Banking and Finance

American credit rating agency Fitch Ratings announced on Wednesday that it has revised the Bank of Cyprus’ outlook to positive from negative, while at the same time affirming the bank’...

The total value of Assets under Management (AuM) of Collective Investments reached €11.6 billion in the third quarter of 2021, according to a report released on Wednesday by the Cyprus Securities and ...

As is the case with the global and European economies, the course of the Cypriot economy continues to greatly depend on the pandemic but despite being characterised by uncertainty, the ...

This article summarises the discussion Forum organised by the Cyprus Economic Society on 14 October 2021 on the German Elections and What it Means for Europe. The speaker was Dr Christian Odendahl, ...

Point of sales (POS) terminals have seen a 15 per cent rise in Cyprus between 2018 and 2020, according to a survey of 14 countries in central and eastern Europe conducted by technology company ...

HSBC (HSBA.L), Europe’s leading banker to corporate Asia, laid out its long-awaited policy on financing thermal coal on Tuesday, and said it expected all its clients to have ...

Central Bank of Cyprus governor Constantinos Herodotou said on Monday that he is seeking ways to expedite banks’ client digital onboarding and reviewing processes, with Cypriot banks participating in this ...

NatWest has been fined 265 million pounds ($350.9 million) for failing to prevent the laundering of nearly 400 million pounds, in the first criminal money laundering case against a British bank. A gang ...

A Paris appeals court on Monday slashed the penalty UBS (UBSG.S) must pay for allegedly helping wealthy clients in France evade taxes to 1.8 billion euros ($2.03 billion), but upheld that ...

President Tayyip Erdogan is expected to hold talks with the central bank governor, finance minister and heads of state banks on Monday, sources told Reuters, as the lira plummeted to ...

Bitcoin rose on Sunday to reclaim levels above $50,000. The world’s biggest and best-known cryptocurrency gained 2.11 per cent to $50,445.34 at 1803 GMT on Sunday, adding $1,044.80 to its previous close. Bitcoin is ...

RCB Bank CEO Kirill Zimarin earlier this week presented the bank’s new Nicosia Banking Centre, in conjunction with his thoughts on the banking sector, explaining that the relationship between ...

By Maria Demertzis The discovery of the latest Omicron variant of COVID-19 sent stock markets into a freefall on Black Friday. However, markets recovered on Monday and have since shrugged ...

The Turkish lira edged to near record lows on Friday as concerns about President Tayyip Erdogan’s low interest rate policy were fueled by a central bank survey showing one ...

Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage ...

Banks need to rethink their business model to be able to better compete with financial technology (fintech) companies, Central Bank of Cyprus governor Constantinos Herodotou said at the Banking Forum ...

The future sustainability of the banking sector in Cyprus hinges on cutting costs for banks, including through the closure of branches and the downsizing of staff numbers, Hellenic Bank CEO ...

Visa Inc (V.N), the world’s largest payment processor, on Wednesday launched a global crypto advisory service for clients such as banks and also merchants, as the adoption of ...

The Turkish lira briefly slid 1 per cent on Monday, again nearing record lows touched last week as concerns persisted over President Tayyip Erdogan’s rate-cutting drive and Qatar said it ...

Loan restructuring jumped 400 per cent year-on-year in the first half of 2021, after the expiration of an installment moratorium due to Covid, Central Bank Governor Constantinos Herodotou said on Monday. Herodotou ...

The Bank of Cyprus has become the first bank in Cyprus to set up a dedicated management unit for technology companies that relocate to the island. The new technology hub ...

Total new loans granted by Cyprus’ banks decreased by € 72.6 million in October 2021, compared to the previous month, mainly due to the significant reduction of new loans to non-financial corporations for ...

Sterling edged lower on Friday as the potential for earlier Federal Reserve interest rate hikes strengthened the dollar overnight, although pandemic uncertainties continued to weigh on the broader forex market. ...

Turkey’s annual inflation jumped more than expected to a three-year high of 21.31 per cent in November, data showed on Friday, further exposing the risks of recent aggressive rate cuts ...