Banking and Finance

The Bank of England will add another 50 basis points to Bank Rate next week and take borrowing costs to 3.50 per cent, despite the economy falling into recession, as it battles ...

Global ratings agency Fitch this week announced that it has upgraded the Bank of Cyprus’ Long-Term Issuer Default Rating (IDR) to ‘B+’ from ‘B-‘ and Viability Rating (VR) to ‘b+’ ...

Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened ...

The European Central Bank will have to raise interest rates several more times to tame price pressures, even if headline inflation is now close to its peak, ECB chief economist ...

Bank of England rate-setter Swati Dhingra said in an interview published on Saturday that higher interest rates could lead to a deeper and longer recession, adding there were few signs ...

Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs. Rising cost pressures as a result of inflation and shrinking ...

Cyprus’ general government posted a surplus of €556.4 million for the period between January and October 2022, according to the preliminary financial results published this week by the Cyprus Statistical Service (Cystat). ...

Interest rates on deposits in Cyprus have experienced a slight increase, while interest rates for housing and consumer loans have decreased, according to a report published on Friday by the ...

Wargaming Group Limited on Friday announced that on November 30 2022, it reached an agreement to sell a holding of 13.41 per cent (55,337,721 shares) in Hellenic Bank Public Company Limited (“Hellenic Bank”) to ...

NatWest (NWG.L) has offered the bulk of its 41,500 staff in Britain a pay rise and one-off cash sum to help them cope with soaring prices, after a backlash from ...

Eurobank on Thursday said that it has increased its stake in Hellenic Bank to 26 per cent, having now made an agreement for the acquisition of a 13.4 per cent share that ...

Hellenic Bank on Wednesday released its financial results for the first nine months of 2022, posting a profit of €76.4 million, compared to a profit of €21 million in the corresponding period of 2021, ...

The European Central Bank warned on Tuesday that it might make a loss as high inflation forces it to raise interest rates and foot the bill of a decade of ...

The return of deposits to those affected by the closure of Lebanese bank branches on the island in recent months was carried out in a timely manner with the oversight ...

A senior banker is suing NatWest (NWG.L) for around 4.3 million pounds ($5.2 million) after a London judge ruled that she was discriminated against and unfairly dismissed days after cancer surgery. ...

Germany’s Deutsche Bank (DBKGn.DE) has a stark warning to European companies borrowing from US lenders: They will drop you when times get tough. The caution, spelled out in ...

Lending criteria became tighter during the third quarter of 2022 in Cyprus, both for businesses and households, according to a bank lending survey conducted by the Central Bank of Cyprus (CBC). ...

Lebanon’s central bank has completed an audit of its gold reserves at the request of the International Monetary Fund that found the amount of gold in its vaults was ...

The Cyprus Shipping Chamber (Kne) held its monthly general meeting on Wednesday, during which it closely examined and discussed the eighth package of sanctions against Russia, as it is expected ...

Credit Suisse (CSGN.S) expects a pre-tax loss of up to 1.5 billion Swiss francs ($1.58 billion) in its fourth quarter as it keeps bleeding cash, the Swiss bank said on Wednesday, ...

Saudi Arabia and Turkey are discussing Riyadh placing a $5 billion deposit at Turkey’s central bank, a Saudi Ministry of Finance spokesperson said on Tuesday. “We are in final discussion ...

The world’s largest investment banks expect global economic growth to slow further in 2023 following a year roiled by a war and soaring inflation that triggered one of the fastest ...

Financial technology companies, long seen as a threat by the likes of JPMorgan Chase & Co (JPM.N), are increasingly becoming acquisition targets for traditional US banks as rising interest ...

Parliament’s decision to extend foreclose freezes until January 2023 is “ridiculous” and exposes Cyprus for no reason, Bank of Cyprus group chief executive Panicos Nicolaou said on Friday. “This is ...