Banking and Finance

By George M. Georgiou In 2021 the World Bank became embroiled in a scandal involving its flagship publication Doing Business. An independent investigation by the law firm WilmerHale, published in September 2021, ...

Here are the top business stories in Cyprus from the week starting April 24: Cyprus’ shipping industry will continue to improve, according to the country’s Deputy Minister of Shipping, as ...

Exante, a global investment company with a presence in Cyprus, this week held an event in Limassol which sought to provide insights on current economic trends and what might be ...

Non-performing loans (NPLs) in Cyprus remained steady at 9.5 per cent of total loans at the end of January 2023, as in the previous month, while absolute NPL numbers rose by around €13 ...

The Cyprus Chamber of Commerce and Industry (Keve) this week announced that a tripartite business mission to Almaty, Kazakhstan is set to take place on 16-19 May 2023. The mission, which ...

British bank NatWest (NWG.L) posted better than expected profit for the first three months of 2023 as income soared 37 per cent, even as inflation hammered households and fierce pricing competition ...

In mid-March, as prices for US Treasury bonds swung wildly following the collapse of Silicon Valley Bank, the trading desk at Legal & General Investment Management hit its top limits ...

Hellenic Bank on Thursday released a statement in which it underlined its support for the shipping industry and its people, something which is reflected through its backing of this year’...

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 ...