ECB purchased Cypriot bonds worth €4.3 bln in total
The total value of Cypriot bonds held by the European Central Bank (ECB) on its balance sheet stood at €4.29 billion after the public sector purchase programme (PSPP) had concluded in ...
Cyprus Business Now
A small increase of 0.09 per cent was recorded in the price index of construction materials for the month of July 2022, compared to the previous month, according to a report by ...
Inflation, wages and monetary policy
By Ioannis Tirkides
Inflation has been ramping up for about a year now and has reached levels last seen more than forty years ago, during the stagflation of the 1970s ...
Cyprus public debt falls to €24.18 bln in second quarter
Cyprus’ public debt declined to €24.18 billion at the end of June 2022, marking a 3.1 per cent reduction compared with the respective period of last year, according to the latest available data.
...
India cenbank tightens scrutiny over digital lending apps
The Reserve Bank of India on Wednesday issued detailed guidelines that will increase scrutiny and supervision over digital lending apps and lenders who engage with them, after several complaints of ...
BlackRock launches spot bitcoin private trust for US clients
BlackRock Inc (BLK.N), the world’s biggest asset manager, has launched a spot bitcoin private trust for institutional clients in the United States, according to a blog post on ...
Russia could buy yuan, rupees, Turkish lira for rainy day fund, central bank says
Russia is considering buying the currencies of “friendly” countries such as China, India and Turkey to hold in its National Wealth Fund (NWF), having lost the ability to buy dollars ...
Wall Street rally lifts Nasdaq 20 per cent from low as inflation fears ebb
Wall Street surged on Wednesday, putting the Nasdaq more than 20 per cent above its June low, after US inflation slowed more than expected in July and raised hopes the Federal ...
Dubai’s biggest bank gives staff a pay rise for inflation
Dubai’s biggest bank Emirates NBD (ENBD.DU) has given most employees a pay rise of up to 8 per cent to help cushion against rising costs of living driven by ...
Cyprus Business Now
The Bank of Cyprus on Tuesday announced that its board of directors will meet on Tuesday, August 30, 2022, to review the financial results of the Bank of Cyprus Group for the ...
Bank of England will probably need to raise rates again, Ramsden says
The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflation pressures that are gaining a foothold in Britain’s economy, BoE ...
Debt restructurings slow down in 2022 following a record year
By Gregoris Savva
Debt restructurings in Cyprus declined to €545 million in the first half of 2022, with loan renegotiations slowing down following a record 2021 due to the Covid-19 pandemic, and as ...
What is central bank independence?
Talk of changes to the Bank of England’s powers has revived a debate on whether central banks should be independent of governments and in what way.
Central bankers are ...
Cyprus Business Now
Cypriot company Point Nine on Thursday announced that it will be holding its third annual conference on September 16, 2022, with the event taking place at the Four Seasons Hotel in Limassol.
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Global risk, compliance firm partners with bar association for AML training
K2 Integrity — a risk, compliance, investigations and monitoring firm, on Thursday announced its partnership with the Cyprus Bar Association (CBA) giving CBA members access to K2 Integrity’s Certified Risk ...
BoE raises rates by most since 1995 even as long recession looms
The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a ...
Turkey’s banking sector H1 net profit surges 400 per cent year-on-year
The net profit of Turkey’s banking sector leapt 400 per cent from a year earlier to 169.15 billion lira ($9.42 billion) in the first half of the year, the BDDK banking watchdog ...
Cyprus Business Now
The Central Bank of Cyprus (CBC) this week released a report showing that pure new credit granted by Cypriot banks in June rose to €343.6 million, representing an increase of 32 per ...
Cyprus Central Bank signs European equality, diversity, and inclusion charter
The Central Bank of Cyprus (CBC) has signed the European System of Central Banks (ESCB) equality, diversity, and inclusion Charter.
The aim of the Charter, according to a press release ...
S&P affirms Bank of Cyprus at B+/B with a positive outlook
International rating agency S&P Global Ratings this week announced that it has affirmed its ‘B+/B’ long- and short-term issuer credit ratings for the Bank of Cyprus, maintaining ...
Cyprus Business Now
The Gloria Jean’s Coffee franchise in Cyprus will now be under new ownership, with the new owner being Lanitis Entertainment.
This marks the end of C.C. Coffee Company’...
Bank of Cyprus named ‘Best Bank’ in Cyprus
The Bank of Cyprus on Tuesday announced that it has been named as the ‘Best Bank’ in Cyprus for 2022 by finance magazine Euromoney.
The bank said that the accolade comes ...
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 “...