International firm chooses Cyprus because it was ‘top of the list’
Earlier this year, MUFG Investor Services, the asset servicing arm of one of the largest global banks in terms of assets, announced its intention of setting up a new operational ...
Selk proposes plan to develop Cyprus economy
The Institute of Certified Public Accountants (Selk) on Thursday submitted a six-part plan to further develop the Cypriot economy and businesses.
“Maintaining the strength of our economy does not depend ...
Cyprus 4.0: The Role of Financial Services in Society
Saturday, June 25 with your copy of the Cyprus Mail.
Finance plays a critical role for society at large, serving individuals, families, businesses, governments, and civic institutions. In this issue, we ...
Full Brexit yet to play out on British finance, lawmakers say
Britain should avoid major, hasty reforms to make its financial sector more globally competitive following the industry’s separation from the European Union by Brexit, a parliamentary report said on ...
Lebanon banks association calls IMF draft agreement ‘unlawful’ in letter
Lebanese banks said the country’s draft agreement with the International Monetary Fund was “unlawful” and “unconstitutional” in a letter sent to the IMF by an adviser of the Association ...
Bank of England’s Mann says weak pound makes case for big rate hike
The Bank of England should raise rates faster than it has so far because the sterling’s weakness is adding to Britain’s inflation pressures, interest-rate setter Catherine Mann said ...
RCB completes transfer of second portfolio tranche to Hellenic Bank
RCB Bank on Monday announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank has been successfully completed.
This follows the original statement released on ...
ECB won’t solve profound debt issues: Rehn
The European Central Bank should limit the rise in borrowing costs of more indebted euro zone members but will not solve their debt issues or let budget concerns dictate monetary ...
Rethinking macroeconomic policy after the pandemic
By Michalis Sarris
The policy response of Governments and Central Banks to the pandemic was massive and unprecedented. In the USA, the Federal Reserve Bank put out $3 trillion in high-powered ...
Full force of central banks siphoning world liquidity
Coordinated or not ahead of this month’s G7 summit, global central banks are accelerating interest rate hikes but also actively draining the giant pool of cash swilling around world ...
Cyprus Fiscal Council recommends caution in public finances due to increased risks
The Cyprus Fiscal Council recommends particular caution in public finances due to increased risks, which may persist over time, expressing the view that support measures should be focused on small ...
ECB promises new instrument to support indebted members
The European Central Bank promised fresh support and a new scheme on Wednesday to temper a market rout that has fanned fears of a new debt crisis on the euro ...
Explainer: What is a bear market?
The S&P 500 index, the most closely followed benchmark for US equities on Wall Street, has slid this year as inflation jumped to its highest rate in 40-years.
On ...
Lending rates to increase gradually
By Yiannis Seitanidis
Hellenic Bank CEO Oliver Gatzke said he expected there would be some time between the ECB’s rate hike in July and an increase of lending rates ...
ECB to discuss market rout in unscheduled meeting
The European Central Bank’s policy-setting Governing Council will hold a rare, unscheduled meeting on Wednesday to discuss the turmoil in bond markets, underscoring official concern around a blowout in ...
The funds making moolah from messy markets
The crypto market’s a hot mess, leaving many investors struggling to turn a buck. Enter the arbitrageurs.
Bitcoin and other cryptocurrencies have either been shackled to ranges or in ...
Soaring inflation fuels bets on sharper Fed rate hikes
Stubbornly hot US inflation is fueling bets that the Federal Reserve will get more aggressive about trying to cool price pressures and even potentially ditch its own forward guidance by ...
Crypto regulation efforts need to keep pace with market growth
The number of Canadians who own cryptoassets is growing rapidly and efforts to regulate the sector need to start keeping pace, a senior Bank of Canada official said, noting many ...
Uncertainty and ECB rate hike announcement push Cypriot bonds yields upwards
Economic uncertainty amid the Ukraine war and the European Central Bank rate hikes announcement are pushing Cyprus bond yields upwards in the wider context of sovereign bond sell-off in secondary ...
Three headaches for the European Central Bank
By Maria Demertzis
In its latest forecast published on 16 May, the European Commission expects inflation in the euro area to be 6.1 per cent and growth 2.7 per cent in 2022. The last ...
Hellenic Bank records €25.1 million after-tax profit in Q1 2022
Hellenic Bank recorded an after-tax profit of €25.1 million in the first quarter of 2022 and announced that it has already embarked on a 3-year transformation journey to unleash its potential and ...
Growth at 2.7 per cent, inflation at 7 per cent for 2022
The growth rate for 2022 is expected to be 2.7 per cent, while inflation will rise to 7 per cent, according to the revised June forecasts, published by the Cyprus Central Bank on ...
UK lenders no longer too big to fail, says BoE
The Bank of England said on Friday it was satisfied lenders had taken steps to ensure they were no longer “too big to fail” in any future crisis, though it ...
House unanimously passes law to fast-track part of lost Laiki deposits
By unanimous vote, the House on Thursday passed legislation aiming to fast-track the return of at least part of the moneys that legacy Laiki’s depositors lost when the bank ...