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Nearly half of household expenditure across the European Union was devoted to basic necessities in January 2026, according to official data from Eurostat. The statistical office of the European Union reported that 46.0 per cent of total household consumer spending was allocated to three essential areas: food and non-alcoholic beverages, housing, water and energy, and transport. These three categories have also experienced significant price increases in at least one recent yea

Fast-fashion giant Shein suffered a weak start to its long-awaited stock market debut on Tuesday, with its shares falling sharply after beginning trading on the Hong Kong Stock Exchange. The disappointing performance highlights growing investor concerns about the company's slowing growth, rising costs and increasingly difficult regulatory environment. Shein's shares opened at HK$48.56, the price set for its initial public offering, before falling as much as 10% to around HK$4

Industrial prices in Cyprus accelerated significantly in July, with the overall Industrial Output Price Index increasing by 4.4% compared with the same month a year earlier, according to the latest official data. The index reached 128.2 points in July, based on 2021 as the reference year, following a 2% increase compared with June. The latest figures indicate that price pressures within the industrial economy strengthened considerably during the summer, with energy costs play

Nvidia has reported another exceptional quarter of growth as demand for artificial intelligence infrastructure continues to accelerate, with the semiconductor giant more than doubling its revenue compared with the same period a year earlier. The company generated approximately $96.2 billion in revenue during its fiscal second quarter, representing a 106% increase year-on-year and an 18% increase from the previous quarter. The result exceeded market expectations of roughly $92

Cyprus is continuing to record strong economic growth, with the country's performance remaining well ahead of the European average despite a more challenging external environment and increasing uncertainty across regional markets. The latest figures indicate that real GDP expanded by 3.3% year-on-year in the second quarter of 2026, following growth of 3.0% in the first quarter. The second-quarter result was more than three times the growth recorded across the euro area, highl

Cyprus is rapidly establishing itself as one of the world's most significant video game development hubs relative to its population, with the industry generating billions of euros in annual revenue and attracting hundreds of international companies to the island. The scale of the sector has become increasingly visible following the publication of the first comprehensive industry assessment of Cyprus's video game market. The figures indicate that what was once a relatively sma

The company's move to go public follows unsuccessful attempts to list in the United States and London, where regulatory hurdles and scrutiny surrounding the business complicated its plans. Shein, which is headquartered in Singapore but was founded in China, has grown rapidly since its establishment in 2008 to become one of the world's largest fast-fashion retailers, serving customers in more than 150 countries. The e-commerce company has built its business around ultra-low-pr

The euro is set for its first major visual transformation, as the European Central Bank (ECB) moves ahead with plans for a new generation of banknotes designed to look more familiar, strengthen security and create a closer connection with European citizens. The proposals, unveiled by the ECB in July, represent the first substantial visual break from the banknotes that Europeans have carried since the introduction of the single currency. The new designs replace the current abs

National Bank of Greece announced this week that it had repurchased 727,285 of its own common shares traded on Euronext Athens between August 10 and August 17, 2026. The shares were acquired at a weighted average price of €16.3083 each, bringing the total value of the latest transactions to €11,860,757.13. The share buybacks were carried out in line with decisions approved at the bank’s annual general meeting of shareholders on April 30, 2026, and following the subsequent ann

Maersk and Hapag-Lloyd have shifted another major Asia–Europe container service back through the Suez Canal, providing another indication that some shipping lines are cautiously reassessing their reliance on the longer route around the Cape of Good Hope. However, the latest move remains a targeted decision rather than evidence of a broad return to the Red Sea and Suez Canal. The two shipping companies announced that their AE19 service, operated as part of the Gemini Cooperati

Europe’s prolonged spell of extreme summer heat is expected to inflict an economic cost of around €180 billion in 2026, equivalent to roughly 1% of the European Union’s GDP, according to research published by Triodos Bank. The estimated loss is almost as large as the 1.1% growth that the EU had been expected to achieve this year, raising the prospect that the bloc could end the year close to stagnation. The analysis attributes the losses to a combination of extreme temperatur

US President Donald Trump has signed an executive order introducing a 15% tariff on imported polysilicon and products made from the material, escalating Washington's efforts to protect strategically important industries and reduce China's influence over critical technology supply chains. Polysilicon is a key raw material used in the manufacture of semiconductors and solar panels. Under the order signed on Thursday, the United States will impose a 15% tariff on polysilicon and

The Cyprus Stock Exchange (CSE) has announced the results of its latest review of listed companies' compliance with minimum market capitalisation requirements, confirming changes to the warning status of several issuers. The review forms part of the exchange's ongoing supervisory framework aimed at promoting market transparency and ensuring that listed companies continue to meet the standards required for admission and continued trading on the regulated market. One of the mos

Cambodia is weighing a broader expansion of visa-free travel and an increase in direct international flight connections as part of efforts to revive its tourism sector following a noticeable decline in foreign visitor arrivals. The proposals were discussed during a meeting of the government-private sector tourism working group on Tuesday, chaired by Tourism Minister Huot Hak. Speaking during the meeting, Hak said international tourist arrivals had dropped sharply during the f

The UK's Financial Conduct Authority (FCA) has introduced a series of reforms aimed at making London a more attractive destination for companies seeking to raise capital through initial public offerings (IPOs). The changes are designed to simplify the listing process, reduce compliance costs and shorten the time required to bring companies to market, as regulators seek to reverse a prolonged decline in UK stock market listings and strengthen the competitiveness of Britain's c

Eurozone business activity accelerated to its strongest level in eight months during July, supported by a recovery in the services sector alongside continued improvement in manufacturing. However, businesses remained cautious as uncertainty surrounding the ongoing conflict in the Middle East continued to weigh on the economic outlook, according to the latest survey. The S&P Global Eurozone Composite Purchasing Managers' Index (PMI), which measures combined activity across the

Central banks should neither ignore climate change nor attempt to act as climate policymakers, according to a new economic analysis examining the appropriate role of monetary authorities in an increasingly climate-affected global economy. The report argues that while governments remain responsible for designing and implementing climate policy, central banks must recognise that climate-related developments have become significant macroeconomic forces capable of influencing inf

Leading banks in Greece and Cyprus are expected to report another quarter of strong profitability, supported by resilient lending activity, stable interest income and growing fee-based revenues, despite a more challenging interest rate environment. Analysts believe the sector continues to demonstrate solid earnings momentum as institutions benefit from healthy credit demand, disciplined cost management and robust capital positions. Among the strongest expected performers is B

Dutch tax authorities have introduced a series of new VAT-related measures that are expected to reduce compliance costs for businesses by approximately €81 million each year. The savings are expected to come primarily from administrative simplifications, streamlined procedures, and a reduction in the reporting burden faced by entrepreneurs. The measures form part of a wider package of VAT modernisation reforms in the Netherlands, designed to make the VAT system more efficient

Kenya does not need to increase its Value Added Tax (VAT) rate to generate higher government revenue, according to a new study by the Kenya Institute for Public Policy Research and Analysis (KIPPRA), which argues that improving tax administration, expanding compliance and leveraging digital tax systems would be far more effective than imposing higher tax rates. The findings come at a time when Kenya continues to debate its tax policy following a series of Finance Bills aimed