Banking and Finance

Cyprus’ trade deficit for 2022 amounted to €7.1 billion, according to a report released this week by the Cyprus Statistical Service (Cystat). The report revealed that the main trading partner for Cyprus ...

Barclays reported better than expected first-quarter profit on Thursday after a strong performance from its credit card business offset pressure on other business lines. The British bank’s pretax profit ...

Deutsche Bank (DBKGn.DE) reported a better-than-expected 9 per cent rise in first-quarter profit on Thursday as income from higher interest rates offset a slump in revenues at the investment bank, ...

The state’s Public Debt Management Office this week explained that the interest rate risk for the debt of the Republic of Cyprus remains subdued, despite the ongoing increase in ...

International credit rating agency S&P Global Ratings (S&P) on Wednesday upgraded the Bank of Cyprus and revised its outlook from stable to positive, citing the bank’...

First Republic Bank (FRC.N) faces dwindling and tough options to turn around its business with the creation of a ‘bad bank’ or asset sales possibilities, a source familiar with ...

Turkish central bank total gross reserves are expected to have fallen more than $5 billion to about $116 billion last week due to rising foreign currency demand as the May elections approach, ...

The general secretary of the labour union PEO Sotiroula Charalambous this week announced that the union will meet with the Labour Minister on Friday to have a discussion over the ...

First-quarter job opportunities in London’s financial sector plunged by almost a third year-on-year, recruiter Morgan McKinley said on Tuesday, as firms struggle with economic and geopolitical headwinds. The collapse ...

The world’s top central banks are cutting the frequency of their dollar liquidity operations with the US Federal Reserve from May, sending the clearest signal yet that last month’...

First Republic Bank (FRC.N) shares sank more than 20 per cent after the closing bell on Monday as it said deposits plunged by more than $100 billion in the first quarter ...

The University of Cyprus on Monday announced the launch of a new postgraduate programme in behavioural economics, which is designed to prepare students for career options requiring analysis of human ...

Switzerland’s UBS said on Monday it will retain Christian Bluhm as chief risk officer for the “foreseeable future” as it bolsters controls during the takeover of Credit Suisse. Chief ...

A quick scan of the world’s top 10 companies by market cap or most billionaires quickly reveals that the U.S. leads Europe. Undeniably, the two continents have contrasting cultures ...

Credit Suisse (CSGN.S) said on Monday it had 61 billion Swiss francs ($68 billion) in net asset outflows in the first quarter, adding that outflows were continuing even in the wake ...

By Pierre Jaillet Inflation has been elevated in 2021-22 in Europe and elsewhere, driven by higher energy and food prices, from exogenous influences, but also driven by mark ups on ...

Dubai Police this week announced a new diploma programme on financial investigations for digital assets, which was developed in partnership with the University of Nicosia’s Institute for the Future (...

Cyprus recorded a fiscal surplus of €570.2 million, a share of 2.1 per cent of GDP, for the year 2022, according to a report released on Friday by the Cyprus Statistical Service (Cystat). ...

Banks have yet to react to an appeal from Finance Minister Makis Keravnos not to raise their interest rates on performing loans, forcing the minister to publicise his communications with ...

More than 4,000 accounts held by Russians in Cypriot banks could be closed over the next two months following the imposition of sanctions on a number of individuals in Cyprus, by ...

President of the Cyprus Bar Association Christos Clerides on Thursday said that the closing of bank accounts was strictly governed by the individual contract that a person has with a ...

Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the US last month, creating a risk their business will become concentrated ...

US real estate stocks are struggling this year after a rough 2022, as fears that banks will tighten lending standards pile pressure on a sector already hit by higher interest rates. ...

The first phase of a scheme to transition hotel businesses to a circular economic model has begun in Cyprus, aimed at strengthening their competitiveness and resilience through sustainable practices. The ...