Banking and Finance

Accumulating huge amounts of idle cash By Les Manison In response to the financial crisis of 2012/13 the government in agreement with the troika of international institutional institutions took measures to ...

Hellenic Bank on Thursday posted its financial results for the previous year, showing a loss of €11.7 million for 2021. This primarily reflects impairment losses related to the completion of Project Starlight, ...

European shares were lower on Tuesday, while yields on 10-year US inflation-linked bonds were close to turning positive for the first time in two years, as the prospect of aggressive ...

The euro rose on Thursday ahead of the European Central Bank meeting expected to outline a clearer schedule for unwinding stimulus, opening up the possibility of a first rate hike ...

Britain’s accounting watchdog will reclaim powers to ban auditors under proposals announced on Thursday. The powers were previously delegated by the government to professional accounting bodies such as the ...

Russian companies and global banks including BNY Mellon, Deutsche Bank, Citigroup and JPMorgan could profit if Moscow moves to de-list Russian companies’ depositary receipts from foreign exchanges, according to two ...

An estimated 3.6 million unemployed people in the European Union found employment in the fourth quarter of 2021, according to data released on Wednesday by Eurostat, the EU’s statistical service. This ...

A crypto platform’s pledge to amass $10 billion worth of bitcoin to back its own “stablecoin” is firing up the market. It’s part of a wider movement to crown ...

The rouble weakened sharply on Monday, reversing some of the previous week’s gains, after Russia relaxed temporary capital control measures aimed at limiting a drop in the currency. Shares ...

By Yiannis Seitanides The new sanctions against Russia, which were decided by the European Union member states and came into force on Saturday with their publication in the Official Journal ...

The Bank of Israel raised its benchmark interest rate (ILINR=ECI) for the first time in 3-1/2 years on Monday, as expected, to combat rising inflation partly caused by robust ...

Hellenic Bank on Monday announced that it has entered into an agreement for both the sale of a non-performing exposures portfolio, as well as the bank’s servicing platform APS ...

Russia, hit by Western sanctions, has called on the BRICS group of emerging economies to extend the use of national currencies and integrate payment systems, the finance ministry said on ...

Artemis Banking Information Systems announced on Friday that it has adopted a new name, with the company now being renamed Artemis Credit Bureau Ltd. Artemis is Cyprus’ only credit bureau, ...

The Paphos regional board of tourism (Etap) this week announced that it participated in the inaugural meeting for the U-Mar Project, in Sicily, as part of the actions of the ...

The value of Total Assets under Management reached €11.6 bn in the fourth quarter of 2021, recording a minor decrease of 0.2 per cent compared to the third quarter of 2021, according to the ...

Your ability to access credit depends on your history of making payments and bills. If your records report a negative score, then you may face some challenges borrowing money from ...

Russia is turning to microchip manufacturers in China to circumvent western sanctions which have boosted demand for bank cards linked to the Mir payment system, an executive with the domestic ...

PwC Cyprus Director of Technology Advisory Services Minos Georgakis on Tuesday said the pandemic accelerated companies’ digital acceleration, forcing organisations to adapt to the new normal. Georgakis differentiated between the ...

The Anticancer Society on Tuesday launched its 47th annual fundraising campaign in support of its palliative centres for cancer patients that will culminate with the Christodoula march on April 17. The ...

The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at US banks, in a move meant to ...

Lebanon Central Bank Governor Riad Salameh on Monday denied that the institution he has led for 30 years was bankrupt and said it was still going about its legally-mandated role despite ...

The Central Bank of Cyprus on Monday said that the coronavirus outbreak in Cyprus, exacerbated by the emergence of the Omicron variant, led to a sudden tightening of business loan ...

Britain’s main share index held steady on Monday, with investors buying into defensive stocks as talks of more sanctions against Russia over its invasion of Ukraine kept risk appetite ...