Banking and Finance

Cypriot lender AstroBank on Wednesday announced that it is freezing the base interest rate for first-time homebuyers for all eligible borrowers. “AstroBank is moving forward with a programme to reward ...

Total new loans in Cyprus decreased to €473.9 million in April 2023, compared to €922.5 million in the previous month, according to a report released on Tuesday to the Central Bank of Cyprus (...

Meeting customers’ needs, Hellenic Bank rises to the challenge by modernising banking services Thanks to user-friendly Online Banking, customers get free and instant access and can manage accounts – hassle-free, securely, ...

The economy of Cyprus is expected to experience a slowdown, with growth projected to reach approximately 2.5 per cent in 2023, according to a report released on Tuesday by the International Monetary ...

UBS (UBSG.S) expects to complete its takeover of Credit Suisse (CSGN.S) “as early as June 12”, which will create a giant Swiss bank with a balance sheet of $1.6 trillion ...

In recent years, most banks have gone through some form of Digital Transformation. Bank of Cyprus has been a leader in providing innovative digital services to its customers “As technological ...

Investors who earned easy money with high-risk bonds invented after the financial crisis are being forced to accept that the rules have changed: they may not get paid. Banks typically ...

The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for financial institutions when dealing with virtual assets, such as cryptocurrencies and non-fungible tokens, it said on ...

Here are the top business stories in Cyprus from the week starting May 29: A new plan is expected in the coming days to protect the primary home of people belonging ...

Deputy Minister of Tourism Kostas Koumis this week announced that the Cabinet of Ministers has decided to establish a new tourism promotion agency, with the goal of boosting Cyprus’ tourism ...

Cyprus is the leading beneficiary of European Investment Bank (EIB) support per capita with €250 million in funds received during 2022, EIB president Werner Hoyer said during a visit on Friday. Hoyer ...

A new plan is expected in the coming days to protect the primary home of people belonging to vulnerable groups, the government said on Friday. The plan will come to ...

Russian state-owned lender VTB (VTBR.MM) on Friday set the price for its secondary public offering (SPO) at 0.018225 roubles per share, implying a maximum capital raising of 196.5 billion roubles ($2.43 billion). ...

Cyprus’ general government generated a surplus of €291.9 million in the first quarter of 2023, equivalent to 1 per cent of GDP, according to a report released this week by the Cyprus Statistical ...

Large US companies have been on a bond issuance binge but this rapid pace in supply may be hard to sustain ahead of expected volatility related to extending the US ...

CFA Society Cyprus and Central Bank Governor Constantinos Herodotou placed the issue of financial literacy at the centre of their discussion during a meeting held on Wednesday. According to a ...

Hundreds of Credit Suisse (CSGN.S)’s employees are resigning each week in a sign of uncertainty gripping the lender while it is being taken over by rival UBS (UBSG....

The euro zone’s top banks may take a hit if their financial clients, such as funds, insurers and clearing houses, withdrew their deposits or otherwise ran into trouble, the ...

The Central Bank of Cyprus (CBC) on Tuesday reported that total deposits in April 2023 recorded a net decrease of €173.3 million, compared to a net increase of €59.8 million in March 2023. The ...

Syprodat said that borrowers are willing to renegotiate their loans but are finding it difficult The Association for the Protection of Borrowers (Syprodat) this week said that the key to ...

Having navigated the financial crisis of 2008, Neel Kashkari worries about systemic risks. But now, as a US monetary policymaker, he worries even more about inflation. “I think if I had ...

Turkey’s lira wobbled near record lows against the dollar as President Tayyip Erdogan secured victory in the country’s presidential election on Sunday, extending his increasingly authoritarian rule into ...

By Maria Demertzis In its spring 2023 inflation forecasts, issued on May 15, the European Commission predicted that euro-area inflation this year will be 5.8 per cent, a little higher than anticipated in ...

Here are the top business stories in Cyprus from the week starting May 22: Talks between the government and US energy giant Chevron appeared to move in a positive direction on ...