Confronting the inflation beast: Five questions for the ECB
The European Central Bank looks all but certain to announce on Thursday that its years of bond-buying stimulus are over and that high inflation means interest rate rises are imminent.
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Turkish lira slips again; Nebati says rates to stay put
Turkey’s lira slid to beyond 16.55 against the dollar on Monday, bringing its losses to more than 20 per cent this year, due to concerns about a surge in inflation to ...
Russian firm sues to regain access to Australian aluminium refinery
Russian aluminium producer Rusal (RUAL.MM) has filed a lawsuit against global miner Rio Tinto (RIO.AX), seeking to win back access to its 20 per cent share of the alumina ...
Regulating crypto assets would protect ‘the rest of us’: Fed’s Waller
Better regulation of the fast-growing world of crypto assets is needed not to keep rich people from losing money but for the sake of everyone else, Federal Reserve Governor Christopher ...
Elon Musk backtracks on job cuts, says Tesla salaried staff to be ‘fairly flat’
Tesla Inc (TSLA.O) Chief Executive Elon Musk said on Saturday that the electric vehicle maker’s total headcount will increase over the next 12 months, but the number of salaried ...
Mercedes to recall about 1 million older models worldwide
Mercedes-Benz (MBGn.DE) is recalling almost a million older cars from around the world due to possible problems with the brake booster, the company said on Saturday.
Models of the ...
Crypto scam victims lose more than $1 billion since 2021, FTC says
More than 46,000 people reported losing over $1 billion in cryptocurrency scams since the start of 2021, the Federal Trade Commission (FTC) said in a report on Friday.
Nearly half the people who ...
Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment
Tesla (TSLA.O) CEO Elon Musk’s “super bad feeling” about the economy could be the auto industry’s “canary in the coal mine” moment, signaling a recession for an ...
Explainer: Russia walks the plank to a foreign bond default
Russia’s failure to send an interest payment to creditors is triggering a payout on debt insurance, taking the country another step closer to its first default on international bonds ...
Oman oil discoveries to boost production by up to 100,000 barrels, minister says
Oman has made new oil discoveries that will raise its production by 50,000 to 100,000 barrels in the coming two to three years, the state news agency said on Saturday, citing energy ...
Cyprus to become East Med data hub
By Yiannis Seitanidis
The deal between Greece and Saudi Arabia agreed earlier this week to launch a joint venture to lay fibre optic data cable that will link Europe with ...
Turbulence ahead for Turkey and the West
By Luigi Scazzieri
Turkey’s objections to Finland and Sweden joining NATO have put the spotlight on Ankara’s role in the alliance. Even if a compromise is found, Turkey’...
Cyprus Business Now
The Cyprus Chamber of Commerce and Industry (Keve) earlier participated and presided over the first annual general meeting of the Association of Balkan Chambers for 2022.
The Association of Balkan Chambers ...
Procurement agreements can help public sector modernisation
Chief Scientist and Research and Innovation Foundation president Nikolas Mastroyiannopoulos on Wednesday praised the role of the state in fostering innovation and promoting the use of technologically advanced solutions in ...
As Shanghai reopens, California ports prepare for cargo surge
California port leaders expect imports to rise as Shanghai, home to the world’s busiest seaport, emerges from a two-month COVID-19 lockdown.
The question is whether that release of pent-up ...
German exports get 4.4 per cent boost in April despite dwindling trade with Russia
German exports rose more than forecast in April, rising by 4.4 per cent on the previous month, while imports increased by 3.1 per cent, according to data released by the Federal Statistical ...
Feeling ‘super bad’ about economy, Musk wants to cut 10 per cent of Tesla jobs
Tesla (TSLA.O) CEO Elon Musk has a “super bad feeling” about the economy and wants to cut about 10 per cent of jobs at the electric carmaker, he said in ...
YouTube could be liable for unauthorised uploads if slow to act, German court rules
Google’s (GOOGL.O) YouTube and other platforms could have to pay copyright damages over unauthorised uploads even if the content was put online by a third party, Germany’s ...
Cyprus Business Now
Business deposit rates fell further in April, turning negative for the first time in the history of the banking system, according to a report by the Central Bank released on ...
The Bolsheviks to Putin: a history of Russian defaults
In 1918, Soviet revolutionary Leon Trotsky told Western creditors aghast at the Bolsheviks’ repudiation of Russia’s external debt: “Gentlemen, you were warned.”
He reminded them that dismissal of Tsarist-era debt ...
China’s Geely launches first nine low-orbit satellites for autonomous cars
China’s Zhejiang Geely Holding Group conducted its first successful satellite launch on Wednesday, sending nine into low earth orbit as it builds out a satellite network to provide more ...
Greek restaurants feel the heat as Souvlaki prices soar
As Greek restaurateurs gear up for the summer season, they are keeping a wary eye on the potentially damaging impact of inflation – amply illustrated by the soaring price of a ...
Oil prices fall on prospect of OPEC offsetting Russian output loss
Oil prices fell on Thursday on speculation that Saudi Arabia and other OPEC members may boost crude output to compensate for a drop in Russian production.
Brent crude was down $2.82, ...
Cypriot economy growth rate improves from Q4-21
The growth rate of the Cypriot economy grew by 5.9 per cent year-on-year in the first quarter of 2022 according to a report by the Cyprus Statistical Service (Cystat) released on Wednesday.
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