Banking and Finance

Finance minister Makis Keravnos expressed satisfaction with the eurozone’s fiscal policy orientation for 2025, as Cyprus’ conservative fiscal approach was already in line with it. He added that the joint ...

Eurozone finance ministers decided to gradually phase out energy support measures in 2024 in favour of fiscal prudence, aimed at reducing government deficits. The gradual abolition of energy support measures was ...

Bitcoin hit a record high on Monday above $71,000, as the surge in the biggest cryptocurrency showed no signs of slowing down. Britain’s financial watchdog on Monday became the latest ...

European stock indexes fell from recent record highs on Monday, and Wall Street looked set for losses, as traders grappled with an uncertain economic outlook and waited for U.S. ...

Cyprus saw a significant reduction in its trade deficit, which stood at €566.5 million in January 2024, according to the Cyprus Statistics Service Cystat. This was a marked decline compared to €1.419.9m ...

Here are the top business stories in Cyprus from the week starting March 4: Recently, consulting and advisory firm PwC Cyprus hosted a significant event to present its annual report on ...

European Central Bank policymakers on Friday lined up in support of an interest rate cut in the coming months as inflation in the eurozone falls faster than they had anticipated. ...

Eurobank Cyprus on Friday released its financial results for the year 2023, posting an after-tax profit of €199.4 million, reflecting a significant increase of 111 per cent over the previous year. In addition, ...

The European Central Bank kept borrowing costs at record highs on Thursday but took a first, small step towards lowering them, saying inflation was easing faster than it anticipated only ...

Once hurt by crises and deflation, the euro is gaining popularity among central bank reserve managers thanks to a return to positive rates and geopolitics challenging king dollar’s appeal. ...

Decisions on 60 per cent of corporate loans issued by Russia’s top lender Sberbank (SBER.MM) will be made using artificial intelligence (AI) by the end of this year, CEO ...

Britain’s government needs to do a better job of monitoring risks posed by its sales of bonds which have surged after a string of shocks to the economy, a ...

The year 2023 marked the highest annual inflows since the establishment of the state-owned asset management company Kedipes in 2018, according to statements made on Tuesday by chairman Lambros Papadopoulos. As of ...

The Central Bank of Cyprus (CBC) this week issued a new directive regarding the operation of the central registry of information for issuers of bounced cheques, aiming to refine existing ...

Cyprus saw a substantial 47 per cent increase in the issuance of new loans during the first month of the year, according to a report released this week by the Central ...

The European Central Bank meets on Thursday, with markets eyeing any nudge towards an interest rate cut as inflation weakens. The ECB, expected to hold rates at a record 4 per ...

Spain’s Banco Santander SA (SAN.MC) has cut roughly 320 jobs in the US as it seeks to focus more on digital operations, Bloomberg News reported on Sunday citing a ...

The Central Bank of Cyprus (CBC) on Monday released a report revealing a decline in deposit interest rates in January 2024, alongside a mixed picture in interest rates for key loan ...

Imagine yourself in a financial bind, needing quick cash to cover an unexpected expense. This scenario, all too common, leaves many people considering an option typically considered as a last ...

Chair of the Single Resolution Board Dominique Laboureix has commended Cypriot banks for their progress in aligning with the Minimum Requirements for Own Funds and Eligible Liabilities (MREL). It should ...

Here are the top business stories in Cyprus from the week starting February 26: The Cyprus Marine Club (CMC), a renowned non-profit organisation that plays a pivotal role in bringing together ...

The Central Bank of Cyprus (CBC) and the Bank of Greece (BoG) on Friday signed a Memorandum of Cooperation during a ceremony held in Nicosia. The signing ceremony took place ...

In a marathon session that extended into the early hours of Friday, the House unanimously approved the budget of the Cyprus Stock Exchange (CSE) for 2024. At the same time, the ...

The Central Bank of Cyprus (CBC) and the Bank of Greece are set to sign a Memorandum of Cooperation, formalising collaboration in specific areas such as resilience exercises, as well ...