Banking and Finance

The European Union on Tuesday announced that it had added the British Virgin Islands, Costa Rica, Marshall Islands and Russia to its list of non-cooperative jurisdictions for tax purposes. This ...

Credit cards are becoming increasingly useless in Venezuela because of high inflation and government restrictions, hurting people already struggling to meet daily needs on low salaries, banking industry sources, analysts ...

A Russian scheme to grant loan payment holidays to troops fighting in Ukraine, and for banks to write off the entire debt if they are killed or maimed, has added ...

The presidents of the Institute of Chartered Accountants in England and Wales (ICAEW) and The Institute of Certified Public Accountants of Cyprus (ICPAC) on Friday announced that they have signed ...

The chief executive of JPMorgan Chase & Co. (JPM.N), the biggest US bank, cautioned against declaring victory against inflation too early, warning the Federal Reserve could raise interest rates ...

Britons would be limited to 20,000 digital pounds ($24,000) each if the country goes ahead with a digital currency, Bank of England Deputy Governor Jon Cunliffe said on Tuesday. Britain’s government ...

Revolut is giving customers the chance to earn cryptocurrency rewards if they allow the lender to “stake” their coins to verify blockchain transactions, in a sign the digital bank is ...

Cyprus and India can mutually benefit through a deeper and broader economic and business collaborative relationship, according to an analysis released this week by two executives from consulting and advisory ...

The total number of loan restructurings in Cyprus appears to have decelerated in 2022, after their sudden and sharp increase in 2021 due to the adverse economic effects of the coronavirus pandemic, ...

APS Group, one of the leading alternative asset management companies in Central, Eastern, and South-eastern Europe, on Tuesday announced that it has acquired a corporate and SME secured loan portfolio ...

Inflation in the euro area remains far too high so the risk of the European Central Bank not raising interest rates high enough is still a bigger than that of ...

Net new lending in Cyprus stood at €3.23 billion in 2022, reflecting a 10 per cent increase compared to the previous year, despite the uncertainty created by the war in Ukraine, according to ...

Lending rates in Cyprus rose again in December 2022, with deposit rates also moving higher amid the European Central Bank’s normalisation of key interest rates, according to a report released ...

Investment firms and brokers in Britain teamed up on Thursday to back a new standalone retail platform to strengthen access for small investors to the UK capital market. Investment bank ...

PayPal Holdings Inc (PYPL.O) will need to cut more costs with its payment volumes expected to shrink as customers batten down the hatches to prepare for a potential economic ...

The household debt ratio in Cyprus stood at 77 per cent of GDP at the end of the third quarter of 2022, marking a slight decrease compared to the previous quarter, according ...

The overall solvency ratio of the Cypriot banking sector stood at 21.2 per cent at the end of September 2022, its highest level since the Central Bank of Cyprus (CBC) began collecting ...

The Cyprus Securities and Exchange Commission (CySEC) announced that there was an increase in the number of Management Companies and Undertakings of Collective Investments (UCIs) during the third quarter of 2022, ...

The outgoing government is handing over a healthy and robust economy, with prospects for further growth and development in the current years, Finance Minister Constantinos Petrides said during a presentation ...

Alpha Bank Cyprus on Tuesday announced that its board of directors has decided to appoint Miltos Michaelas as the bank’s new chief executive officer (CEO). The bank explained that ...

Iran and Russia have connected their interbank communication and transfer systems to help boost trade and financial transactions, a senior Iranian official said on Monday, as both Tehran and Moscow ...

Counterfeit euro banknotes withdrawn from circulation in Cyprus reached 451 in 2022, marking an increase of 113.7 per cent compared to the previous year, according to an announcement made by the Central Bank ...

Top central bankers, who credit the use of a 2 per cent inflation target with anchoring decades of stable prices, are facing the first full-on test of how well that approach ...

The European Central Bank looks set on Thursday to deliver another large interest rate rise to curb inflation. What it does after that is less certain. ECB President Christine Lagarde, ...