Vietnam c.bank buys dollars to shore up reserves after selloff
Vietnam’s central bank said on Tuesday it was making efforts to shore up foreign exchange reserves by buying up more US dollars, after it was forced to sell a ...
India’s Paytm CEO says there will be no more cash burn
SoftBank-backed Paytm (PAYT.NS) said on Wednesday that going ahead there will be no more cash burn in the business and that the Indian digital payments firm was far ahead ...
Stocks advance, US dollar retreats as China drops quarantine rule
Stock markets gained while the US dollar softened on Tuesday after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing ...
Taxpayers and depositors being taken for a ride
Between the government’s main focus being more and better paid public employees and banks’ passiveness and single-mindedness the economy only works for the few
President Nicos Anastasiades, Minister of ...
ECB must be ready to take the heat and raise rates more, Schnabel says
The European Central Bank must be prepared to take the heat and raise interest rates further, including by more than the market expects, if that is needed to bring down ...
Secular inflation, monetary policy, and interest rates
By Ioannis Tirkides
Central banks have been tightening for the most part of the year and will likely continue for a little longer into the early part of the new ...
Media mogul Michael Bloomberg looking to buy Dow Jones or Washington Post
Billionaire Michael Bloomberg, the owner of Bloomberg L.P., is interested in acquiring either Wall Street Journal parent Dow Jones or the Washington Post, news website Axios reported on Friday, ...
What is debt settlement and what are the risks?
Dealing with your creditors through negotiation is the process of debt settlement or debt resolution. You have two options: either do it yourself or hire a firm to do it ...
Seven benefits of cash payments during the holidays
Regardless of the season, the appropriate credit card may be a fantastic shopping aid. Credit cards, however, may offer important safeguards and cost savings during the hectic Christmas shopping season, ...
World Bank to lend $500 million to help Brazil meet climate goals
The World Bank´s board of directors approved late on Thursday a $500 million project in Brazil to expand sustainability-linked finance and strengthen the private sector’s capacity to access carbon ...
Digital payroll transformation strategies to withstand recession
Although the image is not ideal, recessions do not continue forever. Therefore, you must be more thoughtful in your digital transformation initiatives if you wish to weather this newest storm. ...
Wall Street tumbles on rate, recession worries, bleak chipmaker outlook
Wall Street’s major averages closed lower on Thursday with technology-heavy Nasdaq’s 2% drop leading losses as investors worried that data showing a resilient economy would lead the U.S. ...
European Central Bank withdraws RCB’s banking licence
The European Central Bank (ECB) on Thursday said it has withdrawn the banking licence of Cyprus’ RCB Bank Ltd. The decision follows the orderly completion of the bank’s voluntary ...
Rouble recovers from near eight-month low vs dollar
The rouble recovered on Thursday after hitting its weakest mark since late April as the prospect of a favourable month-end tax period mitigated concerns over the impact of sanctions on ...
How 2022 shocked, rocked and rolled global markets
Trillions of dollars wiped off world stocks, bond market tantrums, whip-sawing currency and commodities and the collapse of a few crypto empires – 2022 has been perhaps the most turbulent year investors ...
Cash loses top spot in euro zone as digital payments spread
Cash is losing its top spot as the euro zone’s dominant means of payment, a European Central Bank survey showed on Tuesday, in a historic shift for a part ...
Rouble slumps to weakest vs dollar since May
The rouble plunged to its weakest level since early May past 70 against the dollar on Wednesday, taking its monthly losses to almost 14% as fears over sanctions on Russian oil and ...
Hellenic CEO back and pursuing bank’s targets
By George Christou
Hellenic Bank CEO, Oliver Gatzke, after a two-month absence from his post, returned to the helm 10 days ago determined to deal with all pending issues facing and ...
Government surplus doubles from last year
The Cypriot government generated a surplus of €651.4 million for the period between July and September 2022, compared to a surplus of €319.5 million in the corresponding period last year, according to a ...
Central Bank launches new initiative to support fintech companies
The Central Bank of Cyprus (CBC) on Tuesday announced the launch of a new Innovation Hub in the field of financial technology (fintech), in an effort to encourage and support ...
BlackRock plans no big changes to ESG stance despite backlash
BlackRock (BLK.N) plans no major changes to the way it engages with companies and votes on environmental and social issues in the year ahead, despite a backlash against its ...
BoC asset quality and deposit base praised after rating upgrade
Limassol-based rating agency Capital Intelligence this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of the Bank of Cyprus (BoC) to ‘BB’, from ‘BB-‘.
In ...
Cyprus Business Now
The Bank of Cyprus was named Bank of the Year in Cyprus for 2022 by the international magazine ‘The Banker’.
According to an announcement from the Bank of Cyprus, Panicos Nicolaou, ...
Central Bank digital currencies as weapons of finance?
By Maria Demertzis
Central bank digital currencies (CBDCs) have become a reality in ten countries: a number of countries in the Caribbean plus Nigeria. As a digital equivalent of a ...