Banking and Finance

Cyprus’ Gross Domestic Product (GDP) was revised to €24.01 billion at current prices for 2021 and to €21.89 billion for 2020, according to a report released on Monday by the Cyprus Statistical Service (Cystat). ...

Mexico’s biggest non-bank lenders may need to become licensed banks, analysts said, as they maneuver through growing market turmoil to avoid the fate of three big peers who defaulted ...

London shares rose on Monday as new finance minister Jeremy Hunt reversed Prime Minister Liz Truss’s economic plan announced three weeks ago that slammed UK markets and dented investor ...

Goldman Sachs is planning a major reorganization as part of which its storied investment banking and trading businesses will be combined, while consumer banking will be absorbed by its wealth ...

Creating a US central bank digital currency is likely not important to the long-term status of the US dollar, Federal Reserve Governor Christopher Waller said Friday. In a speech during ...

Non-performing loans (NPLs) in Cyprus’ banking sector stood at €2.85 billion at the end of July 2022, reflecting a decrease of €69 million compared to the previous month, according to a report published ...

The shareholders of the International Monetary Fund and World Bank on Friday selected Ukrainian Finance Minister Serhiy Marchenko as the next rotating chair of the boards of governors of both ...

The island’s inland revenue service on Friday warned businesses that they must adopt the use of card payment machines or risk hefty fines. In a statement, it warned that ...

Investors piled cash into sterling money-market funds at more than three times their usual rate during the recent turbulence in British bond markets, and pension funds likely made up the ...

Global investors and banks have been voicing confusion about their efforts to convert depositary receipts of Russian companies into ordinary shares in compliance with a new Russian law, according to ...

European Central Bank policymakers are closing in on a deal to change rules governing trillions of euros worth of loans to banks in a move that will shave tens of ...

The Association for the Protection of Borrowers (Syprodat) on Tuesday released a statement in which it requests meetings with House Speaker Annita Demetriou, Central Bank Governor Constantinos Herodotou, as well ...

The Bank of England acted again on Tuesday to stem a sharp sell off in Britain’s 2.1 trillion-pound ($2.31 trillion) government bond market by announcing the purchase of inflation-linked debt until ...

JPMorgan Chase & Co JPM.N Chief Executive Jamie Dimon said the United States and the global economy could tip into a recession by the middle of the next year, ...

The residual entities of the now-defunct Cyprus Cooperative Bank (CCB) have signed a deal involving the transfer of the former lender’s assets. In a statement, Kedipes (Cyprus Asset Management ...

While British households head into a winter of soaring energy costs, a tumbling currency and nearly double-digit inflation, the country’s banks are in line for a handsome payday as ...

The Bank of England moved to ease concerns about the expiry at the end of this week of its emergency programme to calm turmoil in the government bond market, including ...

Ratings agency Moody’s on Wednesday announced that it has upgraded the Bank of Cyprus and Hellenic Bank’s long-term ratings, including their long-term bank deposit ratings to Ba2, from ...

Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies. The trial, which ...

Net new lending in Cyprus fell during August 2022, dropping to €182.3 million, the second month in a row where a decrease was observed, according to a report released on Tuesday by ...

Swiss lender Credit Suisse Group AG (CSGN.S), battered by scandals and losses, is racing through a restructuring plan. Wild market swings and a social media storm are making that ...

Britain’s bond market is undergoing “a major repricing”, but should comfortably absorb the extra 62 billion pounds ($69 billion) of debt announced after finance minister Kwasi Kwarteng’s Sept. 23 mini-budget, the ...

British finance minister Kwasi Kwarteng on Monday abruptly dropped his plan to eliminate the top rate of income tax, part of his Sept. 23 “mini budget” that triggered a rout of ...

Calls to the Bank of England saying some British pension funds were struggling to meet margin calls began on Monday. By Wednesday they were getting more urgent and coordinated. Wild ...