Banking and Finance

The founder of a New York money manager and two associates were criminally charged on Thursday with running a $1.8 billion Ponzi-like fraud where thousands of victims were falsely promised steady ...

US Treasury Secretary Janet Yellen said on Thursday that she and financial market regulators needed to ‘understand deeply’ what happened in the recent trading frenzy involving GameStop Corp and other ...

Discussions of the Cyprus proposals in the draft Plan of Recovery and Sustainability (European Recovery funding plan) are to begin on February 11, according to a press release from the finance ...

Cyprus’s 2021 budget targets a wider deficit than we had previously expected, but fiscal performance should still be strong relative to regional and ratings peers, Fitch Ratings said in a ...

PayPal said it was expecting an addition of about 50 million active users in 2021 and forecast annual revenue of about $25.5 billion, well above the $21.4 billion estimated by analysts. Its shares were ...

Lawyers on both sides of the Channel have been left in limbo by the Brexit accord. Although Prime Minister Boris Johnson has claimed that “solicitors and barristers got a good ...

Annual Turkish inflation rose 15 per cent in January from 14.6 per cent a month ago. Core inflation, which strips out food and energy prices, also increased to 15.5 per cent, the Turkish ...

EFG International, a private banking group, is expanding its presence in Cyprus after receiving regulatory licences from the Cyprus Securities and Exchange Commission (CySEC) and the Central Bank of Cyprus (...

Limassol-based gaming producer Nexters Global, the game developer behind Hero Wars and Throne Rush, is going public in a Special Purpose Acquisition Company (SPAC) deal with the Moscow-based Kismet Acquisition ...

A stronger than expected rebound in the automotive and machinery industries where customers released their pent-up demand boosted Siemens’ first-quarter results, deputy CEO Roland Busch said on Wednesday. Busch, who ...

Amazon Web Services (AWS) chief Andy Jassy will replace billionaire founder Jeff Bezos as Amazon.com’s next chief executive officer. Here’s what we know about the incoming CEO: ...

One year into the coronavirus pandemic, Ethiopia looks set to become a test case for how the world’s poorest countries deal with huge debt increases as the crisis bites. ...

The government of Cyprus on Tuesday raised €1 billion with the sale of a five-year Euro Medium Term Note (EMTN). The debt security sale is part of the planned issuance by ...

Fresh from toppling the head of Germany’s top financial regulator last week, German lawmakers are turning their fire on finance minister Olaf Scholz and his deputy Joerg Kukies. As ...

In the next two years, Cyprus investment projects in tourism will include nine large-scale mixed-use developments (completion date 2022), an integrated Casino Resort by the international casino giant Melco. an investment ...

The rollout by Cyta of the first 5G network for Cyprus on Sunday offers vast opportunities for business, creating a new market for services and the ability to make use ...

Ryanair expects to lose close to €1 billion euros ($1.2 billion) in its current financial year, by far its worst ever performance, but Chief Executive Michael O’Leary forecast a “dramatic recovery” ...

Cyprus will recover in 2021, however the recovery will be slower and weaker than initially expected, according to a forecast published on Monday by the University of Cyprus Economic Research Centre. ...

Dutch central bank governor Klaas Knot said on Sunday he was “cautiously optimistic” on the chances for economic recovery later in the year, as COVID-19 vaccinations could enable countries to ...

Silver prices leapt to a five-month high on Monday and small silver miners listed in Australia surged after social media calls to buy the metal and emulate the frenzy that ...

Participants at Libya’s U.N.-sponsored peace talks have approved a list of candidates seeking to lead a transitional government that will prepare the North African state for a ...

It sounds like the start of a parable: Investors stuck inside during a pandemic begin to bid up an asset until its price becomes untethered to reality. The value soars ...

By Manos Panayiotou, advisor in Wealth & Investment Services at Hellenic Bank Every day people struggle to balance logic and sentiment. Every individual needs to find the perfect compromise to ...

The European Banking Authority (EBA) has launched its 2021 EU-wide stress test, publishing the scenarios for the exercise, including those concerning Cyprus. Although Cypriot banks are not included in the sample, ...