Companies

S&P Global Ratings (S&P) has revised the outlook for Bank of Cyprus to positive from stable, citing the easing of funding risks, a diversified business model and substantial progress in de-risking its balance sheet.

Steelmaker İsdemir (İskenderun Demir Çelik) has announced that it resumed production that was interrupted due to the February earthquakes which hit Türkiye's southern provinces.

Production at İsdemir was restarted in a gradual and controlled manner, and the pre-earthquake production levels were reached, the company said in a filing with Borsa Istanbul.

"Slow design" was all the rage at this year's Milan Furniture Fair, featuring sustainable creations made with carefully selected and hand-crafted natural materials in sharp contrast to industrial manufacturing.

The ties between the business world and Greek universities are being strengthened by the participation of CEOs and presidents of large companies operating in Greece in the advisory board of the postgraduate program in business administration of the University of Athens.

More than $68 billion was withdrawn from Credit Suisse in the first three months of 2023, the bank said Monday in what are likely its final quarterly results before it is swallowed by rival UBS.    

Switzerland's long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone.    

Mytilineos on Monday announced the acquisition of a 15% equity stake in Clara Energy's Rosedale Green Hydrogen project in Australia.

The widely anticipated upgrading of Greece's outlook to "Positive" by Standard & Poor's on Friday was taken in the traders' stride in Monday's bourse session, with many of them engaging in some profit taking that focused on banks and construction companies. Turnover posted a considerable decline though.

Chevron is preparing to issue a tender to lease a drilling ship to explore for natural gas off Cyprus, Egypt and Israel, it said on Monday.

Reuters this month cited sources saying that the US company had issued a tender seeking a drilling vessel in 2024 for a year with an option to extend for several years.

BELGRADE - Serbian President Aleksandar Vucic met with Gazprom Neft CEO Alexander Dyukov on Monday to discuss NIS operations in Serbia and the security of oil and oil derivatives supplies to the country, Tanjug learns.

They also discussed new investments in renewable energy sources.

Vucic thanked Dyukov for the successful cooperation to date.

When Credit Suisse's unveils what are likely its final quarterly results Monday, investors will be seeking clues to the magnitude of the challenges awaiting UBS, after it was strongarmed into taking over its stricken rival.