Banking and Finance

The biggest single pipeline carrying Russian gas to Germany starts annual maintenance on Monday with flows expected to stop for ten days. Markets fear the shutdown might be extended due ...

Russia’s dominant lender Sberbank (SBER.MM) on Saturday said it had carried out the first digital financial asset transaction on its own platform, with its subsidiary SberFactoring executing a 1...

The Bank of Spain has registered the local unit of the world’s largest crypto exchange Binance as a virtual currency platform with procedures in place against money laundering and ...

By Maria Demertzis France’s finance minister, Bruno Le Maire, has compared crypto markets to the wild west. At the end of last week, in the last moments of France’...

The upcoming corporate earnings season could prompt another sharp fall in global share prices with profit forecasts looking far too upbeat given mounting recession risks, investors and analysts warn. After ...

Whoever coined the phrase “king dollar” certainly had good reason for doing so and currency trading this week only confirms that the epithet holds true. With recession risks running high, ...

The euro edged higher on Thursday, supported by rising risk appetite but still within striking distance of its two-decade low as surging energy prices fuel recession fears. Meanwhile, implied volatility ...

The Turkish central bank is ready to source unlimited funding for lira rediscount credits extended to exporter companies, a source with knowledge of central bank actions said on Wednesday. Turkish ...

Total new loans recorded an increase in May 2022, amounting to €362.9 million in total, according to a report released this week by the Central Bank of Cyprus. This has been primarily ...

Finance Minister Constantinos Petrides on Wednesday said that the government’s long-term economic strategy Vision 2035 is based on tangible actions and is designed to tackle the challenges that Cyprus will ...

The Turkish lira weakened 0.5 per cent against the dollar early on Wednesday, hit by broad strength in the U.S. currency and by investor concerns about soaring inflation and economic ...

The euro slumped to a two-decade low on Tuesday as the latest surge in European gas prices added to the region’s recession worries and a rebound in US Treasury ...

The Bank of Cyprus on Monday announced that it will implement a voluntary retirement scheme that will seek to reduce its staff by 15 per cent, which amounts to approximately 500-600 ...

The Central Bank of Cyprus released a report this week noting that the country’s international investment position (IIP) improved slightly at the end of the first quarter. In addition, ...

Hellenic Bank remains focused on its goal for a long-term positive impact on society and the environment. This commitment is also reflected in the Bank’s Annual ESG Impact Report ...

The amount of total deposits in the Cypriot banking system decreased in May, but still represented nearly double the amount of loans, according to a report released by the Central ...

Investors knew that, after two years of COVID-19 chaos, 2022 would be a bumpy ride, but nobody expected this – the most turbulent first-half global markets have ever seen. To grasp just ...

Russian lender VTB’s (VTBR.MM) VTB Factoring subsidiary and fintech company Lighthouse have executed the country’s first cash-backed digital financial asset transaction, the bank said on Wednesday. In ...

Rating Agency DBRS Morningstar on Wednesday slashed Cyprus’ baseline growth rate by 0.7 per cent for 2022, citing a deteriorating outlook following Russia’s invasion of Ukraine. In its updated sovereign baseline ...

A nearly $17 billion JP Morgan fund is expected to reset its options positions on Thursday, potentially adding to equity volatility at the end of a dismal first half for stocks. ...

Barry Iacovou is the CEO of BDO Cloud Services Limited, a subsidiary of the Cyprus member firm of BDO International. The company was set up specifically to house ‘BDODrive,’ the ...

Cyprus’ Central Bank on Tuesday hailed the adoption by the Cabinet of the report of an ad hoc committee on financial literacy, saying that this is a step forward for ...

The CFA Society Cyprus on Tuesday announced the successful completion of its forum on the future of the Cypriot economy. CFA Society Cyprus, which boasts more than 120 members, is the ...

Credit Suisse CSGN.S was convicted by Switzerland’s Federal Criminal Court on Monday of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country’s first ...