Banking and Finance

Turkey’s central bank cut its main interest rate to 8.5 per cent from 9 per cent on Thursday, moving to cushion the economic impact of a devastating earthquake that killed more ...

Banks’ shares have stumbled as they forecast pressure on margins Central bank policy rate has risen to 4 per cent, after decade near zero Deposit rates have not risen as fast ...

Emilios Tannousis, chairman of the Cyprus Investment Funds Association’s training and HR committee, as well as manager of wealth management at the Bank of Cyprus, this week released a ...

Switzerland sent 58.3 tonnes of gold worth 3.3 billion Swiss francs ($3.6 billion) to Turkey in January, by far the most for any month in records stretching back to 2012, Swiss customs data showed ...

Bond investors are starting to trim holdings of US debt to brace for a possible government default that they see as highly unlikely but potentially seismic for financial markets around ...

Eytan Morgenstern is facing a very expensive dilemma. The 36-year-old public relations professional has an opportunity to check something off his life ‘bucket list’: Seeing his favorite band, Metallica, play ...

Russian banks have rallied after an initial hit from last year’s Western sanctions against Moscow, with lenders now jostling for business from the state, particularly a burgeoning defence budget, ...

Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s ...

The Bank of Cyprus on Monday released its preliminary financial results for 2022, posting a profit after tax of €71 million for the entire year, marking a considerable increase over the €30 million ...

Britain’s biggest retailer Tesco Plc (TSCO.L) is planning to review its presence in the UK banking sector in a move that could lead to a sale of its ...

Cypriot bonds held by the Eurosystem in the context of the Public Sector Purchases Programme (PSPP) and the Pandemic Emergency Purchases Programme (PEPP) exceeded €7 billion in January 2023. On the basis ...

Japan will start a pilot programme in April to test the use of a digital yen, its central bank said on Friday, joining a growing number of countries seeking to ...

Chinese dealmaker Bao Fan, founder of investment bank China Renaissance Holdings, has gone missing in the latest disappearance of a top business executive, unnerving investors and sending its stock down ...

Goldman Sachs said it was expecting the US Federal Reserve to raise interest rates three more times this year by a quarter of a percentage point each, after data this ...

The Central Bank of Cyprus (‘CBC’) on Friday released a statement informing the public, businesses and depositors that an entity under the name ‘Turkish International Investment Bank’, to which reference ...

Financial sanctions against Russia have strangled its banks’ profits and wrecked many lenders’ international operations, but one year after Moscow sent its troops into Ukraine how much do they matter ...

NatWest (NWG.L) warned on Friday that rising interest rates may not deliver the long-lasting earnings bonanza investors hope for, even though profit jumped by 33 per cent last year. Shares ...

Running a business requires making important decisions that can have far-reaching implications for your finances. You may be wondering what type of business finance is best for your company and ...

The Association for the Protection of Borrowers (Syprodat) this week said that the new government should engage in dialogue with Cypriot banks in order to resolve the issue of non-performing ...

Britain’s stocks and bonds are drawing strong buying interest, not quite a vote of confidence in the economy but a reassuring sign for policymakers that a deep investment freeze ...

The Bank of Cyprus on Wednesday announced that it recently received the Quality Recognition Award from global finance giant JP Morgan Chase Bank, in recognition of the bank’s excellence ...

Britain on Tuesday will set out draft legislation to regulate “buy now pay later” credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are ...

The European Union on Tuesday announced that it had added the British Virgin Islands, Costa Rica, Marshall Islands and Russia to its list of non-cooperative jurisdictions for tax purposes. This ...

Credit cards are becoming increasingly useless in Venezuela because of high inflation and government restrictions, hurting people already struggling to meet daily needs on low salaries, banking industry sources, analysts ...