Barclays third quarter profit doubles amid global merger frenzy
Barclays (BARC.L) reported on Thursday a doubling of third-quarter profits, beating market expectations, as it followed Wall Street rivals in reaping bumper investment banking fees...
Banking and Finance
UK borrowing down by half as Sunak readies budget
British public borrowing fell by almost half in the first six months of the current financial year from a post-World War Two high a year...
Bank of England to raise rates to 0.25 per cent in Q1, possibly sooner
The Bank of England will be the first major central bank to raise interest rates in the post-pandemic cycle but economists polled by Reuters think...
Cyprus Business Now
American credit rating agency S&P has released a report affirming RCB Bank with a rating of “BB-” with a stable outlook. RCB Bank’s long and...
Lawmakers probe timeline of NatWest money laundering investigation
British lawmakers have asked the Financial Conduct Authority why it took five years to prosecute NatWest (NWG.L) for failing to prevent the laundering of nearly...
Bitcoin sits below all-time high after US ETF debut
Bitcoin hovered below record levels on Wednesday, the day after the first US bitcoin futures-based exchange-traded fund (ETF) began trading, a development that market participants...
Digital Transformation: the natural evolution in banking
Digitisation gives banks the opportunity to come out of the pandemic even stronger The Covid-19 pandemic has accelerated technological transformation for businesses operating in all...
Cyprus Chamber of Commerce: ‘significant reforms necessary to attract foreign companies’
The Cyprus Chamber of Commerce and Industry (CCCI), in collaboration with a number of economists, has prepared a study on the Cypriot economy and what...
UK treasury considering online sales tax, home energy bill VAT cut
British Finance Minister Rishi Sunak is stepping up plans for an online sales tax, the Telegraph reported on Sunday. Treasury officials have accelerated work on...
Evergrande CEO in Hong Kong for restructuring, asset sale talks
Evergrande Group’s (3333.HK) chief executive is holding talks in Hong Kong with investment banks and creditors over a possible restructuring and asset sales, two people...
Welcome to Britain, the bank scam capital of the world
It was an email offering a discount on an electric toothbrush that began the sequence of events that ruined Anna’s life. Within minutes of entering...
Price increases and socioeconomic repercussions
By Andreas Charalambous and Omiros Pissarides Following the prolonged period of subdued inflation, discussions are currently focusing on the evolution of prices, given their serious...
Measuring the informal economy: one guesstimate is as good as another
By George M. Georgiou According to Eurostat’s data browser, Cyprus’ real per capita GDP in 2020 was €23.050, which is about 87 per cent of...
Turkish lira hits record low, Erdogan overhauls monetary policy committee
Turkey’s President Tayyip Erdogan dismissed three central bank monetary policy committee (MPC) members on Thursday, appointing two new members in their place, the country’s Official...
Binance to halt Chinese yuan trading amid Beijing’s crypto crackdown
Binance will stop the use of the Chinese yuan on its peer-to-peer trading platform, the latest move by major global cryptocurrency exchanges to cut their...
JPMorgan’s Dimon blasts bitcoin as ‘worthless’, due for regulation
Jamie Dimon, JPMorgan Chase & Co (JPM.N) chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he...
IMF cuts global growth outlook as supply bottlenecks hobble pandemic recovery
Persistent supply chain disruptions and pricing pressures are constraining the global economy’s recovery from the COVID-19 pandemic, the International Monetary Fund said on Tuesday as...
IMF revises upwards its forecasts for growth of the Cypriot economy
The International Monetary Fund revised upwards the growth rate of the Cypriot economy, compared to its forecasts for last April. According to the World Economic...
Why is the Bank of England talking about raising rates?
Under pressure to act as inflation jumps towards double its 2 per cent target, the Bank of England appears to be gearing up to be...
One month on, El Salvador’s bitcoin use grows but headaches persist
A growing number of El Salvadorans have experimented with bitcoin since the country became the first to adopt it as legal tender last month, with...