UBS investors warm to Credit Suisse deal
UBS’s (UBSG.S) emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS investors ...
PwC Cyprus showcases investment opportunities at NY summit
New York City played host to the Economist’s annual Eastern Mediterranean Business Summit on July 10, with PwC Cyprus serving as the platinum sponsor, according to an announcement released by ...
For markets, BoE communication is bottom of the class
As markets navigate a likely end to the steepest interest rate rises in decades, investors say the Bank of England has been less consistent in its messaging than other major ...
CySEC reaches €100K settlement with broker accused of market abuse
The Cyprus Securities and Exchange Commission (CySEC) on Friday announced that it has reached a settlement with a licensed broker for market abuse violations.
The commission explained that it has ...
Tumbling US dollar a boon to risk assets across the globe
Cooling US inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit.
The dollar is down nearly 13 per cent against a basket of ...
Cyprus Business Now
During his speech at The Economist business conference on the Eastern Mediterranean held in New York this week, Constantinos Herodotou, the Governor of the Central Bank of Cyprus (CBC), emphasised ...
How the property crash unravelled Sweden’s SBB
For hundreds of thousands of ordinary Swedes, investing in one of their country’s biggest landlords SBB (SBBb.ST) was a sure bet for years. Now it is at the ...
Global venture investments overview — June 2023 edition
A monthly guide to the world of venture investments news provided by the international angels community ICLUB
In the June edition of the News Digest, we talk about the picks ...
Stocks around 2023 highs as disinflation signal brings some relief
Global stocks traded around their highs for the year on Thursday as investors bet that the Federal Reserve was finally taming inflation and could end its rate hiking cycle as ...
Hedge funds grow more cautious on crypto after turmoil
Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector, a survey showed on Tuesday.
...
Bank of England says Britain is coping with higher interest rates
Britain’s economy is so far proving resilient to a surge in interest rates over the past year and a half, but it will take time for the full impact ...
Hellenic: keeping the focus on sustainable development
Headlined ‘The day after is already here’, the 15th Conference on Corporate Sustainability & Responsibility that took place featured Hellenic Bank, which remains committed to its goal of leading the ...
Countries agree to extend digital services tax freeze through 2024
With the exception of Canada, countries with digital services taxes have agreed to hold off applying them for at least another year as a global multinationals tax deal to replace ...
US banking giants to report higher profits even as dealmaking drags
Wall Street banks are expected to report higher profits for the second quarter as rising interest payments offset a downturn in dealmaking.
For universal banks such as JPMorgan (JPM.N) ...
Saudi National Bank was denied taking 40 per cent Credit Suisse stake, Blick reports
Saudi National Bank wanted to increase its stake in Credit Suisse to around 40 per cent from 9.88 per cent, but was prevented from doing so by Swiss regulator FINMA, Blick newspaper ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting July 3:
Cyprus’ tourism revenue reached €217.6 million in April 2023, compared to €185.1 million in the same month of the previous ...
Cyprus sees sharp increase in corporate loans in May 2023
New corporate loans exceeding €1 million experienced a significant surge, totalling €599.1 million, in May 2023, driving the total amount of all new loans to €1.07 billion, compared to €473.9 million in the previous month.
...
Deputy Lebanon central bank governors’ threat to collectively resign ‘dangerous’, deputy premier says
Deputy premier Saade Chami said on Friday that deputy governors of Lebanon’s central bank should run it if no governor is appointed by the end of the month, calling ...
Raiffeisen delays quitting Russia as Austria defends ties
Raiffeisen Bank International is delaying plans to leave Russia, three people familiar with its position said, as Austria steps up its defence of long-standing ties with Moscow.
Raiffeisen (RBI), the ...
Effective strategies to get rid of debt
Debt is a very common problem that burdens many families, individuals and businesses.
To acknowledge the importance of this phenomenon, this article explores some functional strategies to help individuals break ...
‘Banks and fintechs working together entails opportunities and risks’
The governor of the Central Bank of Cyprus Constantinos Herodotou and the president of the European Banking Authority Jose Manuel Campa this week emphasised the potential for positive synergies between ...
Why a $1.5 trillion source of corporate financing is choking on higher rates
A financial stream that helped fund the world’s riskiest companies and grew into a market estimated at $1.5 trillion in the low interest rate years is drying up, as aggressive ...
Cyprus banking system on solid footing, says EBA president
The liquidity and capitalisation of the Cypriot banking system are above the European Union average, while efforts on reducing non-performing loans are progressing well, the president of the European Banking ...
UK banks asked by lawmakers if they’re ‘exploiting’ savers with low rates
British banks faced fresh criticism on Monday for the savings rates they offer to cash-strapped customers, in the latest intervention by parliament’s influential Treasury Select Committee.
The committee said ...