Banking and 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 ...

The rouble strengthened on Wednesday after Russia said it had halted gas supplies to Bulgaria and Poland, firming to a more than two-year high against the euro in Moscow trade ...

Ether has promised to do better. It has promised to go to the next level, edging out crypto rivals and even outshining the godfather, bitcoin. But the clock’s ticking. ...

The German government is set to hike its inflation forecast for this year to 6.1 per cent due to the impact of the war in Ukraine, up from 3.3 per cent it ...

Looking for ways to manage your Bitcoin investment? If so, here’s a guide to help you manage your crypto asset. So, you have decided to venture into Bitcoin investing? ...

Several Russian banks plan to issue payment cards that use the network of China UnionPay as well as that of home-grown payment system Mir, after Visa Inc (V.N) and ...

Accumulating huge amounts of idle cash By Les Manison In response to the financial crisis of 2012/13 the government in agreement with the troika of international institutional institutions took measures to ...

Hellenic Bank on Thursday posted its financial results for the previous year, showing a loss of €11.7 million for 2021. This primarily reflects impairment losses related to the completion of Project Starlight, ...

European shares were lower on Tuesday, while yields on 10-year US inflation-linked bonds were close to turning positive for the first time in two years, as the prospect of aggressive ...

The euro rose on Thursday ahead of the European Central Bank meeting expected to outline a clearer schedule for unwinding stimulus, opening up the possibility of a first rate hike ...