Banking and Finance

The global economy is approaching a recession as economists polled by Reuters once again cut growth forecasts for key economies while central banks keep raising interest rates to bring down ...

For more than a decade since the global financial crisis, central bankers pumped trillions of dollars of cheap money into the financial system to keep the economy afloat. Now that ...

Increased interest revenue stemming from monetary policy normalisation should not overshadow Cypriot banks’ structural vulnerabilities, Constantinos Herodotou, governor of the Central Bank of Cyprus (CBC) said on Monday. Speaking to ...

Britain’s main equity indexes closed higher on Monday as Rishi Sunak looked set to become the next prime minister after other candidates quit the race, offering investors some relief ...

The dozens of staff to be cut at Deutsche Bank’s (DBKGn.DE) investment bank include staff based in Britain, a person with knowledge of the matter said on Friday. ...

International rating agency Capital Intelligence on Saturday announced that it has upgraded the long-term rating of Cyprus in foreign currency to “BBB-“, from “BB+”. At the same time, the agency ...

Hellenic Bank is forging ahead decisively in its modernisation drive. As part of its digital transformation rollout, the Bank is changing the way in which day-to-day banking transactions are conducted, ...

Hellenic Bank on Thursday announced a number of changes to its banking services, aiming to empower its meeter greeter service, which in turn will help customers become more comfortable with ...

Lebanon’s parliament passed another round of amendments to a banking secrecy law after the International Monetary Fund said a previous draft retained key deficiencies. The IMF has laid out ...

Cyprus’ Gross Domestic Product (GDP) was revised to €24.01 billion at current prices for 2021 and to €21.89 billion for 2020, according to a report released on Monday by the Cyprus Statistical Service (Cystat). ...

Mexico’s biggest non-bank lenders may need to become licensed banks, analysts said, as they maneuver through growing market turmoil to avoid the fate of three big peers who defaulted ...

London shares rose on Monday as new finance minister Jeremy Hunt reversed Prime Minister Liz Truss’s economic plan announced three weeks ago that slammed UK markets and dented investor ...

Goldman Sachs is planning a major reorganization as part of which its storied investment banking and trading businesses will be combined, while consumer banking will be absorbed by its wealth ...

Creating a US central bank digital currency is likely not important to the long-term status of the US dollar, Federal Reserve Governor Christopher Waller said Friday. In a speech during ...

Non-performing loans (NPLs) in Cyprus’ banking sector stood at €2.85 billion at the end of July 2022, reflecting a decrease of €69 million compared to the previous month, according to a report published ...

The shareholders of the International Monetary Fund and World Bank on Friday selected Ukrainian Finance Minister Serhiy Marchenko as the next rotating chair of the boards of governors of both ...

The island’s inland revenue service on Friday warned businesses that they must adopt the use of card payment machines or risk hefty fines. In a statement, it warned that ...

Investors piled cash into sterling money-market funds at more than three times their usual rate during the recent turbulence in British bond markets, and pension funds likely made up the ...

Global investors and banks have been voicing confusion about their efforts to convert depositary receipts of Russian companies into ordinary shares in compliance with a new Russian law, according to ...

European Central Bank policymakers are closing in on a deal to change rules governing trillions of euros worth of loans to banks in a move that will shave tens of ...

The Association for the Protection of Borrowers (Syprodat) on Tuesday released a statement in which it requests meetings with House Speaker Annita Demetriou, Central Bank Governor Constantinos Herodotou, as well ...

The Bank of England acted again on Tuesday to stem a sharp sell off in Britain’s 2.1 trillion-pound ($2.31 trillion) government bond market by announcing the purchase of inflation-linked debt until ...

JPMorgan Chase & Co JPM.N Chief Executive Jamie Dimon said the United States and the global economy could tip into a recession by the middle of the next year, ...

The residual entities of the now-defunct Cyprus Cooperative Bank (CCB) have signed a deal involving the transfer of the former lender’s assets. In a statement, Kedipes (Cyprus Asset Management ...