HSBC raises key profitability goal, seeking to rebuff call for break-up
HSBC (HSBA.L) sought to woo investors on Monday with a higher profitability target and bullish dividend outlook, as Europe’s biggest bank pushed back on a proposal by top ...
Central bank, companies clash over Turkey’s new loan rules
A big Turkish business group and the central bank clashed on Friday over recent regulations covering loans, with the Istanbul Chamber of Industry’s (ISO) head saying the measures create “...
Moody’s welcomes BoC exit scheme, says profitability to recover faster
The Bank of Cyprus’ voluntary retirement plan, which recently received approval for the departure of 550 people at a cost of approximately €99 million, was described as credit positive in a report ...
NatWest boosts investor payouts even as inflation gathers pace
British bank NatWest (NWG.L) raised its full-year guidance and made a bumper payout to shareholders on Friday after rising interest rates lifted its finances, despite runaway inflation threatening to ...
Cyprus Business Now
Cypriot banks see a tightening of lending criteria for the second quarter of 2022, due to the uncertainty related to Russia’s invasion of Ukraine, according to the Q1-22 Bank ...
European stocks trim gains on some downbeat earnings
European shares came off session highs on Thursday, as a slew of downbeat earnings including from Santander took the shine off a global rally driven by easing worries about the ...
Qatar’s central bank raises deposit rate by 75 basis points to 3 per cent
The Central Bank of Qatar said on Wednesday it raised its main deposit rate by 75 basis points (bps) to 3 per cent, moving in tandem with the US Federal Reserve’s ...
Cyprus Business Now
The Central Bank of Cyprus on Wednesday released a report which showed that the outstanding amount of deposits in June reached €51.3 billion.
Moreover, the report by the central bank also ...
Economic sentiment in Cyprus improves in July
Economic sentiment improved in July, the University of Cyprus’ Economic Research Centre said on Wednesday.
In its monthly bulletin, the research centre says that in July 2022, economic sentiment in Cyprus ...
Buoyant company earnings lift recession-focused markets
Better-than-expected earnings from a raft of US and European companies helped steady global stock markets on Wednesday, cutting through gloom caused by rising interest rates and the threat of an ...
Lebanon parliament passes amendments to banking secrecy law
Lebanon’s parliament on Tuesday passed long-awaited amendments to a banking secrecy law, according to a Reuters witness, in the first step towards reforms required by the International Monetary Fund (...
Gas crunch fears hammer euro, lift dollar and Swiss franc
The prospect of another Russian gas supply cut knocked the euro lower on Tuesday, while dollar gains were tempered by mounting uncertainty over the US Federal Reserve’s policy-tightening path ...
Euro-dollar parity: beyond symbolism
By Maria Demertzis
The last time the euro was at parity with the dollar was 20 years ago in November 2002. The current situation of an almost one-to-one exchange is therefore an ...
BoC approves 550 employees for voluntary retirement scheme
The Bank of Cyprus on Monday announced that it has approved around 550 of its employees for the bank’s voluntary retirement scheme.
The total cost of the implementation of the ...
UK watchdog fines KPMG $24 mln over Carillion, Regenersis audits
KPMG was fined 14.4 million pounds ($17.27 million) on Monday after the accounting firm admitted to providing false and misleading information to its regulator during spot checks on audits of construction firm ...
Credit Suisse eyes more cost cuts, SonntagsZeitung reports
Credit Suisse (CSGN.S) is considering how it could cut costs further after a dismal performance by the embattled bank in the past quarter, SonntagsZeitung reported, citing senior sources.
“The ...
World stocks edge higher for sixth day of gains, dull business activity hits euro
Global stocks were marginally higher on Friday, eyeing a sixth day of gains as European markets rose, while weak euro zone business activity data hit the euro and weighed on ...
Ukraine devalues hryvnia currency by 25% against U.S. dollar
Ukraine’s central bank devalued the hryvnia currency by 25% against the U.S. dollar on Thursday to help the country cope with the growing economic impact of the war with ...
Minsk blames western sanctions for pushing Belarus into default
The Belarusian finance ministry said Western sanctions that have limited Minsk’s ability to deal in foreign currencies are pushing the country into default despite Minsk being able to service ...
ECB to finally join rate hike club with big move on agenda
The European Central Bank will raise interest rates for the first time in 11 years on Thursday with a bigger-than-flagged move seen as increasingly likely as policymakers fear losing control of ...
Importers paid $32 bln in U.S. tariffs on China tech imports-industry report
Importers of technology products from China paid over $32 billion worth of tariffs imposed by President Donald Trump between mid-2018 to the end of 2021, a new trade group report showed on ...
Yellen vows tough U.S. measures against countries abusing economic order
U.S. Treasury Secretary Janet Yellen on Tuesday said deeper trade ties among allies could help fight inflation and thwart China’s “unfair trade practices,” vowing to impose harsh consequences ...
The hike is almost here – now for what comes next: Five questions for the ECB
The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday ...
Shares rally, euro on edge for ECB and gas test
Asian share markets rallied on Monday following a much-needed bounce on Wall Street, though nerves were stretched ahead of a near-certain interest rate hike in Europe and another round of ...