Banking and Finance

Turkish President Tayyip Erdogan is losing confidence in Sahap Kavcioglu, his latest appointment as central bank governor, and the two have communicated little in recent weeks, three sources familiar with ...

Governments should start planning a return to more sustainable budgets with policies that win the trust of investors, after unprecedented fiscal stimulus to fight the COVID-19 pandemic, the International Monetary ...

The Public Debt Management Office has reported that the total amount of public doubt is expected to decrease to €24.1 billion by the end of 2021. The office added that the government ...

Ireland dropped its opposition to an overhaul of global corporate tax rules on Thursday, agreeing to give up its prized 12.5% tax for large multinationals in a major boost to efforts ...

NatWest pleaded guilty on Thursday to failing to prevent the laundering of nearly 400 million pounds ($544 million) and faces a heavy fine after becoming the first bank in Britain to admit ...

Stablecoins would have to comply with the same safeguards as their more traditional competitors in payments under proposals from regulators on Wednesday as authorities get to grips with a rapidly ...

The 2022 state budget will feature a significant fiscal correction, after two years of high deficits, said finance minister Constantinos Petrides, while handing it to the President of the House of ...

The Cyprus Securities and Exchange Commission (CySEC) is participating in World Investor Week, a global campaign seeking to educate and protect investors. Through its participation in World Investor Week, CySEC ...

The finance ministry is trying to secure an extension of the period in which banks can provide businesses and the self-employed with state-guaranteed loans, as it expires at the end ...

Limassol-based GP General Procurement Compan Limited (GenPro), a maritime and commercial procurement company, held its first annual Blue Day Sustainability Seminar in September. The seminar focused on the company’s ...

Lending criteria to both businesses and households remained unchanged in the second quarter of 2021, but it is expected that they will become stricter in the third quarter of the year, ...

Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed on ...

Investigations into the roles of now-IMF Managing Director Kristalina Georgieva and former World Bank president Jim Yong Kim in altering World Bank data to favour China are the latest in ...

Switzerland’s economic affairs secretariat (SECO) has filed a criminal complaint in relation to collapsed financier Greensill Capital for alleged violations of the law against unfair competition, it told Reuters ...

The advent of digital currencies in emerging markets could spark “cryptoization” of local economies, potentially undermining exchange and capital controls and upsetting financial stability, the International Monetary Fund said on ...

Eurozone inflation hit a 13-year high last month and looks likely to jump higher still, further clouding the European Central Bank’s benign view of the biggest price spike since ...

Standard Chartered said on Friday it now expects Turkey’s central bank to cut interest rates by another 300 basis points by year-end to 15 per cent and upped its 2021 inflation and ...

Bitcoin was up 5.23 per cent at $43,716.97 as of 22:08 GMT on Thursday, adding $2,174.07 to its previous close. The world’s biggest and best-known cryptocurrency has gained 57.6 per cent from the year’...

Central Bank of Cyprus governor Constantinos Herodotou has sent a letter to banks and credit acquisition companies regarding short term loan restructurings and fee transparency, calling on their CEOs to ...

Non-performing loans (NPLs) decreased by €142 million in June 2021, according to data released by the Central Bank of Cyprus. This decrease reflects a 2.8 per cent aggregate drop compared to the previous ...

A delegation of Cypriot representatives travelled to London this week to promote Cyprus as a European jurisdiction in which investment funds and fund management companies can be registered. The delegation ...

DP World Limassol used World Tourism Day to reiterate its commitment to further bolster the country’s cruise industry and turn the Limassol port into a top cruise hub in ...

Volunteers Team plays an active role in social matters Hellenic Bank places people at the centre of its operations, be it in terms of sustainable growth planning or through its ...

The Cyprus Shipping Chamber held its annual charity beach volley tournament in Limassol between September 19 and September 26. The tournament included the participation of the chamber’s member companies and was ...