Like the Titanic the super yacht Bayesian that sank off the coast of Sicily in a freak weather event on August 19 was virtually unsinkable. But it sank and seven passengers perished including the technology entrepreneur Mike Lynch, and his 18-year-old daughter Hannah. His wife Angela Bacares, who owned Bayesian, and the yacht’s skipper and […]
Here are the top business stories in Cyprus from the week starting August 26: Starting with the economic landscape, the value of Cypriot bonds held by the Eurosystem has decreased to €6.38 billion as the European Central Bank (ECB) proceeds with its balance sheet reduction. These actions represent a strategic effort to tighten monetary policy […]
WHEN it comes to rewarding law breakers nobody does it as generously as our politicians, perhaps because they identify with them. They certainly have no time for the honest folk who obey the laws, pay their state dues and repay their bank loans in full, considering them simpletons. So, during the banking crisis, the parties […]
Energy Minister George Papanastasiou’s decision to write to the Cyprus Energy Regulatory Authority (Cera), asking it to end the country’s status of ‘emerging’ market was long overdue and he should be congratulated for taking it. Cyprus had declared itself an emerging energy market, not because it was in the best interest of the economy, but […]
UBS Global Wealth Management has raised the odds of a US recession to 25 per cent from 20 per cent, citing weakness stemming from softer jobs growth and the July unemployment data which stoked fears of a downturn. The brokerage in a note released this week maintained its base case of a soft landing for […]
The US Commerce Department has announced that it plans to award $50 million to HP (HPE.N) to support the expansion and modernization of an existing company facility in Oregon that will boost key semiconductor technologies. The proposed funding will support technologies that serve life sciences instrumentation and technology hardware used in artificial intelligence applications and […]
South African authorities should introduce regulatory ‘sandboxes’, or controlled testing grounds, to spur innovation in the country’s growing digital platform sector, according to tech investor Naspers (NPNJn.J) and research firm MISTRA. A “sandbox” allows testing of new services in the market, but within a controlled regulatory environment without having to undergo a costly and lengthy […]
Qatar has agreed to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for 15 years, the second such deal since 2020 as Kuwait imports the fuel to help meet rising demand for power generation. The chief executives of state-owned QatarEnergy and Kuwait Petroleum Corporation (KPC) signed the long-term sales […]
As the summer tourist season edges towards its conclusion, Paphos airport is once again in the spotlight for all the wrong reasons. While the island’s tourism industry thrives, with data indicating a steady number of visitors flocking to its shores from May until September, the airport continues to struggle with capacity issues, leaving many travellers […]
