market share

Athletics-No guarantees of world record in Paris, says Warholm

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Athletics-No guarantees of world record in Paris, says Warholm

Karsten Warholm, the world 400 metres hurdles champion, expressed uncertainty about breaking his own record at the Paris Olympics. He mentioned that the new running spikes he developed with Puma have boosted his confidence. Warholm visited Puma suppliers in Vietnam to test shoes and materials for the new spikes, which were unveiled in Paris. He used to criticize shoe technology but now believes it has leveled the playing field in running. Puma launched a campaign featuring Olympic athletes, including Warholm, to gain more market share in the running shoe market.

Corporate profit bonanza

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Corporate profit bonanza

After-tax corporate profits reached an all-time high of .8 trillion in the last three months of 2023.

Xanthos Sarris. The “Eureka” of success!

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Xanthos Sarris. The “Eureka” of success!

Fact: Xanthos Sarris founded the EUREKA company in 1959 after discovering the potential of a whitening product.

Kedipes makes largest ever payment to the state

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Kedipes makes largest ever payment to the state

The board of directors of state-owned asset management company Kedipes decided to make a cash payment of €140 million to the state for the first quarter of 2024. The payment is part of repaying state aid received by the former Cooperative Cyprus Bank. The total amount of cash repayment against state aid now stands at €1.3 billion, and Kedipes maintains a cash reserve of €60 million for financing the ‘Mortgage to Rent’ scheme.

Decline in business loans continued in late 2023, CBC says

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Decline in business loans continued in late 2023, CBC says

Fact: Cyprus saw a decrease in net demand for new business loans in the final quarter of 2023, continuing a downward trend observed since the first quarter of 2022, albeit to a lesser extent than originally expected.

Nike warns of revenue dip as it cuts back on key products

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Nike warns of revenue dip as it cuts back on key products

Nike warned that its revenue in the first half of fiscal 2025 would shrink by a low single-digit percentage as it scales back on franchises to save costs.

Nvidia stock climbs as CFO says new chip to ship in 2024

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Nvidia stock climbs as CFO says new chip to ship in 2024

Nvidia’s stock increased by nearly 2% to 1 after announcements at their annual developer conference in San Jose, California. The company revealed its new flagship AI processor, Blackwell, expected to ship later this year, with CEO Jensen Huang highlighting a potential data center market worth over 0 billion. Nvidia is transitioning from selling individual chips to complete systems to capture a larger share of data center spending. The Blackwell processor, developed in collaboration with TSMC to avoid previous bottlenecks, is claimed to be 30 times faster at certain tasks than its predecessor and is priced between ,000 and ,000. Nvidia is also working with Samsung Electronics and SK Hynix on high bandwidth memory chips, with SK Hynix beginning mass production of HBM3E chips for Nvidia. Over the past 12 months, Nvidia’s stock has more than tripled, making it the third-most valuable company in the US stock market. Despite a high valuation, analysts have raised their future earnings estimates for Nvidia, with major customers like Amazon, Google, Meta Platforms, Microsoft, OpenAI, and Tesla expected to use the new chip. Morningstar analysts predict Nvidia will maintain its “best-of-breed” status in the AI industry and have increased their revenue forecasts for the company’s data center business.

Intel prepares for $100 billion spending spree across four US states

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Intel prepares for $100 billion spending spree across four US states

Intel is planning to spend 0 billion across four US states to build and expand factories, having secured .5 billion in federal grants and loans and hoping to secure another billion in tax breaks. The plan includes creating the world’s largest AI chip manufacturing site near Columbus, Ohio, by as soon as 2027, with funding from the CHIPS Act. This initiative also involves revamping sites in New Mexico and Oregon, and expanding operations in Arizona. Intel aims to regain its leading position in semiconductor manufacturing with government support, spending 30% of the budget on construction and the rest on purchasing chipmaking tools from companies like ASML, Tokyo Electron, Applied Materials, and KLA. CEO Pat Gelsinger mentioned the possibility of needing more US funding to re-establish the country as a leader in semiconductor manufacturing and highlighted the importance of “smart capital” from low-interest-rate funding.

Mobile phones outnumber people in Cyprus

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Mobile phones outnumber people in Cyprus

In 2022, the number of landlines in Cyprus decreased by 27,474, a decline of close to 10%, while the number of mobile phones increased by 4.4%, with 17,647 new users, bringing the total to 1.43 million devices. This increase in mobile phones has led to a market penetration rate of 156%, indicating there are more mobile phones than people in Cyprus. The telecommunications company Cyta holds the majority share of the landline market at over 56%, though this has decreased from 62.7% in 2020. Cablenet is the biggest competitor, holding 23.8% of the market. In the mobile market, Cyta also leads with a 51.8% share, followed by Epic at 23.9%, and Cablenet, which has risen to 10.1%. The number of fixed broadband subscribers increased by 2.2% in 2022, adding 7,676 new subscribers. Contracts with unlimited data, voice calls, and SMS account for 53.77% of mobile subscriptions.