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 ...
From contagion to sanctions, Europe’s banks brace for Russia fallout
European banks on Tuesday were bracing for fallout and fresh sanctions after Russia ordered troops into breakaway regions of eastern Ukraine, with HSBC warning of market contagion and Austria’s ...
Rouble sinks, stocks plunge as Russia recognises Ukraine breakaway regions
The rouble tanked on Monday, slipping past 80 against the dollar, while stocks plunged to their lowest in over a year as Russian President Vladimir Putin called for the immediate recognition ...
Cryptoverse: Bitcoin could be laid low by miners’ malady
Bitcoin miners are feeling the heat – and the pain’s rippling downstream to pressure prices.
The cryptocurrency’s spectacular rally in 2021 drew thousands of entrants into mining, or producing new ...
HSBC targets 34 per cent oil and gas emissions cut by 2030
HSBC (HSBA.L) aims to cut emissions associated with loans made to its oil and gas clients by 34 per cent this decade, the bank’s sustainability chief told Reuters, marking ...
Markets brace for heavy falls as Russia-Ukraine crisis escalates
Investors were bracing for a torrid day for Russian, Ukrainian and wider global markets when they reopen on Tuesday, after Vladimir Putin upped the ante in a crisis the West ...
Anastasiades to meet Crown Prince of Abu Dhabi
President Nicos Anastasiades, who is heading a big delegation of ministers and business leaders on an official trip to the United Arab Emirates, is set to meet the Crown Prince ...
Mercedes-Benz foresees EV-only production lines within a few years
Mercedes-Benz (MBGn.DE) expects to have factories producing exclusively electric vehicles (EVs) by the second half of the decade but will steer clear of building EV-only plants, instead keeping production ...
Cyprus Business Now
The government wishes to increase the stature and sales of Cypriot wines, both internationally and domestically, Disy leader Averof Neophytou said on Monday in an address to an event examining ...
Housing Finance Corporation’s digital transformation underway
The digital transformation of the Housing Finance Corporation, including to its internet banking services, is underway and scheduled to be completed by 2023, acting general manager Vassiliki Vassiliou said on Sunday.
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US plans to cut ties with targeted Russian banks if Ukraine is invaded
President Joe Biden’s administration has prepared an initial package of sanctions against Russia that includes barring US financial institutions from processing transactions for major Russian banks, three people familiar ...
Oil falls on fresh hope of diplomacy over Ukraine crisis
Oil prices fell on Monday, reversing course from strong initial gains, as news of fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from concerns about crude supply.
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Contracts show Lebanon’s central bank obscured recipients of commissions
For more than a decade, Lebanon’s central bank charged commercial banks in the country commissions when they bought government securities without making clear that the bulk of those commissions ...
British carmaker Lotus is planning a multibillion-pound flotation
British carmaker Lotus is planning a multibillion-pound flotation and the company is speaking to prospective investors, The Times reported, without citing the source of the information.
Lotus is moving to ...
US-UAE push for another $4 billion in farming climate change investment
The United States and the United Arab Emirates are seeking an additional $4 billion of global investment in an initiative launched last year to make agriculture resilient to climate change and ...
Spotify acquires Podsights and Chartable to advance its podcasting business
Spotify Inc (SPOT.N) deepened its investment in podcasting with the acquisitions of Podsights and Chartable, two services that provide greater insights for advertisers and podcasting publishers, the Swedish company ...
Skiing in Lebanon too steep for most with currency in freefall
Skiing in Lebanon has long been a luxury for the well-off, but the eastern Mediterranean country’s financial meltdown has thrown most people into poverty and made taking to the ...
UAE corporate tax may dilute competitive edge, as Saudi Arabia steps up
The United Arab Emirates’ plans for a corporate tax risk eroding one of its main attractions as the Gulf’s premier destination for foreign firms, at a time when Saudi ...
Singapore to hike taxes on rich as it winds down COVID-19 spending
Singapore will begin implementing a long-flagged increase to its goods and services tax next year, its finance minister said in his budget speech on Friday, while also announcing a slew ...
Intel’s new chip plans could turn rival AMD’s fortunes
Intel Corp’s latest focus on making chips to meet rising demand will give Advanced Micro Devices Inc (AMD.O), its biggest rival in the server and PC market, a ...
Public resource management reform underway in Cyprus
The Cypriot government and the country’s public service are accelerating the reform of public resource management, the first phase of which is expected to take effect in 2023, Finance Minister ...
A new EU treaty to fight climate change
By Maria Demertzis
The Maastricht treaty, signed thirty years ago this year, committed European Union countries to the greatest step in integration they’d so far taken. It established European ...
Cyprus Business Now
Revenues from tourism amounted to €1.46 billion in the period between January and November of 2021, a report by the Cyprus Statistical Service (Cystat) released on Friday revealed.
The revenue reported reflects ...
UK shoppers return to stores after Omicron knock
British shoppers began to return to stores last month after many stayed away during a wave of COVID-19 cases that peaked at the turn of the year, although fast-rising inflation ...