Cyprus Business Now
The Bank of Cyprus on Friday announced that it is now offering a 25-year fixed interest rate for its mortgage customers.
According to the statement, this new option aims to ...
Russian Central Bank’s immobilised assets: what happens next?
By Maria Demertzis
It is now 14 months since the Russian invasion of Ukraine and based on the Kiel Institute Ukraine support tracker, EU countries have so far provided close to €62 ...
Audit finds holes in ECB’s management of bank credit risk
European Central Bank supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performers, the European Court of Auditors (ECA) ...
‘Cypriot businesses can turn to collective funds for alternative financing’
In times of crisis, identifying and taking advantage of opportunities is crucial for economic growth, the president of the Cyprus Investment Funds Association (CIFA), Andreas Yiasemides, said on Thursday.
Yiasemides ...
Herodotou optimistic about Cypriot economy
The governor of the Central Bank of Cyprus, Constantinos Herodotou, expressed optimism that with appropriate actions, prudence, and rationality, the country’s economy and banking system can successfully manage the ...
Sanctions on Cypriot firms leave employees without pay
The employees of two Cypriot firms which were recently sanctioned by the UK, on Thursday sent an open letter decrying the effects that the freezing of these companies’ accounts has ...
US credit crunch didn’t start with SVB collapse, and may not end there
It wasn’t the March 10 collapse of Silicon Valley Bank that prompted Carissa Rodeheaver, head of a community bank tucked in the mountains of western Maryland, to rethink strategy.
That ...
Cyprus Business Now
PwC Cyprus on Wednesday announced that it once again recognised the excellence of its trainee accountants, rewarding their significant distinctions in international exams by the Association of Chartered Certified Accountants (...
PayPal tumbles 12 per cent, eyes lowest close since 2017
PayPal Holdings’ (PYPL.O) stock slumped 12 per cent on Tuesday, on track for its lowest close in almost six years, after the payments company cut the outlook for its annual ...
Hellenic Bank outlines vision for holistic transformation
Hellenic Bank on Wednesday released a statement summarising its presence at the annual Nicosia Economic Congress, which took place the day before, including its strategy and plans for the future.
...
UK finance bosses press to revive London’s allure
Some of Britain’s top finance executives, fearful London is losing out to New York and rival European cities, are pressing the government to broaden an array of reforms aimed ...
Cyprus Business Now
Alpha Bank Cyprus on Tuesday announced a new deposit interest rate for private accounts over €50,000 that reaches up to 2.10 per cent.
In their official announcement, the bank stated that private ...
Cypriot banking sector resilient but must avoid complacency
Central Bank of Cyprus governor Constantinos Herodotou on Tuesday addressed the annual Nicosia Economic Congress, providing analysis and commentary on the country’s economy, both for the previous year, as ...
Interest rates for house loans increase in March 2023
Interest rates for housing loans increased by 1.25 per cent in March 2023, compared to February 2023, according to the most recent data published by the Central Bank of Cyprus (CBC).
The rise ...
Loan restructures lift new lending to €922.5 million in March 2023
New loans in Cyprus increased in March 2023, reaching a total of €922.5 million, up from €527.5 million in the previous month, according to data released by the Central Bank of Cyprus (CBC).
...
Dollar under pressure as traders wait on loans data
The dollar began the week under pressure on Monday, with traders betting it might have peaked along with US interest rates, and selling it against peers that seem to have ...
The global outlook and financial risks in a medium-term horizon
The International Monetary Fund, in its Spring World Economic Outlook, released last month, provides an assessment of the global economy over the medium term, revised forecasts, and discusses underlying risks ...
Berkshire posts $35.5 billion profit, sells over $13 billion in stocks
Warren Buffett’s Berkshire Hathaway Inc BRKa.N posted a $35.5 billion first-quarter profit on Saturday, reflecting gains from stocks such as Apple Inc, while higher investment income and a rebound ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting May 1:
Credit rating agency DBRS Morningstar has acknowledged that the Cyprus government announced that it aims to achieve ...
ECB policymakers promise more hikes to beat inflation
The European Central Bank will continue raising interest rates until inflation is under control, two ECB policymakers said on Friday as surveys showed the fight against rising prices was far ...
Turkish central bank sticks to inflation forecast of 22.3 per cent for 2023
Turkey’s central bank is sticking to its inflation forecast of 22.3 per cent for 2023, Governor Sahap Kavcioglu said on Thursday – less than half of market expectations – even though the decline ...
ECB raises rates by 25 bps in inflation fight
The European Central Bank raised interest rates by 25 basis points to 3.25 per cent as expected on Thursday and said it would stop reinvesting cash from maturing debt in its 3.2 trillion ...
Europeans drain billions from banks, fed up with shrinking savings
European savers are pulling more of their money from banks, looking for a better deal as lenders resist paying up to hold on to deposits some feel they can currently ...
Fed raises rates to the highest level in 16 years
The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase with what may be the last in a historic series of interest rate hikes and ...