Banking and Finance

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 ...

The rouble has staged a lightening-fast recovery to levels last reached in the days before Russia invaded Ukraine, defying predictions that the war would launch it into freefall. The dramatic ...

Banks should beware of fake news that could trigger a run on their deposits, the European Union’s banking watchdog said in a warning on Friday about potential fallout from ...

Cyprus’ government deficit fell to €465 million at the end of the previous year, reflecting a reduction of €463.87 from 2020, according to a financial report released by the treasury this week. The ...

The dollar extended a rebound versus major peers on Friday ahead of a key US jobs report that could help the Federal Reserve decide whether to make an interest rate ...

Banks in Britain have warned the government that a plan to ban all Russians from holding more than 50,000 pounds ($65,430) in their accounts is illegal and unworkable, five sources said. When ...

Russia’s central bank said on Friday it was softening restrictions on foreign fund transfers for individuals for a six-month period. The bank said the measures, which raise an earlier ...

MUFG Investor Services, a leading company dealing in administration, asset servicing, banking and fund financing, announced on Thursday the opening of a new operational centre in Limassol. The company, which ...

The Bank of Cyprus on Thursday announced that, as part of its efforts to enhance security through technological solutions, will now notify its customers by push notifications and not by ...

Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the US dollar and could result in a more fragmented international monetary system, Gita Gopinath, IMF’s First ...

European stocks were little changed on Thursday, holding near recent one-month highs but set for the biggest quarterly drop since the start of 2020, while oil prices fell and eastern Ukraine ...

The Kremlin indicated on Wednesday that all of Russia’s energy and commodity exports could be priced in roubles, toughening President Vladimir Putin’s attempt to make the West feel ...

Cypriot telecommunications company Cyta on Wednesday announced the start of operations on the Arsinoe optical fibre subsea cable system. “Arsinoe strengthens the role of the organisation and, by extension, Cyprus ...

Although most of the 370 employees of RCB bank are set to be made redundant once its transformation into an asset management company is completed, there is uncertainty about when and ...

Saudi Arabia has deposited $5 billion in Egypt’s central bank, the Saudi state news agency reported on Wednesday, as the Egyptian economy faces new economic pressures as a result of ...

US sanctions against Russia should hasten a move by some countries to reduce their reliance on the US dollar, which could also soften demand for Treasuries just as the Federal ...

Lebanese central bank governor Riad Salameh is a suspect in a case the European Union’s criminal justice agency said on Monday had led to the freezing of some 120 million ...

Worrying talk of a push to re-establish a bank which cost us all so dearly The trigger for writing this article was a discussion on Omega TV last week which ...