Uber revamps driver pay algorithm to attract drivers
Uber Technologies Inc (UBER.N) is testing a new driver earnings algorithm in 24 US cities that allows drivers to see pay and destinations before accepting a trip and raises the ...
Taiwan sees limited impact from Ukraine war on chip supply chain
Taiwan expects little impact from the war in Ukraine on the supply of key raw materials for semiconductors, the government said on Saturday.
Taiwan is a major chip manufacturer, home ...
EU sanctions target Russia’s economy, elites and Putin himself
The European Union has imposed two packages of sanctions on Russia for launching an “unprecedented and unprovoked military attack against Ukraine”.
Further sanctions, including the suspension of Russia’s access ...
Germany softens stance on curbing Russian access to SWIFT
Germany changed its position on Saturday about imposing restrictions on Russia’s access to the SWIFT global interbank payment system, joining other Western powers in support of harsher sanctions aimed ...
Cyprus Business Now
Non-performing loans (NPLs) remained virtually unchanged in November, reaching € 4.24 billion from € 4.26 billion the previous month, according to a report by the Central Bank of Cyprus released on Friday.
In contrast, ...
The weakness of average inflation targeting
By Maria Demertzis
In the 2020 revision of monetary policy strategy, the US Federal Reserve adjusted the pursuit of an inflation rate at 2 per cent, to inflation that ‘averages 2 per cent ...
Cyprus LNG import project – questions that will not go away
This project has been continuously in the limelight during the last few weeks, but, worryingly, for the wrong reasons. Following many questions about the lack of progress, significant schedule slippage ...
China’s business and economic interests in Ukraine
Ukraine, which is locked in a security crisis with Russia, has seen growing investment from China in recent years.
China has a strategic interest in Ukraine because of its location, ...
Cutting Russia off SWIFT is “very last resort” -France’s Le Maire
French Finance Minister Bruno Le Maire said on Friday the option of cutting off Russia from the SWIFT global interbank payments system remained open, but that he viewed this only ...
Russia’s economic defences likely to crumble over time under sanctions onslaught
Russia has spent the past seven years building up formidable financial defences, yet in the long run, its economy is unlikely to withstand the onslaught of coordinated sanctions from the ...
Cyprus Business Now
Port management company DP World on Wednesday hosted Cypriot officials at its flagship terminal Jebel Ali Port in Dubai.
Attending the site were Transport Minister Yiannis Karousos and Shipping Deputy ...
Economic sentiment in Cyprus improves in February
In February 2022, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 3.5 points compared with January 2022.
According to a press release of the Economic Research Centre of ...
European finance reacts to Ukraine invasion with emergency plans, bond freezes
Europe’s financial sector scrambled on Thursday after Russia invaded Ukraine, with Allianz (ALVG.DE)disclosing it had frozen its Russian government bond exposure and top British domestic lender Lloyds ...
EU unlikely to cut Russia off SWIFT for now, sources say
The European Union is unlikely at this stage to take steps to cut Russia off from the SWIFT global interbank payments system as it works on a new package of ...
Stocks dive, oil jumps above $100 as Russia invades Ukraine
Oil prices broke above $100 a barrel for the first time since 2014, stock markets slumped and the rouble hit a record low on Thursday after Russian President Vladimir Putin launched an ...
UK stocks fall more than 2 per cent as Russia attacks Ukraine
UK’s main stock indexes plunged on Thursday, tracking a sharp drop in global equities as investors shed riskier assets, after Russian forces launched an invasion of Ukraine.
The benchmark ...
Oil tops $100 for first time since 2014 as Russia attacks Ukraine
Oil prices surged on Thursday, with Brent breaching $100 a barrel for the first time since 2014, after Russia attacked Ukraine, exacerbating concerns that a war in Europe could disrupt global energy ...
Bank of Cyprus presents financial results to London-based investors
The achievement a year early of the target to bring the NPL ratio down to single digits, combined with the return to profitability, allows the Bank of Cyprus to move ...
No loss of momentum in the life insurance sector
By Yiannis Seitanidis
The life insurance sector maintains its momentum and the overall premium generation rate remained in double digits in 2021.
According to the latest data from the Association of ...
Cyprus Business Now
Cyprus’ booth at the Dubai Expo 2020 utilises a hologram of the goddess Aphrodite to greet guests, while special sensors filled the space with scents from the island, including jasmine and ...
As sanctions start, Russia’s trade flow shifting towards China
The United States is poised to unleash a wider array of sanctions against Russia if Moscow escalates the conflict in Ukraine, denying key Russian financial institutions and companies access to ...
London’s Heathrow records lowest annual passenger numbers since 1972
London’s Heathrow said passenger numbers fell to 19.4 million last year, the lowest since 1972, as it was hit by COVID-19 travel restrictions.
Britain’s biggest airport, which recorded a pretax ...
IMF starts discussions in Ukraine for next tranche disbursement
The mission of the International Monetary Fund is starting its work in Ukraine for the second review of the Fund-supported programme, the global lender said on Wednesday.
Ukraine hopes that ...
Cyprus Business Now
President Nicos Anastasiades will oversee the signing of a number of partnership agreements, in the form of Memoranda of Understanding (MoU), between the Republic of Cyprus and the United Arab ...