Banking and Finance

Goldman Sachs on Friday said it now expects the European Central Bank (ECB) to deliver its first interest rate cut in the second quarter of 2024, compared to an earlier forecast ...

Eurobank Cyprus has successfully completed the certification process for its Environmental Management System, adhering to the principles of the international standard ISO 14001:2015, according to an announcement released on Thursday. This ...

The Cyprus Securities and Exchange Commission (CySEC) has seen a significant increase of 12 per cent in entities under its supervision over the last four years, according to George Karatzias, the ...

A Limassol court this week found in favour of a group of depositors with now-defunct Laiki (Popular) Bank who saw their savings wiped out in the March 2013 ‘haircut’, awarding them €5.7 ...

After making hay when a summer bond rout propelled the US dollar to 10-month highs, hedge funds are now pondering what lies ahead for the greenback. The dollar, down 3.5 per ...

November has shaped up to be a fairytale month for equities, with the festive Santa rally investors traditionally hope for coming early as traders bet on a Goldilocks scenario of ...

A debt crunch at Swedish property group SBB has left the European Central Bank at risk of losses and highlighted the 26 billion euro ($29 billion) exposure it built up to Europe’...

Bank of England Governor Andrew Bailey said on Wednesday that the central bank “will do what it takes” to get inflation down to its 2 per cent target, adding that he ...

The rapid adoption of artificial intelligence could reduce wages, but so far is creating, not destroying jobs, especially for the young and highly-skilled, research published by the European Central Bank ...

The Central Bank of Cyprus on Tuesday released its Monetary Financial Institutions (MFIs) deposits and loans statistics for October 2023, revealing a decrease in both deposits and loans during this period. ...

CBC governor Constantinos Herodotou on Tuesday underscored the evolving European economy’s nuances and the impacts of prevailing monetary policies, during a conference hosted by the Central Bank of Cyprus ...

A top UK central banker on Tuesday emphasised that monetary policy would need to be “restrictive” for some time to defeat inflation, a message echoed by fellow policymakers from Australia ...

Scope, Europe’s first ECB-approved credit ratings agency, promises to put more weight on the euro zone’s improved ability to navigate crises although it has concerns about Italy and ...

Despite making easy money, Cyprus banks not helping economy and society By Les Manison Cyprus banks have benefitted considerably from the higher interest rate policies of the ECB since mid-2022, ...

Alpha Bank Cyprus on Friday announced that it expanded its product range by offering a new deposit interest rate of 2.75 per cent annually for deposits exceeding €100,000. According to the announcement, ...

The state-owned Housing Finance Corporation (HFC) will be able to buy performing loans and sell its non-performing loans like any other bank, under a law passed by the House on ...

The European Commission this week projected a significant 30 per cent decrease in Cyprus’ public debt, as a percentage of its Gross Domestic Product (GDP), by the end of 2024. This projection ...

Scope Ratings, a German rating agency, this week upgraded the long-term rating of the Republic of Cyprus from BBB to BBB+, maintaining a stable outlook for the Cypriot economy. This ...

The ability of Cypriot banks to reduce operating costs while investing in digital transformation will be key to offsetting inflationary pressure and still-high credit provisions, rating agency Standard and Poor’...

The British Business Bank (BBB) will set up a new fund for pension schemes and asset managers to invest in growth companies, part of wider reforms to unlock savers’ cash ...

Here are the top business stories in Cyprus from the week starting November 13: Port management company DP World Limassol on Wednesday announced that Limassol port saw record cruise ship calls ...

The third quarter of 2023 saw a significant decline in the assets of investment organisations in Cyprus, despite a rise in their numbers, according to a report released on Friday by ...

As financial services evolve, two terms have increasingly become the focal point of discussion and innovation: open banking and open finance. These concepts, though related, offer distinct advantages and have ...

The Cyprus Investment Funds Association (CIFA) on Friday expressed its commendation for the recent approval by the Cabinet of a draft law regarding the establishment and operation of Fund Managers ...