Cyprus Business Now
CyprusInno has launched a new coworking space called The Base in Nicosia’s Ledra Palace buffer zone.
The centre will not be limited to coworking elements as it wil also ...
Lebanon to sign contract for central bank forensic audit in days
Lebanon’s outgoing finance minister Ghazi Wazni said on Tuesday a contract for a forensic audit of the central bank would be signed in a few days by the new ...
CySEC issues missive on crypto assets
The Cyprus Securities and Exchange Commission (CySEC) has released a policy statement on cryptocurrency assets, calling on service providers to comply with regulations and warning investors of the risks involved.
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Banks expect London to remain a top financial centre, says survey
London will remain a leading global financial centre despite uncertainty over regulation due to Brexit, Lloyds Bank’s annual sentiment survey of financial firms showed on Monday.
Britain fully left ...
CIFA welcomes Assets under Management increase
The total value of Assets under Management (AuM) of Collective Investments reached a record €10.7 billion in the first half of 2021, data from the Cyprus Securities and Exchange Commission showed on ...
US Treasury, financial industry discuss cryptocurrency ‘stablecoins’
The US Treasury Department met with a number of industry participants this week to quiz them about the risks and benefits posed by stablecoins — a rapidly growing type of cryptocurrencies, ...
Hot cryptocurrency investments: Cardano’s ada hits new highs, now third-largest virtual currency
On September 2, Cardano’s ada token broke through $3 for the first time after it was announced that the network had completed a smart contracts upgrade.
It has fallen back to $2.61 ...
Banks struggle to balance deposits
The role of negative interest rates – becoming an ever more prevalent reality – in reviving hard hit economies
Deposits in Cyprus banks recorded an increase for the fifth consecutive month in ...
Outgoing CySEC chief says everything shipshape for successor
By Costas Stavrinos
Outgoing Chairwoman of the Cyprus Securities and Exchange Commission (CySEC) Demetra Kalogirou said that her successor should not forget the Commission’s vision to establish the safest ...
Turkish central banker warns of interest rate cuts; lira slips to 10 to euro again
With Turkish inflation close to 20 per cent, with 27 per cent of the population unable to afford necessities, the central bank has warned that it is planning to reduce interest rates.
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Commodities price rises to continue in ‘Supercycle’ – Economists
Commodities prices, already high across the globe, are likely to continue to rise, as we are in a “Supercycle,” according to a report by Platts at S&P.
“What ...
Coronavirus pandemic not managed to hold back banking sector
Despite the ongoing Covid pandemic, the Cypriot banking sector has achieved remarkable progress and was steadily headed towards viability, Finance Minister Constantinos Petrides said on Wednesday addressing the bank association ...
Cyprus Business Now
The Cyprus Statistical Service has released a report showing that the first six months of the year saw a total of 3,990 building permits being issued by the relevant municipal authorities, ...
European banks have billions in tax havens, Cyprus absent from haven list
Major European banks have placed €20 billion, around 14 per cent of their overall profits and a figure which has remained unaltered since 2014, in countries listed as tax havens, a study by ...
EU launches green bonds to finance Recovery Plan
The European Commission on Tuesday announced the adoption of its new Green Bond framework, taking a step towards issuing €250 billion (about $298 billion) in green bonds, equivalent to 30 per cent of ...
CBC, stakeholders agree on ten steps to speed up banking procedures
The Central Bank of Cyprus (CBC), professional regulatory bodies and business stakeholders have agreed on ten steps to rationalise banking procedures.
These include Know-Your Client (KyC) and client due diligence, ...
London takes aim at New York with five-year financial plan
Britain needs to ease taxes on banks and make it easier to hire staff from abroad, its financial and professional services lobby said in a blueprint to help London unseat ...
Bitcoin comes to El Salvador on Tuesday; what will it mean?
El Salvador will on Tuesday become the first country in the world to recognize bitcoin as legal tender, a move President Nayib Bukele says will save Salvadorans living abroad millions ...
Worldwide IT Spend moves to the ‘next normal’ — Analyst
The rebound phase for companies emerging from the pandemic is over, says the Gartner Group. Most companies are now preparing to reach the ‘next normal’ — exiting phase three of the ...
Cyprus Business Now
Cyprus Shipping Deputy Minister Vassilios Demetriades met with his Egyptian counterpart Transport Minister Kamel al-Wazir on Saturday, September 4, as part of the wider intergovernmental conference between the two governments.
The ...
Saudi Arabia slashes oil prices to Asia; US, Europe prices steady
Saudi Arabia, the world’s top oil exporter, slashed prices of all crude grades to Asian customers in October versus September, but left prices to northwestern Europe and the United ...
Bitcoin rises above $51,000; ether at $3,932
Bitcoin rose 0.49 per cent to $50,188.4 at 1004 GMT on Sunday, adding $245.24 to its previous close.
The world’s biggest and best-known cryptocurrency is up 81 per cent from this year’s low ...
Afghanistan: Kabul main money exchange reopens; long lines form outside
The main money exchange market in Kabul, capital of Afghanistan, reopened on Saturday (September. 4), 10 days after Taliban takeover, as a banking crisis still exists in the Asian country, a local ...
US economy takes step back as Delta variant bites
The US economy created the fewest jobs in seven months in August as hiring in the leisure and hospitality sector stalled amid a resurgence in Covid-19 infections, which weighed on ...