Euro jumps to 3-week high amid hawkish ECB signals, dollar idles
The euro jumped to a more than three-week peak versus the dollar on Monday, and sterling rose to the highest this month as European Central Bank officials pushed the case ...
ECB governors see rising risk of rate hitting 2 per cent to curb inflation
European Central Bank policymakers see a rising risk that they will have to raise their key interest rate to 2 per cent or more to curb record-high inflation in the euro ...
Payments giants to apply new code identifying sales at US gun stores
Visa Inc (V.N), the world’s largest payments processor, said on Saturday it will implement a new merchant category code for US gun retailers, which will identify transactions at ...
Turkey’s central bank reserves boosted by friendly country support, Erdogan says
The Turkish central bank’s foreign currency reserves are getting stronger as friendly countries are providing support, President Tayyip Erdogan said, broadcaster Haberturk reported on Friday.
The central bank’s ...
Central banks up the odds in the fight against inflation
By Ioannis Tirkides
In a previous article, we published in these pages, titled, ‘A new era of monetary policy is just beginning’, we discussed the changing monetary landscape in the ...
Cyprus Business Now
Association for the Protection of Borrowers (Syprodat) this week welcomed the Central Bank of Cyprus’ call for tenders for a project to digitally verify the data of bank clients.
The ...
EY’s Greater China member firms say they won’t take part in firm’s global break-up
Member firms of Ernst & Young (EY) in the Greater China region will not participate in a global plan by the professional services firm to split its audit and consulting ...
BoE delays rate decision meeting by a week after Queen’s death
The Bank of England on Friday postponed next week’s interest rate decision following the death of Queen Elizabeth, its first delay to a monetary policy meeting since the central ...
Bearing the scars: One year of Turkey’s unorthodox easing cycle
Nearly 12 months ago, Turkey’s central bank embarked on a rate-cutting cycle in the face of soaring inflation, defying traditional monetary policy and running against a global trend of rising ...
EY plans to spin off audit, consulting units to ease regulatory concerns
Ernst & Young (EY) said on Thursday it was planning to split its audit and consulting units into two companies, as the professional services firm looks to ease regulatory concerns ...
3D Global CEO: ‘Risk cannot be eliminated, but it can be understood’
3D Global, a financial services and wealth management advisory firm headquartered in Limassol, has gone from strength to strength according to its new CEO.
The company recently announced that founder ...
Cyprus Business Now
The bank employees union Etyk this week announced that it has reached an agreement with the Association of Cyprus Banks for the renewal of their collective agreement.
Etyk said that ...
ECB poised for another big rate hike as inflation soars
The European Central Bank will raise interest rates again on Thursday to fight runaway inflation and, with a big move and a record one under consideration, the only question is ...
S&P upgrades Bank of Cyprus, praises NPL reduction
Rating agency S&P Global Ratings this week announced that it has revised upwards its long-term issuer credit rating on the Bank of Cyprus (BoC) to ‘BB-‘ from ‘B+’, ...
Europe’s banks dim lights as they brace for winter blackout
Some of Europe’s biggest banks are preparing back-up generators and to dim the lights as they brace for potential power cuts and energy rationing that threaten the money system ...
Lone Star considering revised offer for the Bank of Cyprus
Private equity firm Lone Star, in a statement issued on Tuesday to the London Stock Exchange, said that it is considering its options in terms of submitting a revised offer ...
Cyprus banks tighten lending criteria due to geopolitical uncertainty
The Central Bank of Cyprus (CBC) on Tuesday announced that it has recorded a tightening of lending criteria, combined with a decline in net demand for loans, during the second ...
Big rate hike won’t save euro as energy shock deepens
The hit to the euro zone economy and its currency from a deepening energy crisis is so severe that more aggressive monetary tightening from the European Central Bank will do ...
Credit Suisse expands in Qatar, launches tech hub
Credit Suisse (CSGN.S) will expand in Qatar via a partnership with the Gulf country’s Investment Promotion Agency (IPA Qatar), the Swiss bank said on Monday.
It will create ...
Sterling slides to post-pandemic low before new PM revealed
Sterling plumbed a fresh post-pandemic low on Monday as Russia kept one of its main gas supply routes to Europe shut, adding to recession fears on the day that Britain ...
Use Bank of Cyprus app to deposit cheques yourself
As the Bank of Cyprus continues efforts to steer customers away from its branches, it on Monday reminded customers they can deposit a cheque themselves using the bank’s app.
...
Misguided policies aggravating euro area problems
Cyprus borrowed heavily with low-cost bond issues to finance their excessive current expenditures
Economic and financial crises in the euro area are fast developing. With supply-side problems most strikingly reflected ...
Lagarde, ECB board due in Cyprus next month
President of the European Central Bank (ECB), Christine Lagarde, will be in Cyprus next month.
This will be her second visit to the island this year.
This time the President ...
Cyprus Business Now
There was an increase in lending rates and a decrease in new loans in July 2022, according to a report released this week by the Central Bank of Cyprus.
According to ...