Turkey’s state banks need help to cover NPLs
Turkey is considering a fresh capital injection for state banks but they also need a plan to deal with lingering bad debt after the lenders depleted their resources helping Ankara’...
Cyprus ICT industry grows right through the pandemic – Cyprus Computer Society
The Cyprus Information and Communications Technology (ICT) industry is well and prospering; this became clear at the the Cyprus Computer Society Annual Meeting late on Wednesday.
For the Cyprus ICT ...
EU to crack down on cryptocurrencies
The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of crypto-assets, EU documents showed on Wednesday as the bloc ...
Cyprus needs a tax system transformation — Accountants Institute
“The global tax scene is changing: international tax developments include areas such as multinational corporations, green growth and the environment, the fight against aggressive tax planning, as well as technology ...
German finance minister says global tax reform “will happen very quickly”
German Finance Minister Olaf Scholz said on Wednesday he does not expect hurdles to moving ahead with a planned global tax reform at a G20 meeting in Venice this weekend.
“...
EU Commission forecasts sharply higher Cyprus growth in 2021
The European Commission has raised its forecast for Cyprus’ economic growth in 2021 to 4.3 per cent from 3..8 per cent in its previous forecast.
This brings Cyprus closer into line with the ...
Tourism Minister: Cyprus tourism is seeing comprehensive upgrade thanks to investment
“Investment in Cyprus tourism will be socially immersive – this means that it will benefit the whole island,” Cyprus Deputy Minister for Tourism Savas Perdios told the Invest Cyprus Tourism and ...
Shipping not subject to minimum corporate tax — Lloyds List
SHIPPING has been left out of the Organisation for Economic Co-operation and Development proposals for a global minimum corporation tax rate of no less than 15 per cent, Lloyds List reported ...
OPEC+ deal leads to Saudi Arabia-UAE conflict
Saudi Arabia’s energy minister pushed back on Sunday against opposition by fellow Gulf producer the United Arab Emirates to a proposed OPEC+ deal and called for “compromise and rationality” ...
Show me the money! In Europe, it’s in Germany, France and Russia
The latest buzzword in wealth management these days is ‘decoupling,’ because most of us in the normal world are still dealing with the effects of the pandemic crisis.
But the ...
Dollar up for now, but expected to slide against euro — analysts
Near-term bets in favour of the dollar should be increased, a majority of analysts in Reuters polls said, who however were split on the duration of the greenback’s bullish ...
World Wide Web origin NFT sells for $5.4mn at Sotheby’s
A blockchain-based token representing the original source code for the World Wide Web written by its inventor Tim Berners-Lee sold for $5.4 million at Sotheby’s in an online auction on ...
Post-Brexit UK businesses struggle to trade with EU – Study
Almost a third of businesses that trade with the EU have suffered a decline or loss of business since new barriers to trade were introduced on January 1, according to a ...
UK to win exemption for financial services from minimum tax
Britain is set to secure an exemption for financial services from a new global tax system which was agreed by the Group of Seven economies to squeeze more money out ...
Banks still have essential role to play — Economist – Cyprus Economic Society
Do we still need banks? What role do they play in our society today?
The role of banks today has not changed, despite the many changes we have gone through, ...
Europe needs digital euro says French central bank governor
Europe’s sovereign control over its money is at risk if it does not push ahead with plans for a digital euro and a European payments system, France’s central ...
Egyptian billionaire Onsi Sawiris dies
Onsi Sawiris, the patriarch of a family of billionaire businessmen who launched a group of multinational companies under the Orascom umbrella, died on Tuesday at the age of 90, chairman of ...
Post-Brexit banks demand sharply higher fees for UK payments
Companies making payments from the UK to the EU are seeing sharply higher fees that add up quickly, a report in Finance Monthly shows.
Some European companies are also faced ...
Teenage entrepreneur creates innovative new companies in Cyprus
Arian Adeli started his first company when he was sixteen. The company has been successful, and so Arian has written a book to go with it. Since then, he and ...
HSBC humbled by China
On a rainy day last November, China Baowu Steel Group, the world’s largest steel maker, gathered its finance department for a training session on the outskirts of Shanghai. One ...
Cyprus must reduce the burden of debt with foreign immigration
By Pavlos Loizou, Managing Director, WiRE FS
It is a paradox that currently only a handful of people in Cyprus are still concerned with the matter of NPLs. Maybe they ...
ECB member: bank should retain emergency stimulus flexibility
The European Central Bank should retain the exceptional flexibility of its emergency bond buys after the current crisis, ECB board member Fabio Panetta said on Monday, setting the stage for ...
Frankfurt banker headcount to drop despite Brexit boost
Banking jobs in the German financial capital of Frankfurt are on the decline despite a boost from Brexit, according to a study by German lender Helaba.
Headcount at the city’...
Macron starts post-Brexit push to attract international finance
President Emmanuel Macron will declare that Paris is back on the map of global finance on Tuesday when he inaugurates JPMorgan’s new trading hub in the French capital which ...