Banking and Finance

Credit agency Fitch Ratings on Friday affirmed Cyprus’s ‘BBB-‘ credit rating in a note. A ‘BBB-‘ rating indicates a low indication of default, but some business or economic factors ...

Swiss bank EFG got a solid thumbs-up from credit rating agency Moody’s on Friday, in a review. Moody’s noted the the Zurich-headquartered banking group’s absolute and relative ...

In 2020, as the world convulsed under COVID-19 and the global economy faced its worst recession since World War II, billionaires saw their riches reach new heights. Now some are talking ...

By George Eid and Andrew Rosenbaum Last week, Roger Zaccar moved his company, which disrupts insurance sales with a mobile app, from Beirut to Limassol. Zaccar told the Cyprus Mail ...

Fidelity applied on Wednesday to launch an exchange traded fund to track the performance of bitcoin, the latest move on Wall Street to embrace the digital currency. Fidelity’s Wise ...

Only a few weeks ago, many European countries were hoping their more affluent citizens would by now have started spending nest eggs built up during the pandemic to trigger a ...

As protests flare in the streets of Beirut every day, and the cost of living rises to levels that nearly half the population of the country cannot afford, experts and ...

The value of total Assets Under Management with Cyprus funds reached €8.58 billion in the 4th quarter of 2020, a 10.3 per cent increase from the third quarter of that year. Assets under ...

“There will be no extraordinary meeting of the policy committee at the central bank, nor will any steps be taken to defend the Turkish lira,” the Turkish President’s Chief ...

Italy’s Neosperience has developed a way to detect Covid-19 infections by analysing a person’s speech or cough, the software company announced on Tuesday. Neosperience President Dario Melpignano said ...

One in five of the world’s 2,000 largest publicly listed companies have now committed to a “net-zero” emissions target to help tackle climate change, researchers said on Tuesday. The companies, ...

Top 10 Unicorns in Europe by value 1 – Klarna (Sweden). Valuation: $10.65bn. Sector: fintech 2 – Bolt (Estonia). Valuation: $4.3bn. Sector: transport 3 – Northvolt (Sweden). Valuation: $3.55bn. Sector: energy 4 – Otto Bock (Germany). Valuation: $3.5bn. Sector: ...

Hellenic Bank has named Oliver Gatzke, a German banker with years of experience in both financial restructuring and fintech as CEO. The 52-year old Gatzke is well-known in European banking ...

UK inflation is forecast to jump to 2.5 per cent this year, as energy prices and consumer spending surge. Consumer price inflation, the measure targeted by the BoE, was just 0.7 per ...

Europe is facing a difficult second quarter as coronavirus infections rise and governments reimpose lockdown measures, but the European Central Bank will do its part to keep borrowing costs ultra ...

The European Union plans to label some gas power plants as sustainable investments, a draft document seen by Reuters showed, after an initial proposal to deny them a green label ...

“The recent aggressive price rally seems to have come to an end,” writes analyst Tom Kool at oilprice.com. Oil prices resumed their decline on Monday, falling around 1 per cent ...

The Turkish lira plunged on Sunday night, immediately after the re-opening of major foreign exchange markets, after President Tayyip Erdogan sacked the country’s hawkish central bank governor, replacing him ...

For the first time, a comprehensive effort is underway to make the island a technology hub Cyprus is framing a comprehensive, holistic policy to compete as a technology hub, Invest ...

Turkish President Recep Tayyip Erdogan removed the governor of the country’s central bank late on Friday, just after that official had presided over an interest-rate hik. Naci Agbal had ...

On March 16, details of thousands of companies domiciled on the island will be collected to be entered in a so-called Ultimate Beneficial Owner (UBO) register – according to standards set by ...

Morgan Stanley has become the first big US bank to offer its wealth management clients access to bitcoin funds, CNBC reported on Wednesday. In an internal memo, the bank told ...

By Dr. Charles Ellinas We urgently need a major rethink and change in direction. I have called repeatedly, and have been advocating through my articles in this newspaper, for the ...

The central bank of Turkey on Wednesday raised its key interest rate to 19 per cent from 17 per cent. The lira rose to about 8.75 against the euro from over 9 to the ...