mounting US and European pressure on Ankara for action, a top ...
Scratched EV battery? Your insurer may have to junk the whole car
For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles – leading ...
Cyprus Business Now
The Cyprus Maritime and Maritime Institute (CMMI) has released a statement saying that it has launched the Adaptation project, which seeks to promote the green transition in the shipping industry.
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Global banking turbulence prompts Wall Street banks to trim hawkish Fed bets
Goldman Sachs is expecting a pause this week from the US Federal Reserve after a year-long rate increase campaign as Wall Street banks scale back their hawkish expectations in the ...
Did SVB break the Fed? Officials mull risks of more rate increases
At an early January meeting of the Virginia Bankers Association, executives were already nervous that Federal Reserve interest rate increases were making it hard to compete for deposits.
“Everywhere I ...
European supervisors say shares should be wiped out before bonds
European supervisors tried to stop a rout in the market for convertible bank bonds on Monday, saying owners of this type of debt would only suffer losses after shareholders have ...
Oil falls more than $2 on banking concerns, likely Fed rate hike
Oil prices fell on Monday to their lowest in 15 months on concerns risks in the global banking sector may cause a recession that would lead fuel demand to decline and ...
US sees deposits stabilizing as some regional banks reel
A US official said on Sunday that the deposit outflows that left many regional banks reeling in the wake of Silicon Valley Bank’s failure had slowed and in some ...
Cyprus’ lenders begin 14th post-programme surveillance mission
The Finance Ministry on Monday said that Cyprus’ lenders, the European Commission, the ECB and the International Monetary Fund, began the 14th post-programme surveillance of the Cypriot economy
According to ...
Bitcoin near 9-month high as bank turmoil sparks rally
Bitcoin hovered near nine-month highs on Monday and has closed out its best week in four years as turmoil in traditional banking drives some investors to turn to digital assets.
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Relief over Credit Suisse deal crumbles as focus shifts to bond risks
Banking stocks tumbled on Monday as initial relief over a historic state-backed rescue of troubled lender Credit Suisse by Swiss rival UBS Group gave way to new worries about the ...
Switzerland wakes to new era after historic bank merger; employees “shocked”
Switzerland awoke on Monday to a new era after UBS (UBSG.S) agreed to take over the ailing Credit Suisse (CSGN.S), with a bank employee association saying it was “...