Thai lender SCBX scraps $500 mln acquisition of crypto exchange Bitkub
Thailand’s oldest lender, SCBX Pcl (SCB.BK), said on Thursday it was pulling out of a $500 million deal to buy crypto exchange Bitkub, saying the start-up needed time to ...
Currency tops list of challenges for Egypt’s new central bank governor
Egypt’s new central bank governor, Hassan Abdalla, faces a daunting task as he tries to repair an economy derailed by an overvalued currency, rampant inflation and a banking system ...
Oil prices rise on signs of improving demand, gain 3 per cent on week
Oil prices rose as much as $1 on Friday on signs of improving fuel demand, although further gains were capped as the market awaited clues from the US Federal Reserve chairman ...
Fertiliser makers cut output as gas prices surge
Norway’s Yara (YAR.OL), one of the world’s largest fertiliser makers, is cutting ammonia production in Europe further because of the surge in gas prices, following other manufacturers.
...
Abercrombie cuts sales forecast as Hollister falls out of fashion
Abercrombie & Fitch Co on Thursday cut its full-year sales and margin forecasts after reporting a surprise quarterly loss, underscoring increasing competition for consumer dollars amid surging inflation.
Shares of ...
ECB accounts show inflation concerns intensifying
European Central Bank policymakers meeting last month appeared increasingly concerned that high inflation was getting entrenched, even as the risk of a recession loomed in the bloc, the accounts of ...
US consumers borrow at record levels as car prices surge
US consumers are responding to surging prices for new cars and trucks by going deeper into debt, pushing the average new vehicle loan to a record-high $40,290 during the second quarter, ...
Cyprus Business Now
Deputy minister of shipping Vassilis Demetriades on Thursday met with Panama’s director of the general directorate of seafarers, captain Juan Maltez, and the ambassador of Panama Julie Lyberopoulos, in ...
Saudi Arabia to invest $1 billion in Pakistan – Saudi state TV
Saudi Arabia plans to invest $1 billion in Pakistan, Saudi state TV reported on Thursday.
Saudi King Salman bin Abdulaziz had given the directive for the kingdom to support the Pakistani ...
Europe’s Wizz Air considering a Saudi operating license
European budget carrier Wizz Air (WIZZ.L) is considering basing an airline in Saudi Arabia as part an agreement signed with the government this year to develop the kingdom’s ...
Oil prices rise on potential OPEC+ supply cuts; BP shuts US refinery units
Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a US ...
Greece’s Aegean Airlines in code sharing deal with Emirates
Greece’s largest carrier Aegean Airlines (AGNr.AT) said on Wednesday it had struck a so-called code sharing agreement with Emirates, allowing both companies to offer more destinations to their ...
ECB’s Lagarde: climate change has clear impact on inflation
The European Central Bank needs to take climate change into account when making decisions as it has a clear impact, especially on inflation, the chief of the European Central Bank ...
Sony hikes PS5 price on rising interest rates
Sony Group Corp (6758.T) said on Thursday it was hiking the price of its PlayStation 5 games console in markets including Europe, Japan and Britain following economic pressures including rising interest ...
NFTs worth $100 million stolen in past year, Elliptic says
Thieves stole over $100 million worth of non-fungible tokens in the year to July, blockchain research firm Elliptic said on Wednesday, as the fast-emerging digital asset became a new front in ...
Fintech’s next big down round may have an upside
Financial technology startups are facing lean times. Klarna set the tone last month by raising cash at an 85 per cent discount to its previous funding round. The Swedish buy-now-pay-later group ...
Cyprus Business Now
Deputy Minister of Tourism Savvas Perdios on Wednesday said that two major schemes are being prepared that aim to upgrade Cyprus’ tourism product.
These include improving and upgrading services, with ...
European recovery set to stall, outlook cautious
A recent recovery in European shares looks set to stall and not reclaim end-2021 levels for well over a year, capped by fears of an energy supply crunch, slowing growth ...
ECB’s Rehn sees several benefits to possible digital euro
A possible digital euro currency, which the European Central Bank is studying, could have several benefits such as facilitating cross-border payments and providing a digital monetary anchor, Finnish ECB policymaker ...
Oil steady as fears of imminent OPEC+ output cut fade
Oil prices were little changed on Wednesday as the market grappled with supply concerns amid the sanctioning of Russian shipments and the initial shock of comments that major producers would ...
Russian stocks to pare some heavy losses by year-end
Russia’s stock market will pare some of its heavy 2022 losses by the end of the year, according to a Reuters poll of ten market experts, having fallen sharply after ...
Egypt directly buys 240,000 tonnes of Russian wheat
Egypt’s state grains buyer directly purchased 240,000 tonnes of Russian wheat on Monday, the supply ministry said in a statement to Reuters, continuing its recent trend of buying without issuing ...
AstraZeneca on hunt for deals, but may not stay in vaccines
AstraZeneca may not stay in the vaccine business in the long run and is looking to buy small and mid-sized companies specialising in oncology and cardiovascular treatments, Chief Executive Pascal ...
Cryptoverse: A mixer with your crypto cocktail?
The DeFi dream is shaken. And stirred.
The grand crypto project has declined in 2022: total user funds deposited in decentralized finance has shrunk to about $61 billion from over $170 billion at ...