Banking and Finance

Alpha Bank Cyprus has announced the appointment of Michael Colakides as its new chairman of the board of directors. “The choice of Michael Colakides, who has served successfully in leadership ...

New consumer loans, mortgages and new loans above €1 million increased in September compared to the previous month of this year, data released by the Cyprus Central Bank, on Wednesday show. ...

Some 140 million people had opened “wallets” for China’s new digital yuan as of October and used it for transactions totalling around 62 billion yuan ($9.7 billion), a senior Chinese central bank ...

Turkey’s annual inflation rate rose to its highest in more than 2-1/2 years in October, data showed on Wednesday, as the central bank, under political pressure to provide more ...

The government’s policy priorities remain the same despite the adverse effects of the coronavirus pandemic, Minister of Finance Constantinos Petrides said at the 7th International Funds Summit on Monday. “...

Barclays (BARC.L) chief executive Jes Staley is leaving the bank after a dispute with British financial regulators over how he described his ties with convicted sex offender Jeffrey Epstein. ...

By Paul Lambis With environmental issues topping the list on every organisation’s agenda, Environmental, Social and Governance (ESG) are becoming more relevant for financial institutions. Compared to many of ...

“The role of the CFO has always been key not only within a company but also in the business world. However, this pivotal role has undergone a profound transformation in ...

Cyprus’ banks are the backbone of the community. Their ongoing investment in both people and businesses has helped many companies flourish, in both good and bad times. The Covid-19 pandemic ...

As part of its Corporate Social Responsibility (CSR), Hellenic Bank emphasizes on sustainable practices and supporting ‘green’ initiatives and businesses. Cognizant of its responsibility to the environment and the community, ...

The Cypriot economy is expected to grow more than previously expected according to a report by the University of Cyprus Economic Research Centre. According to the report, Cyprus’ real GDP ...

The Beau Rivage Hotel in Larnaca has begun to be demolished, a process estimated to take somewhere between two and three months to be completed. As confirmed by NCH Managing ...

NatWest’s (NWG.L) profit tripled in the third quarter as Britain’s resurgent economy buoyed its finances, but its margins contracted in a sign of potentially tougher times ahead. ...

According to the Cyprus Statistical Service (Cystat), industrial production marked a year-on-year increase of 9.3 per cent in the period of January – August 2021. According to the Cystat data, the Industrial Production ...

Quant Insight (Qi), a new quantitative financial market analytics and trading insights provider, announced on Wednesday that it has opened its new headquarters in Limassol. The company also has offices ...

The total amount of non-performing loans (NPLs) decreased by approximately €8 million in July over the previous month. This has resulted in a reduction of the NPLs index to 17.4 per cent ...

Hellenic Bank has released new eco-friendly credit and debit cards made out of biodegradable material. Available since Monday, October 25, in Mastercard form, the new cards require 82 per cent less PVC (...

Eurozone banks tightened access to mortgages in the three months to September and expect to continue doing so in the final quarter of the year, a European Central Bank survey ...

Turkey’s state banks are expected to cut borrowing costs on loans by around 200 basis points on Monday, according to three people with knowledge of the plan, following last week’...

DBRS Morningstar credit rating agency has confirmed Cyprus’ long-term foreign and local currency – issuer ratings at BBB (low) and changed the trend to positive from stable. At the same time, ...

Finance Minister Constantinos Petrides said on Friday that the green transition will not be a painless process, highlighting the financial burdens it will likely incur on some sections of the ...

The Governor of the Central Bank of Cyprus Constantinos Herodotou said that financial literacy is a key element for a well-functioning economic system and thus a minimum requirement for sustainable ...

A record proportion of the British public thinks inflation will accelerate over the next 12 months, according to data that could further boost expectations that the Bank of England will raise ...

Barclays (BARC.L) reported on Thursday a doubling of third-quarter profits, beating market expectations, as it followed Wall Street rivals in reaping bumper investment banking fees from a surge in ...