Spurs owner Lewis surrenders on US insider trading charges
British billionaire Joe Lewis has surrendered to U.S. authorities in Manhattan and is expected to appear in court later on Wednesday to face insider trading charges, a spokesperson for ...
Deutsche Bank flags cost cuts as investment bank slump lowers profit
Deutsche Bank (DBKGn.DE) on Wednesday posted a 27 per cent fall in second-quarter profit as investment banking revenue slumped and warned of the need for cost cuts even though higher ...
CySEC imposes massive €400K fine on Cyprus firm
The Cyprus Securities and Exchange Commission (CySEC) this week announced a decision to impose a massive fine of €400,000 on the Cyprus investment firm Goldenburg Group Ltd.
The commission explained that ...
Cyprus government bonds average yield of 3.64 per cent
The Republic of Cyprus’ government bond yields have recently shown signs of stabilisation, with the average weighted yield of July bonds reaching 3.64 per cent, compared to 3.61 per cent in the ...
Bank workers union claims victory over travel expenses
Bank employees union Etyk on Tuesday said that after an arbitration process through the ministry of labour it has ensured that Bank of Cyprus staff are reimbursed the full travel ...
CFA Society Cyprus announces new board of directors
After a successful annual general meeting held on July 17, 2023, the CFA Society Cyprus has introduced its newly elected board of directors for the term 2023-2024, led by the newly appointed ...
Turkish central bank details policy simplification measures
The Turkish Central Bank said on Tuesday it had set the monthly growth limit for lira commercial loans at 2.5 per cent, down from a previous 3 per cent, excluding export, investment ...
Hike and then?: Five questions for the ECB
The European Central Bank looks set to pull the rate-hike trigger on Thursday, but what it will do after July is less certain and financial markets are craving some guidance.
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Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting July 17:
Tourist arrivals in Cyprus experienced a significant increase of 22.7 per cent in June 2023 compared to the same ...
Fintech releases new features for investors in Cyprus
Plum, the smart money app whose Cypriot office is located in Nicosia, on Friday, announced that it is revolutionising the stock investment experience for customers in Cyprus with the introduction ...
ECB survey reveals pandemic impact on household finance
The ECB this week released the latest version of its Household Finance and Consumption Survey (HFCS) report, providing insight into the financial state of households in Cyprus and the Eurozone, ...
Cyprus Business Now
Euromoney, one of the leading international magazines focused on banking, finance and financial markets, has named the Bank of Cyprus as the ‘Best Bank in Cyprus’ in its 2023 Awards for ...
Cyprus economy on positive trajectory, says Finance Minister
Cypriot Finance Minister Makis Keravnos on Wednesday stated that the economy is on a solid path, with the government closely monitoring developments to ensure its sustained progress in the coming ...
Cyprus and Oman sign double tax treaty
The Cabinet gave its approval on Wednesday to an agreement aimed at preventing double taxation and tackling tax evasion related to income taxes.
The agreement, along with its corresponding protocol, ...
Cyprus non-performing loans drop to €2.19 billion in April
The total amount of Non-Performing Loans (NPLs) in the Cypriot banking system reached €2.19 billion in April, with the NPL ratio against total loans remaining unchanged at 9 per cent.
According to ...
Cyprus Business Now
The Bank of Cyprus is issuing a new high-priority bond worth €300 million, capitalising on the positive momentum following the issuance of Additional Tier 1 capital in mid-June, according to a report ...
Fitch Ratings: Positive outlook for Cypriot banks in second half of 2023
Fitch Ratings on Monday released a new report stating that the stable quality of Cypriot banks’ assets in the second half of 2023 will be supported by positive prospects for the ...
UBS investors warm to Credit Suisse deal
UBS’s (UBSG.S) emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS investors ...
PwC Cyprus showcases investment opportunities at NY summit
New York City played host to the Economist’s annual Eastern Mediterranean Business Summit on July 10, with PwC Cyprus serving as the platinum sponsor, according to an announcement released by ...
For markets, BoE communication is bottom of the class
As markets navigate a likely end to the steepest interest rate rises in decades, investors say the Bank of England has been less consistent in its messaging than other major ...
CySEC reaches €100K settlement with broker accused of market abuse
The Cyprus Securities and Exchange Commission (CySEC) on Friday announced that it has reached a settlement with a licensed broker for market abuse violations.
The commission explained that it has ...
Tumbling US dollar a boon to risk assets across the globe
Cooling US inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit.
The dollar is down nearly 13 per cent against a basket of ...
Cyprus Business Now
During his speech at The Economist business conference on the Eastern Mediterranean held in New York this week, Constantinos Herodotou, the Governor of the Central Bank of Cyprus (CBC), emphasised ...
How the property crash unravelled Sweden’s SBB
For hundreds of thousands of ordinary Swedes, investing in one of their country’s biggest landlords SBB (SBBb.ST) was a sure bet for years. Now it is at the ...