Banking and Finance

The decision of Cypriot commercial banks to impose new charges on clients has sparked a fierce reaction from customers, trade unions, some political parties and interest groups. In the case ...

Workers at BNL, the Italian arm of French banking group BNP Paribas (BNPP.PA), went on strike for the first time since the 1990s on Monday in protest at back ...

The Bank of Cyprus Borrowers Association (Syprodat) on Monday called for an immediate reaction from the central bank and from parliament over plans by the commercial banks to hike their ...

Loan restructurings in the Cypriot banking system edged close to €2 billion in the first ten months of 2021, marking the highest figure according to Central Bank of Cyprus (CBC) records which ...

Turkey’s Financial Crimes Investigation Board (MASAK) imposed an 8 million lira ($751,314) fine on the local unit of cryptocurrency exchange Binance over violations found during liability inspections, the Anadolu news agency ...

A Danish woman was remanded in custody on Wednesday over her alleged involvement in a money laundering case in which more than 30 billion Danish crowns ($4.5 billion) was channelled through Danske ...

Cyprus has seen a 67 per cent increase in full-time researchers during the previous decade, according to a report released earlier this month by Eurostat, the statistical service of the European ...

Turkey’s lira was on track for its strongest week on record on Friday, having spiked 44 per cent with the support of billions of dollars of state-backed market interventions and ...

European shares ended on Wednesday at near one-week highs, led by gains in technology and industrial stocks, even as investors worried about the outlook for global recovery amid a rise ...

Turkey’s economy grew 7.4 per cent year-on-year in the third quarter, meeting expectations on the strength of retail demand, manufacturing and exports, official data showed on Tuesday, though it did ...

The burning issue of inflation was the subject of an online event held last Wednesday by the Cyprus Association of Economists (EOK) titled ‘Price Rises: Inflation Principle or Something Else?’. ...

A unit of NatWest Group (NWG.L) on Tuesday agreed to pay about $35 million and pleaded guilty to wire and securities fraud in relation to a long-running scheme by some ...

Turkey’s lira rocketed back from record lows in volatile trading on Tuesday after Turkish President Tayyip Erdogan proposed measures to protect local currency savings against such swings. Erdogan introduced ...

British public borrowing nearly halved in the first eight months of the 2021/22 financial year compared with a year earlier when finance minister Rishi Sunak was deep in his emergency pandemic ...

The Cyprus Investment Funds Association (CIFA) announced on Monday that the investment fund sector enjoyed significant growth during 2021, with the total amount of Assets under Management (AuM) increasing by 48.7 per ...

Turkey’s lira gained more steam and was up 7% on Tuesday following a historic 25% recovery from record lows, after President Tayyip Erdogan , Turkish liraunveiled a plan he said would guarantee ...

By Melina Moleskis What is behavioural economics in a nutshell? Behavioural economics is about observing and understanding human decisions up close without prior assumptions. Its aim is to make people’...

The number of finance jobs shifting from Britain to the European Union due to Brexit is less than initially expected despite billions of euros in share trading moving to the ...

The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 14.0 per cent in November 2021, reaching a level of 112.7, after year-over-year increases of 13.9 per cent in October and 13.4 per ...

UK-based Barclays Plc (BARC.L) said on Monday it had received approval from Australia’s prudential regulator to operate as a foreign bank in the country, as the lender continues ...

As bitcoin, the world’s largest cryptocurrency, struggles to recover after a massive crash, regulatory and private sector focus has turned to another part of the digital currency world: stablecoins. ...

The Bank of Cyprus announced on Friday that it has concluded its small-scale, targeted, voluntary staff exit plan. Following the completion of the plan, 100 applicants received approval to leave at ...

Lebanon’s central bank said on Thursday it would sell US dollars to commercial banks at the rate on its Sayrafa foreign exchange platform, but analysts said offering more hard ...

The Association of Cyprus Banks on Thursday took part in an online seminar examining the progress achieved in the Cypriot banking system, as well as the efforts to combat money ...