Banking and Finance

Europe’s single currency has dropped below parity against the dollar for the first time in almost 20 years, battered by growing recession fears in the euro area. On Wednesday, it ...

By Robert Street In recent years Cyprus has significantly enhanced its fund legislation to position itself as a flexible and cost-effective jurisdiction for funds and fund managers within the European ...

The total value of assets under management (AUM) by Collective Funds declined by 3.9 per cent in the first quarter of 2022 over the previous quarter, while Management Companies and Undertakings of ...

The European Union’s body for dismantling failed banks said on Wednesday it would ratchet up pressure on lenders over the coming months to bolster their defences so that none ...

The euro was hovering just above parity with the US dollar on Wednesday while traders focused on US data due later in the session that is expected to show inflation ...

The Financial Stability Board (FSB) said on Monday it would propose “robust” global rules for cryptocurrencies in October, following recent turmoil in markets that has highlighted the need to regulate ...

The euro bounced from near-parity versus the dollar on Tuesday and pushed into positive territory in volatile London trading. Against the greenback, the euro rose 0.2 per cent to $1.0057 after falling 0.4 ...

Hellenic Bank on Monday announced that it has successfully launched and priced the issuance of €100 million Senior Preferred Notes, under its €1.5 billion Medium Term Note Programme (EMTN). According to the ...

The biggest single pipeline carrying Russian gas to Germany starts annual maintenance on Monday with flows expected to stop for ten days. Markets fear the shutdown might be extended due ...

Russia’s dominant lender Sberbank (SBER.MM) on Saturday said it had carried out the first digital financial asset transaction on its own platform, with its subsidiary SberFactoring executing a 1...

The Bank of Spain has registered the local unit of the world’s largest crypto exchange Binance as a virtual currency platform with procedures in place against money laundering and ...

By Maria Demertzis France’s finance minister, Bruno Le Maire, has compared crypto markets to the wild west. At the end of last week, in the last moments of France’...

The upcoming corporate earnings season could prompt another sharp fall in global share prices with profit forecasts looking far too upbeat given mounting recession risks, investors and analysts warn. After ...

Whoever coined the phrase “king dollar” certainly had good reason for doing so and currency trading this week only confirms that the epithet holds true. With recession risks running high, ...

The euro edged higher on Thursday, supported by rising risk appetite but still within striking distance of its two-decade low as surging energy prices fuel recession fears. Meanwhile, implied volatility ...

The Turkish central bank is ready to source unlimited funding for lira rediscount credits extended to exporter companies, a source with knowledge of central bank actions said on Wednesday. Turkish ...

Total new loans recorded an increase in May 2022, amounting to €362.9 million in total, according to a report released this week by the Central Bank of Cyprus. This has been primarily ...

Finance Minister Constantinos Petrides on Wednesday said that the government’s long-term economic strategy Vision 2035 is based on tangible actions and is designed to tackle the challenges that Cyprus will ...

The Turkish lira weakened 0.5 per cent against the dollar early on Wednesday, hit by broad strength in the U.S. currency and by investor concerns about soaring inflation and economic ...

The euro slumped to a two-decade low on Tuesday as the latest surge in European gas prices added to the region’s recession worries and a rebound in US Treasury ...

The Bank of Cyprus on Monday announced that it will implement a voluntary retirement scheme that will seek to reduce its staff by 15 per cent, which amounts to approximately 500-600 ...

The Central Bank of Cyprus released a report this week noting that the country’s international investment position (IIP) improved slightly at the end of the first quarter. In addition, ...

Hellenic Bank remains focused on its goal for a long-term positive impact on society and the environment. This commitment is also reflected in the Bank’s Annual ESG Impact Report ...

The amount of total deposits in the Cypriot banking system decreased in May, but still represented nearly double the amount of loans, according to a report released by the Central ...