Banking and Finance

By Charalambos Sergiou, Alexandros Vacanas and Nikolas Stratis Blockchain technology is based on the establishment of a decentralised network of trust between unknown participants, facilitating peer-to-peer transactions in a cost-efficient ...

The euro edged off five-year lows to rise back above $1.04 on Friday, but it is headed for a big weekly loss after Russia’s decision to restrict gas supplies to ...

Finance Minister Constantinos Petrides on Thursday defended the government’s actions to deal with the recent rise in consumer prices, saying that the measures that have been taken so far ...

By Yiannis Seitanides A significant gap remains as to the way a reduction in staff can be achieved at Hellenic Bank, despite an agreement among stakeholders, including the bank’s ...

Cypriot banks were presented with bad checks worth a total of €438,000 in April, according to data released on Wednesday by the Central Bank of Cyprus (CBC). This is the largest ...

MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, on Wednesday announced that it has appointed Yannis Matsis as managing director and head of its office ...

Fitch Ratings on Tuesday said that the ratings of the Bank of Cyprus and Hellenic Bank have been kept on Positive Outlook in spite of the escalating global economic dangers ...

Fewer than a fifth of actively managed emerging market equity funds have cut their exposure to Russian stocks to zero, data from Copley Fund Research shows, with a number of ...

The bank employees union Etyk on Monday called on bank workers to strike over a proposal by Hellenic Bank to make half of its staff redundant as a former finance ...

Cypriot authorities are expected to submit a formal request to the EU’s Directorate General for Competition for the implementation of the European Commission’s ‘mortgage to rent’ scheme in ...

Lawmakers blocked a bid to overhaul strict Swiss banking secrecy rules on Friday in a blow to freedom of information advocates seeking an exemption for journalists and whistleblowers. Switzerland has ...

The European Union aims to cut off Sberbank (SBER.MM), Russia’s largest lender, from the SWIFT international payment system as Western allies seek to further isolate Moscow from financial ...

Governor of the Central Bank of Cyprus Constantinos Herodotou said on Thursday that the banking sector of Cyprus faces the effects of the Russian invasion of Ukraine from a financially ...

The non-performing loan ratio (NPL) of the Cypriot banking sector increased in January, according to a report by the Central Bank of Cyprus released on Thursday. The NPL ratio rose ...

By Yiannis Seitanides Hellenic Bank will lay off more than 10 per cent (350) of its work force and shut down 20 branches by the end of the year, as part of a ...

Cyprus Chamber of Commerce and Industry (Keve) president Christodoulos Angastiniotis earlier this week said that the local businesses are now focused on enduring the current economic crisis. “The business community’...

Russia may have averted default as it announced it had made several overdue payments in dollars on its overseas bonds, shifting the market’s focus to upcoming payments and whether ...

European stocks suddenly fell on Monday before partly recovering in what brokers described as a “flash crash” or an erroneous trade on a day where a holiday-thinned trading activity. The ...

HSBC Holdings’ (HSBA.L) largest shareholder, Chinese insurance giant Ping An (601318.SS), has called for a break-up of the London-based bank, a source familiar with the matter said on Friday. ...

Inflation’s surge following excessive stimulus and an energy crisis makes the way ahead hazardous By Andrew Shouler Stagflation is upon us, inflation leading towards economic stagnation. Western economies are ...

Cyprus’ fiscal accounts in the last quarter of 2021 generated a surplus of €37.7 million compared with a deficit of €648 million in the respective period of 2020. According to preliminary data released on ...

The government anticipates that the European Commission will soon give it the green light to roll out the ‘mortgage to rent’ scheme. Speaking to the state broadcaster on Thursday, the ...

Cyprus´s Union of Bank Employees (Etyk) urged Hellenic Bank staff on Thursday to go on the offensive in response to what it deemed the “easy solution” mass redundancy plans ...

The euro’s drop to a five-year low is rekindling the possibility the currency will reach parity versus the dollar for the first time in two decades, as fears of ...