Banking and Finance

The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($143 billion) in 2022, it said on Monday, the biggest in its 115-year history as falling stock and fixed-income markets ...

Wage growth across the euro zone is expected to be “very strong” over the next few quarters but real wages are still likely to decline given rapid inflation, a European ...

Goldman Sachs Group (GS.N) will start cutting thousands of jobs across the firm from Wednesday, two sources familiar with the move said, as it prepares for a tough economic ...

Cyprus-born Theophanis Theophanous has an international practice that focuses on strategic and family office clients in Central and Eastern Europe, the Middle East, Asia, and Africa. His ultimate ambition is ...

Partner and head of international tax services at advisory and consulting firm PwC Cyprus Stelios Violaris recently examined the adoption of the minimum tax rate of 15 per cent, outlining the ...

The Association for the Protection of Borrowers (Syprodat) on Wednesday released a statement calling on the government to draw up and implement immediate relief measures for consumers, households, businesses and ...

The Central Bank of Cyprus (CBC) on Wednesday published a report detailing interest rate statistics concerning Cypriot banks, including for deposits and loans of eurozone residents in euros, as well ...

Banks should be more careful about the risks of fraud, legal uncertainty and misleading disclosures by crypto firms, US regulators warned on Tuesday, just two months after the collapse of ...

Goldman Sachs Group Inc’s (GS.N) top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown ...

Having weathered a dire 2022, many global hedge fund managers are preparing this year for persistent inflation and seeking exposure to commodities and bonds that perform well in such an environment. ...

The main indicators concerning Cyprus’ foreign trade experienced a decline during the third quarter of 2022, according to a report using preliminary data, which was published on Tuesday by the Central ...

The Bank of Israel raised its benchmark interest rate (ILINR=ECI) by half a point on Monday, and will likely continue its increases a bit more in coming months, saying ...

For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, ...

The outgoing year saw a number of key events in Cyprus’ economy and business world, ranging from domestic legislation to influential international incidents By Kyriacos Nicolaou Resilience amidst adverse conditions ...

Greek lender Eurobank Ergasias on Friday announced a new acquisition of shares in Hellenic Bank, further increasing its stake in Cyprus’ second largest lender. Eurobank S.A., a subsidiary of “...

The National Betting Authority this week announced that it recorded a 24 per cent year-on-year increase in gross betting revenue during the third quarter of 2022, generating €238.1 million, compared to €192.08 million in ...

US stock investors could not be more eager to turn the page on 2022, a brutal year dominated by market-punishing Federal Reserve rate hikes designed to tamp down the steepest inflation ...

Four international rating agencies this week published the dates upon which they will issue their newest evaluating reports on the Republic of Cyprus’ creditworthiness for 2023. The assessments will take place ...

The bank workers union (Etyk) on Wednesday released a statement responding to the recent decision by the attorney-general, stipulating that former bank employees who left their positions by accepting voluntary ...

Israel’s banking regulator on Sunday approved a conditional licence and control permit to a group of entrepreneurs to establish a new online bank, the second addition to the highly ...

Vietnam’s central bank said on Tuesday it was making efforts to shore up foreign exchange reserves by buying up more US dollars, after it was forced to sell a ...

SoftBank-backed Paytm (PAYT.NS) said on Wednesday that going ahead there will be no more cash burn in the business and that the Indian digital payments firm was far ahead ...

Stock markets gained while the US dollar softened on Tuesday after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls aimed at curbing ...

Between the government’s main focus being more and better paid public employees and banks’ passiveness and single-mindedness the economy only works for the few President Nicos Anastasiades, Minister of ...