Banking and Finance

Russia’s finance ministry said on Monday it had approved a temporary procedure for repaying foreign currency debt, but warned that payments would be made in roubles if sanctions prevent ...

Brazil’s central bank announced tougher rules for fintechs on Friday, saying that payment institutions will be subject to regulations based on their size and complexity and raising standards for ...

Deutsche Bank (DBKGn.DE) said it was not withdrawing completely from Russia, drawing anger from investors and contrasting with Wall Street banks which are severing ties with the country over ...

Rating agency Standard & Poor’s on Thursday downgraded RCB Bank’s long-term issuer rating from BB- to B+ and placed the bank on negative watch, citing the lack of ...

The discussion between Hellenic Bank and the Cyprus Union of Bank Employees (Etyk) have broken down, resulting in the bank now seeking mediation from the Department of Labour Relations. “It ...

RCB Bank announced on Tuesday that it has donated €50,000 to the Cyprus Red Cross Society (CRCS) in support of the organisation’s relief and humanitarian efforts on the ground for ...

Middle Eastern and Chinese sovereign wealth funds are likely to avoid new deals in Russia for now after its invasion of Ukraine, said the author of a report published on ...

Russia’s rouble tumbled to a fresh record low in thin offshore trade on Monday, with local markets closed for trading until at least Wednesday. The rouble weakened to 133.5 to ...

Western allies’ sanctions against Russia have started to blowback in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, ...

Two of the Big Four accounting firms KPMG and PricewaterhouseCoopers LLP (PwC) on Sunday said they will no longer have a member firm in Russia due to the country’s ...

By Andreas Charalambous and Omiros Pissarides Recent developments confirm that without worldwide coordinated action and = implementation of additional far-reaching measures aimed at fighting climate change, the risk of serious environmental ...

The euro tumbled to a fresh 22-month low on the dollar while commodity currencies were swept to multi-month peaks as war in Ukraine sent oil prices spiking and stoked fears ...

Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw. Sanctions placed ...

Cryptocurrencies have been close to the headlines since Russia invaded Ukraine, with the ever-volatile bitcoin in demand in Russia and beyond. Here are some charts that look at how cryptocurrencies ...

Credit rating agency Standard and Poor’s affirmed Cyprus’ long-term credit rating at BBB-, while maintaining a positive outlook, stressing that despite the Ukrainian crisis and economic sanctions against Russia, ...

The vice president of the European Investment Bank (EIB), Liliana Pavlova, visited the University of Cyprus this week in order to review the activities and funded projects of the EIB ...

So far global companies, banks and investors have announced that they have exposure in some form to Russia of more than $110 billion. That number could rise. Data from research firm ...

The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.06 per cent, compared to December 2021, according to Cyprus Central Bank. At ...

The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has already done for seven Russian banks, an ...

The Russian rouble slid further on Thursday, hitting record lows against the dollar and euro, after ratings agencies Fitch and Moody’s downgraded Russia’s sovereign debt to “junk” status ...

The Moscow branch of a Chinese state bank has seen a surge in enquiries from Russian firms wanting to open new accounts, a person familiar with the matter said, as ...

With much of Moscow’s $640 billion reserves under lock and key in the West and sanctions crippling cross-border capital flows, investors fear Russia may be heading for its first ever ...

The economic sanctions imposed against Russia following its invasion of Ukraine are not affecting Cyprus to a large extent as the island’s banking system has no exposure to Russia, ...

Russia said on Tuesday it was placing temporary restrictions on foreigners seeking to exit Russia assets, as it tried to stem an investor retreat driven by crippling Western sanctions imposed ...