Welcome to Britain, the bank scam capital of the world
It was an email offering a discount on an electric toothbrush that began the sequence of events that ruined Anna’s life.
Within minutes of entering her card details, she ...
Measuring the informal economy: one guesstimate is as good as another
By George M. Georgiou
According to Eurostat’s data browser, Cyprus’ real per capita GDP in 2020 was €23.050, which is about 87 per cent of the EU-27 average. One could be forgiven ...
Turkish lira hits record low, Erdogan overhauls monetary policy committee
Turkey’s President Tayyip Erdogan dismissed three central bank monetary policy committee (MPC) members on Thursday, appointing two new members in their place, the country’s Official Gazette said, sending ...
Binance to halt Chinese yuan trading amid Beijing’s crypto crackdown
Binance will stop the use of the Chinese yuan on its peer-to-peer trading platform, the latest move by major global cryptocurrency exchanges to cut their ties with mainland Chinese investors ...
JPMorgan’s Dimon blasts bitcoin as ‘worthless’, due for regulation
Jamie Dimon, JPMorgan Chase & Co (JPM.N) chief executive, said on Monday at a conference that cryptocurrencies will be regulated by governments and that he personally thinks bitcoin is “...
IMF cuts global growth outlook as supply bottlenecks hobble pandemic recovery
Persistent supply chain disruptions and pricing pressures are constraining the global economy’s recovery from the COVID-19 pandemic, the International Monetary Fund said on Tuesday as it cut growth outlooks ...
IMF revises upwards its forecasts for growth of the Cypriot economy
The International Monetary Fund revised upwards the growth rate of the Cypriot economy, compared to its forecasts for last April.
According to the World Economic Outlook (WEO) published on Tuesday, ...
Why is the Bank of England talking about raising rates?
Under pressure to act as inflation jumps towards double its 2 per cent target, the Bank of England appears to be gearing up to be the first of the world’s ...
One month on, El Salvador’s bitcoin use grows but headaches persist
A growing number of El Salvadorans have experimented with bitcoin since the country became the first to adopt it as legal tender last month, with a couple of million dollars ...
Seven years since FBME Bank shuttered, stricken depositors still in limbo
‘We are told nothing and several people in the UK have taken their own lives because of what is being done to them’
It has been around seven years since ...
Global tax deal seeks to end havens, criticized for ‘no teeth’
A group of 136 countries on Friday set a minimum global tax rate of 15 per cent for big companies and sought to make it harder for them to avoid taxation in ...
Budget to allocate more than €3 billion for staff expenditures
The state budget for 2022 was handed over to parliament on Thursday, with the drastic reduction of the deficit being the key takeaway.
More details about the budget have emerged since ...
Revolving door: Turkey’s last four central bank chiefs
Turkish President Tayyip Erdogan is losing confidence in Sahap Kavcioglu, his latest appointment as central bank governor, and the two have communicated little in recent weeks, three sources familiar with ...
IMF urges governments to make fiscal plans to tame pandemic debt
Governments should start planning a return to more sustainable budgets with policies that win the trust of investors, after unprecedented fiscal stimulus to fight the COVID-19 pandemic, the International Monetary ...
Cyprus Business Now
The Public Debt Management Office has reported that the total amount of public doubt is expected to decrease to €24.1 billion by the end of 2021.
The office added that the government ...
Ireland agrees global tax deal, sacrificing prized low rate
Ireland dropped its opposition to an overhaul of global corporate tax rules on Thursday, agreeing to give up its prized 12.5% tax for large multinationals in a major boost to efforts ...
Britain’s NatWest pleads guilty to money laundering failings
NatWest pleaded guilty on Thursday to failing to prevent the laundering of nearly 400 million pounds ($544 million) and faces a heavy fine after becoming the first bank in Britain to admit ...
Stablecoins to face same safeguards as traditional payments
Stablecoins would have to comply with the same safeguards as their more traditional competitors in payments under proposals from regulators on Wednesday as authorities get to grips with a rapidly ...
Budget to drastically reduce deficit says minister
The 2022 state budget will feature a significant fiscal correction, after two years of high deficits, said finance minister Constantinos Petrides, while handing it to the President of the House of ...
International initiative to protect investing public
The Cyprus Securities and Exchange Commission (CySEC) is participating in World Investor Week, a global campaign seeking to educate and protect investors.
Through its participation in World Investor Week, CySEC ...
Finance ministry seeking extension for state guarantees period
The finance ministry is trying to secure an extension of the period in which banks can provide businesses and the self-employed with state-guaranteed loans, as it expires at the end ...
Cyprus Business Now
Limassol-based GP General Procurement Compan Limited (GenPro), a maritime and commercial procurement company, held its first annual Blue Day Sustainability Seminar in September.
The seminar focused on the company’s ...
Lending criteria remain unchanged in 2nd quarter, demand for loans by households increases
Lending criteria to both businesses and households remained unchanged in the second quarter of 2021, but it is expected that they will become stricter in the third quarter of the year, ...
Cryptocurrencies post inflows for 7 straight weeks, led by bitcoin
Cryptocurrency investment products and funds recorded inflows for a seventh straight week, as institutional investors warmed to more supportive statements from regulators, data from digital asset manager CoinShares showed on ...