BusinessTop – Paktweet

Credit Suisse job cuts must be frozen bank employees leader says

Reuters Ne...April 11, 2023

Credit Suisse (CSGN.S) and UBS (UBSG.S) must freeze any job cuts planned as part of their emergency merger, the Swiss Bank Employees’ Association (SBPV) said on Tuesday, in an open…

Cypriot company receives major investment to develop microRNA therapeutics

Panis Pier...April 10, 2023

ASBIS and Lanitis Group will invest €1.2 million to help fuel cancer biotech Theramir’s growth and expand its portfolio of stem cell and microRNA-based technologies Cypriot biotech company Theramir, which…

Oil steady as investors weigh tighter supply against growth outlook

Reuters Ne...April 10, 2023

Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel…

Cyprus Business Now weekly wrapup

Kyriacos N...April 9, 2023

Here’s a summary of the top business news stories from the week starting April 3 in Cyprus: Eurobank Cyprus was awarded the “Best Private Banking Boutique in Cyprus” award by…

Cyprus deficit grew to 246 billion in 2022 ties with Russia still strong

Kyriacos N...April 8, 2023

The Central Bank of Cyprus (CBC) this week released a report stating that the country’s current account deficit reached €2.46 billion in 2022, equivalent to 9.1 per cent of the…

Economic growth in GCC to more than halve in 2023

Reuters Ne...April 7, 2023

The World Bank has revised its 2023 economic growth projection for the oil exporters of the six-member Gulf Cooperation Council (GCC) downwards to 3.2 per cent in its latest update…

Cyprus construction sector activity declines as costs continue to rise

Kyriacos N...April 7, 2023

The Cyprus Statistical Service (Cystat) on Thursday reported a year-on-year drop in construction production during the fourth quarter of 2022, while producer prices in construction saw a significant annual increase…