Turkish lira caps historic week with big lift from Erdogan government
Turkey’s lira was on track for its strongest week on record on Friday, having spiked 44 per cent with the support of billions of dollars...
Banking and Finance
European shares end at near one-week highs, boosted by tech stocks
European shares ended on Wednesday at near one-week highs, led by gains in technology and industrial stocks, even as investors worried about the outlook for...
Turkey economy grew 7.4 per cent in Q3; lira clouds outlook
Turkey’s economy grew 7.4 per cent year-on-year in the third quarter, meeting expectations on the strength of retail demand, manufacturing and exports, official data showed...
Cypriot economists speak on inflation
The burning issue of inflation was the subject of an online event held last Wednesday by the Cyprus Association of Economists (EOK) titled ‘Price Rises:...
NatWest pleads guilty to US fraud charges, to pay $35 mln
A unit of NatWest Group (NWG.L) on Tuesday agreed to pay about $35 million and pleaded guilty to wire and securities fraud in relation to...
Turkish lira whiplashes after Erdogan moves to protect savings
Turkey’s lira rocketed back from record lows in volatile trading on Tuesday after Turkish President Tayyip Erdogan proposed measures to protect local currency savings against...
UK borrowing falls by almost 50 per cent as pandemic spending eases
British public borrowing nearly halved in the first eight months of the 2021/22 financial year compared with a year earlier when finance minister Rishi Sunak...
Cyprus investment fund sector booms during pandemic
The Cyprus Investment Funds Association (CIFA) announced on Monday that the investment fund sector enjoyed significant growth during 2021, with the total amount of Assets...
Turkish lira charges back after Erdogan’s anti-dollarization plan
Turkey’s lira gained more steam and was up 7% on Tuesday following a historic 25% recovery from record lows, after President Tayyip Erdogan , Turkish...
‘Tis the season for behavioural economics
By Melina Moleskis What is behavioural economics in a nutshell? Behavioural economics is about observing and understanding human decisions up close without prior assumptions. Its...
London banking job exodus to EU slows despite Brexit
The number of finance jobs shifting from Britain to the European Union due to Brexit is less than initially expected despite billions of euros in...
Economic activity continues to recover, while uncertainty remains according to the CCLEI Index
The Cyprus Composite Leading Economic Index (CCLEI) recorded a year-over-year increase of 14.0 per cent in November 2021, reaching a level of 112.7, after year-over-year...
Barclays gets Australian banking licence in expansion push
UK-based Barclays Plc (BARC.L) said on Monday it had received approval from Australia’s prudential regulator to operate as a foreign bank in the country, as...
Stablecoins steal the limelight from subdued bitcoin
As bitcoin, the world’s largest cryptocurrency, struggles to recover after a massive crash, regulatory and private sector focus has turned to another part of the...
Cyprus Business Now
The Bank of Cyprus announced on Friday that it has concluded its small-scale, targeted, voluntary staff exit plan. Following the completion of the plan, 100...
Lebanon’s central bank offers dollars amid deep financial crisis
Lebanon’s central bank said on Thursday it would sell US dollars to commercial banks at the rate on its Sayrafa foreign exchange platform, but analysts...
Cyprus Business Now
The Association of Cyprus Banks on Thursday took part in an online seminar examining the progress achieved in the Cypriot banking system, as well as...
BoE becomes first major central bank to raise rates since pandemic
The Bank of England on Thursday became the world’s first major central bank to raise interest rates since the coronavirus pandemic hammered the global economy,...
Fitch Ratings upgrades Hellenic Bank outlook to positive
Credit rating agency Fitch Ratings reported on Wednesday that it has revised Hellenic Bank’s outlook to positive from negative, while also affirming the bank’s Long-Term...
Bank of Cyprus outlook revised to positive by Fitch Ratings
American credit rating agency Fitch Ratings announced on Wednesday that it has revised the Bank of Cyprus’ outlook to positive from negative, while at the...
