Rouble slumps to weakest vs dollar since May
The rouble plunged to its weakest level since early May past 70 against the dollar on Wednesday, taking its monthly losses to almost 14% as fears over sanctions on Russian oil and ...
Hellenic CEO back and pursuing bank’s targets
By George Christou
Hellenic Bank CEO, Oliver Gatzke, after a two-month absence from his post, returned to the helm 10 days ago determined to deal with all pending issues facing and ...
Government surplus doubles from last year
The Cypriot government generated a surplus of €651.4 million for the period between July and September 2022, compared to a surplus of €319.5 million in the corresponding period last year, according to a ...
Central Bank launches new initiative to support fintech companies
The Central Bank of Cyprus (CBC) on Tuesday announced the launch of a new Innovation Hub in the field of financial technology (fintech), in an effort to encourage and support ...
BlackRock plans no big changes to ESG stance despite backlash
BlackRock (BLK.N) plans no major changes to the way it engages with companies and votes on environmental and social issues in the year ahead, despite a backlash against its ...
BoC asset quality and deposit base praised after rating upgrade
Limassol-based rating agency Capital Intelligence this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of the Bank of Cyprus (BoC) to ‘BB’, from ‘BB-‘.
In ...
Cyprus Business Now
The Bank of Cyprus was named Bank of the Year in Cyprus for 2022 by the international magazine ‘The Banker’.
According to an announcement from the Bank of Cyprus, Panicos Nicolaou, ...
Central Bank digital currencies as weapons of finance?
By Maria Demertzis
Central bank digital currencies (CBDCs) have become a reality in ten countries: a number of countries in the Caribbean plus Nigeria. As a digital equivalent of a ...
Nicolaou’s stint at the helm of BoC extended until 2026
Panicos Nicolaou’s term in office as Chief Executive Officer (Ceo) of the Bank of Cyprus has been extended for another 4 years.
During meetings on Friday, the Boards of Directors ...
European shares post worst weekly loss since September as recession fears mount
European shares slid on Friday, ending the week sharply lower after major central banks flagged further rate hikes, while economic activity data from the euro zone failed to assuage concerns ...
Cyprus GDP to fall in 2023, recovery expected in subsequent years
Cyprus’ GDP is estimated to have reached a growth rate of 5.8 per cent for 2022, according to a report released on Friday by the Central Bank of Cyprus (CBC).
However, in ...
Investors bet Fed will blink if recession hits despite ‘higher for longer’ mantra
Some investors believe an expected recession will force the Federal Reserve to loosen monetary policy next year, even as the central bank projects it will raise rates higher than it ...
Hellenic Bank upgraded by agency, leaner structure praised
Capital Intelligence Ratings (CI Ratings) this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of Hellenic Bank (HB) to ‘BB’ from ‘BB-‘ and affirmed the ...
ECB slows rate hikes but pledges continued inflation fight
The European Central Bank raised interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, pledged further hikes and laid ...
Bank of England readies another rate hike even as recession hits
A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how ...
Barclays weighs Saudi re-entry amid capital markets boom
Barclays (BARC.L) is exploring a return to Saudi Arabia in a bid to capture a slice of the country’s burgeoning capital markets, two people close to the matter ...
Cyprus Business Now
The Cypriot banking system incurred losses after tax of €36 million, on a consolidated basis, in the first half of 2022, compared to profits of €22.54 million in the corresponding period of 2021, according ...
Central Bank holds event to promote financial literacy
The Central Bank of Cyprus (CBC) announced this week that it successfully held a one-day event in which it sought to bolster financial literacy awareness among secondary education teachers.
The ...
ECB highlights credit risk as priority concern
The European Central Bank’s Single Supervisory Mechanism (SSM) on Monday announced its intention to focus on credit risk provisions and, more broadly, new lending procedures, due to the deterioration ...
Hellenic Bank CEO cleared of any wrongdoing, returns to role
Hellenic Bank CEO Oliver Gatzke returned to his duties today following a recent decision by the bank’s board of directors after an investigation into allegations of statements and actions ...
Dollar gains as inflation pressures persist; eyes on central bank meetings
The dollar climbed on Monday after data on Friday showed US producer prices had risen more than expected last month, pointing to persistent inflationary pressures and a chance the Federal ...
Microsoft to buy 4 per cent stake in London Stock Exchange
Microsoft (MSFT.O) is to take a 4 per cent equity stake in London Stock Exchange Group (LSEG.L) as part of a 10-year commercial deal to migrate the exchange operator’...
AIFMs and gender equality: why should funds hire women executives?
By Maryna Chernenko
Women have become a considerable force in the financial world. According to BCG’s data, they are adding $5 trillion to the global wealth pool every year at ...
Improving customer experience crucial to banking sector success
Chief Banking Officer at Hellenic Bank Phivos Stasopoulos on Friday addressed the tenth Banking Forum and Fintech Expo, touching on a number of issues, including the challenges facing the banking ...