Banking and Finance

By Maria Demertzis The discovery of the latest Omicron variant of COVID-19 sent stock markets into a freefall on Black Friday. However, markets recovered on Monday and have since shrugged ...

The Turkish lira edged to near record lows on Friday as concerns about President Tayyip Erdogan’s low interest rate policy were fueled by a central bank survey showing one ...

Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage ...

Banks need to rethink their business model to be able to better compete with financial technology (fintech) companies, Central Bank of Cyprus governor Constantinos Herodotou said at the Banking Forum ...

The future sustainability of the banking sector in Cyprus hinges on cutting costs for banks, including through the closure of branches and the downsizing of staff numbers, Hellenic Bank CEO ...

Visa Inc (V.N), the world’s largest payment processor, on Wednesday launched a global crypto advisory service for clients such as banks and also merchants, as the adoption of ...

The Turkish lira briefly slid 1 per cent on Monday, again nearing record lows touched last week as concerns persisted over President Tayyip Erdogan’s rate-cutting drive and Qatar said it ...

Loan restructuring jumped 400 per cent year-on-year in the first half of 2021, after the expiration of an installment moratorium due to Covid, Central Bank Governor Constantinos Herodotou said on Monday. Herodotou ...

The Bank of Cyprus has become the first bank in Cyprus to set up a dedicated management unit for technology companies that relocate to the island. The new technology hub ...

Total new loans granted by Cyprus’ banks decreased by € 72.6 million in October 2021, compared to the previous month, mainly due to the significant reduction of new loans to non-financial corporations for ...

Sterling edged lower on Friday as the potential for earlier Federal Reserve interest rate hikes strengthened the dollar overnight, although pandemic uncertainties continued to weigh on the broader forex market. ...

Turkey’s annual inflation jumped more than expected to a three-year high of 21.31 per cent in November, data showed on Friday, further exposing the risks of recent aggressive rate cuts ...

Britain’s markets watchdog said it will introduce new rules on Friday to boost London’s role as a global centre for listing companies to help catch up with New ...

EU antitrust regulators on Thursday fined Barclays (BARC.L), Credit Suisse (CSGN.S), HSBC (HSBA.L) and NatWest (NWG.L) 344 million euros ($390 million) for rigging the foreign exchange spot trading ...

Turkish President Tayyip Erdogan appointed a strong supporter of his low interest rate drive as minister of treasury and finance on Thursday, replacing the last top official seen to favour ...

The Bank of Cyprus has posted an after-tax profit of €19 million for the third quarter of 2021, with after-tax profit reaching €20 million for the first nine months of the year, it ...

Hellenic Bank said Tuesday it has posted an after-tax profit of €21 million for the first nine months of 2021, as net interest income rose to €192.8 million. Non-interest income was €74.2 million. “Despite ...

Turkey’s lira dipped to 13 to the dollar on Tuesday, resuming a slide towards last week’s record low as strong economic growth data failed to alleviate concerns about a ...

Regulatory reporting firm Point Nine has announced a partnership with US company FIS, looking to bolster its ability to provide trade and transaction reporting services to legal entities in overseas ...

Digitisation in banking is no longer just an option, but an imperative. Keeping customers’ needs top of mind, Hellenic Bank is constantly rolling out new products and services. By consciously ...

Turkish President Tayyip Erdogan has ordered an investigation into possible currency manipulation after the lira fell sharply to record lows against the dollar this week, the Anadolu news agency reported ...

The Cyprus University of Technology (Tepak) announced on Friday that it has managed to achieve significant savings in the total amount of property rents it pays to house its schools ...

The lira’s plunge has propelled Turkey’s exporter-dominated stock market to its best month in 12 years, but for foreign investors, who have just started dipping their toes in again, ...

Economic activity started recovering from the sharp recession as of the first half of 2021, driven mainly by domestic demand, although tourism activity still remains well below the pre-pandemic level, the ...