SoftBank’s Arm rebuffs London by choosing US listing over UK
British chip technology firm Arm Ltd, owned by Japan’s SoftBank (9984.T), said on Friday it would pursue a US-only listing this year, dashing the hopes of the British government ...
Funds Association wants to bridge academia with the labour market
The Cyprus Investment Funds Association (CIFA) on Thursday announced that it has signed a memorandum of understanding with the University of Nicosia, with the two parties seeking to bolster their ...
Cyprus Business Now
Cyprus’ Gross Domestic Product (GDP) is estimated to have reached €27 billion at the end of 2022, compared to €24 billion in 2021, at current prices, according to a report released this week by ...
Australia’s DIY pension funds lose millions on crypto bets, investors not sweating it
Thousands of Australians who used do-it-yourself (DIY) pension funds to bet on cryptocurrencies face hundreds of millions of dollars in losses, jeopardising their savings in a scheme originally set up ...
Turkish auto sales jump 63.4 per cent in February
Sales of passenger cars and light commercial vehicles in Turkey rose 63.4 per cent year-on-year in January to 81,148 units, the Automotive Distributors and Mobility Association said on Thursday.
In the January-February ...
TechIsland equips fire-stricken school class with computers
The non-profit organisation TechIsland has previously rebuilt the Regional Primary School in Arakapas, which suffered from a terrible wildfire. The organisation has invested more than €200,000 in renovating the school.
TechIsland ...
Cyprus to become a protagonist of technological developments
The new Deputy Minister of Research, Innovation and Digital Policy Philippos Hadjizacharias took over the portfolio of the Deputy Ministry of Research, Innovation and Digital Policy during a brief ceremony ...
Tesla vows to halve EV production costs, Musk keeps affordable car plan under wraps
Tesla Inc (TSLA.O) will cut assembly costs by half in future generations of cars, engineers told investors on Wednesday, but Chief Executive Elon Musk did not unveil when it ...
Goldman warns of possible pre-election currency market turmoil in Turkey
Goldman Sachs has warned of the potential for foreign exchange market instability in the run up to Turkey’s elections following years of currency reserve depletion and other costly measures.
...
Egypt to use daylight saving time again in a bid to save energy
Egypt will again use daylight saving time this summer after a seven-year gap, the cabinet said on Wednesday, the latest in a series of government efforts to save energy.
Last ...
Traders relaxed as ECB starts running down massive bond holdings
Strong investor inflows into bond markets this year mean traders and bankers are confident the European Central Bank will have a smooth start to unwinding its huge bond holdings, but ...
Cyprus Business Now
The business turnover index in Cyprus experienced increases across all sectors of economic activity during 2022, compared to the previous year, according to a report released this week by the Cyprus ...
Investors pull around $6 billion out of Binance’s stablecoin
Binance’s stablecoin, Binance USD, has seen around $6 billion of outflows following a US regulatory crackdown on the company that issues the token, according to market tracker CoinGecko.
Paxos Trust ...
Bitcoin moves towards Satoshi’s payment dream
Satoshi Nakamoto would be proud. Adolescent bitcoin may finally be repaying its creator’s faith.
The 15-year-old cryptocurrency has filled many roles – from source of speculation to hedge against inflation – ...
Lilly to cut insulin prices by 70 per cent from fourth quarter
Eli Lilly and Co (LLY.N) said on Wednesday it would reduce prices by 70 per cent for its most commonly prescribed forms of insulin.
The US drugmaker said the reduced ...
Who is the new Deputy Minister of Research & Innovation
As was recently announced, the new Deputy Minister of Research, Innovation and Digital Policy is Philippos Hadjizacharias.
Hadjizacharias is the managing partner of the consulting and audit firm PHS & ...
Tesla readies revamp of Model Y codenamed ‘Juniper’
Tesla (TSLA.O) is readying a production revamp of its top-selling Model Y, according to three people with knowledge of the plan.
The changes to the Model Y – code-named Project ...
Euro zone factory output returned to growth in February
Overall activity in the euro zone’s manufacturing sector contracted again in February but output increased for the first time since May as supply chains continued to heal, a survey ...
OnlyFans loses UK VAT fight at EU top court
OnlyFans, an online platform known for adult content, should pay UK value added tax (VAT) on the full amount paid by subscribers to content creators, not only its 20 per cent ...
Britain’s M&S lifts store worker pay by 7 per cent citing rising living costs
British retailer Marks & Spencer will raise hourly pay for over 40,000 store workers by 7 per cent from April a third rise in just over two years that may catch the ...
Intel releases software platform for quantum computing developers
Intel Corp (INTC.O) on Tuesday released a software platform for developers to build quantum algorithms that can eventually run on a quantum computer that the chip giant is trying ...
Britain’s Sainsbury’s to close two depots, 1,400 jobs affected
British supermarket group Sainsbury’s (SBRY.L) plans to consolidate five existing Sainsbury’s and Argos general merchandise depots into three, closing two by 2026, in a move that will impact 1,400 ...
Cuba’s top cigar maker puffs out more sales, led by European buyers
Sales at Cuban cigar maker Habanos rose 2 per cent last year compared with the previous year, the company announced on Monday, as it recovers business following the COVID-19 pandemic and ...
Why are UK energy bills for consumers still rising?
British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but this will offer little relief to consumers as energy costs continue to rise.
...