Banking and Finance

AstroBank announced on Tuesday that, following a statement issued on September 11, 2023, regarding the potential acquisition of the Cyprus Development Bank (CDB), the two entities have failed to reach a mutual ...

The European Council recently announced changes to the EU list of non-cooperative countries for tax purposes, with several nations being removed and added to the list. These updates will have ...

The total value of non-performing loans (NPLs) in the Cypriot banking system at the end of August 2023 saw a decrease of €16 million, dropping to €2.08 billion from €2.10 billion at the end ...

The Consumers Association on Monday has issued a statement warning the public about the new increased bank charges expected to be implemented from early 2024. In the statement, the president of ...

By Louis N. Christofides Workers’ earnings in a firm reflect the contribution of labour to the firm’s output, meaning their productivity. Earnings are expressed in nominal terms (e.g., ...

New loans in Cyprus reached €578 million in September 2023, indicating a €52.3 million increase compared to the previous month when they stood at €525.7 million, according to a report released this week by ...

International credit rating agency Fitch Ratings upgraded Hellenic Bank’s long-term credit rating from “BB-“ to “BB+” on Friday. At the same time, the agency also set the bank’s ...

Hellenic Bank employees on Friday announced a three-hour work stoppage slated to take place on Monday. According to the announcement by bank employees’ union (Etyk), the strike will happen from 3...

The President of the European Investment Bank, Werner Hoyer, is set to make an official visit to Cyprus on Monday. Hoyer will be joined on the island by the newly ...

The pound rose on Thursday after the Bank of England held interest rates at a 15-year high but stressed that it did not intend to cut them any time soon. ...

Hellenic Bank on Wednesday released a statement underlining that it is spearheading the green transition with innovative, specialised products, something which was further stressed during a recent energy conference. The 11...

Household debt in Cyprus has fallen to 69 per cent of the Gross Domestic Product (GDP), according to a report released on Tuesday by the Central Bank of Cyprus (CBC), for ...

The Bank of England is expected to keep interest rates at their 15-year high on Thursday as it battles an inflation rate that is more than three times as high ...

The European Central Bank (ECB) kept interest rates unchanged last week, breaking a remarkable trend of ten successive rate hikes. The ECB remained resolute in its stance that the increasing ...

HSBC (HSBA.L) announced on Monday a fresh $3 billion share buyback, and a more than doubling of third-quarter profit that nonetheless disappointed as upward pressure on wages and technology spending ...

By Maria Demertzis The EU will need 600 billion additional net investments every year from now to 2050 to meet its climate objectives. It also needs strategic investments to digitalise its economies, ...

The Central Bank of Cyprus (CBC) on Friday announced that it has set the reference interest rate for the October-December 2023 quarter at 11.52 per cent. This decision comes in accordance with ...

Hellenic Bank employees announced on Friday they are to stage a three-hour walkout on November 6. The move was announced by employees’ union Etyk, which condemned the “provocative behaviour” of the ...

Lending criteria for both businesses and households in Cyprus remained tight during the second quarter of 2023, reflecting the cautious approach adopted by Cypriot banks, according to a report released this ...

The 36th annual conference of the International Investment Funds Association (IIFA), hosted in Cyprus from October 23 to 25, 2023, has concluded successfully, the Cyprus Investment Funds Association (CIFA) said on Thursday, noting ...

Cyprus has recorded a fiscal surplus of €676.3 million, representing 2.4 per cent of the Gross Domestic Product (GDP) for the year 2022, according to an announcement by the Cyprus Statistical Service. Additionally, ...

The total value of deposits in Cyprus witnessed a substantial increase of €87.7 million in September 2023, marking a recovery after two consecutive months of decline, according to a report released by ...

The Central Bank of Cyprus on Wednesday announced that Gabriel Makhlouf, the governor of the Central Bank of Ireland, concluded his visit to Cyprus, after an invitation had been extended ...

The Bank of England looks set to keep interest rates on hold next week but also stress that it is far from relaxing its fight against Britain’s high inflation ...