Cyprus Business Now
The Bank of Cyprus on Tuesday announced that its board of directors will meet on Tuesday, August 30, 2022, to review the financial results of the Bank of Cyprus Group for the ...
Bank of England will probably need to raise rates again, Ramsden says
The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflation pressures that are gaining a foothold in Britain’s economy, BoE ...
Debt restructurings slow down in 2022 following a record year
By Gregoris Savva
Debt restructurings in Cyprus declined to €545 million in the first half of 2022, with loan renegotiations slowing down following a record 2021 due to the Covid-19 pandemic, and as ...
What is central bank independence?
Talk of changes to the Bank of England’s powers has revived a debate on whether central banks should be independent of governments and in what way.
Central bankers are ...
Cyprus Business Now
Cypriot company Point Nine on Thursday announced that it will be holding its third annual conference on September 16, 2022, with the event taking place at the Four Seasons Hotel in Limassol.
...
Global risk, compliance firm partners with bar association for AML training
K2 Integrity — a risk, compliance, investigations and monitoring firm, on Thursday announced its partnership with the Cyprus Bar Association (CBA) giving CBA members access to K2 Integrity’s Certified Risk ...
BoE raises rates by most since 1995 even as long recession looms
The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a ...
Turkey’s banking sector H1 net profit surges 400 per cent year-on-year
The net profit of Turkey’s banking sector leapt 400 per cent from a year earlier to 169.15 billion lira ($9.42 billion) in the first half of the year, the BDDK banking watchdog ...
Cyprus Business Now
The Central Bank of Cyprus (CBC) this week released a report showing that pure new credit granted by Cypriot banks in June rose to €343.6 million, representing an increase of 32 per ...
Cyprus Central Bank signs European equality, diversity, and inclusion charter
The Central Bank of Cyprus (CBC) has signed the European System of Central Banks (ESCB) equality, diversity, and inclusion Charter.
The aim of the Charter, according to a press release ...
S&P affirms Bank of Cyprus at B+/B with a positive outlook
International rating agency S&P Global Ratings this week announced that it has affirmed its ‘B+/B’ long- and short-term issuer credit ratings for the Bank of Cyprus, maintaining ...
Cyprus Business Now
The Gloria Jean’s Coffee franchise in Cyprus will now be under new ownership, with the new owner being Lanitis Entertainment.
This marks the end of C.C. Coffee Company’...
Bank of Cyprus named ‘Best Bank’ in Cyprus
The Bank of Cyprus on Tuesday announced that it has been named as the ‘Best Bank’ in Cyprus for 2022 by finance magazine Euromoney.
The bank said that the accolade comes ...
HSBC raises key profitability goal, seeking to rebuff call for break-up
HSBC (HSBA.L) sought to woo investors on Monday with a higher profitability target and bullish dividend outlook, as Europe’s biggest bank pushed back on a proposal by top ...
Central bank, companies clash over Turkey’s new loan rules
A big Turkish business group and the central bank clashed on Friday over recent regulations covering loans, with the Istanbul Chamber of Industry’s (ISO) head saying the measures create “...
Moody’s welcomes BoC exit scheme, says profitability to recover faster
The Bank of Cyprus’ voluntary retirement plan, which recently received approval for the departure of 550 people at a cost of approximately €99 million, was described as credit positive in a report ...
NatWest boosts investor payouts even as inflation gathers pace
British bank NatWest (NWG.L) raised its full-year guidance and made a bumper payout to shareholders on Friday after rising interest rates lifted its finances, despite runaway inflation threatening to ...
Cyprus Business Now
Cypriot banks see a tightening of lending criteria for the second quarter of 2022, due to the uncertainty related to Russia’s invasion of Ukraine, according to the Q1-22 Bank ...
European stocks trim gains on some downbeat earnings
European shares came off session highs on Thursday, as a slew of downbeat earnings including from Santander took the shine off a global rally driven by easing worries about the ...
Qatar’s central bank raises deposit rate by 75 basis points to 3 per cent
The Central Bank of Qatar said on Wednesday it raised its main deposit rate by 75 basis points (bps) to 3 per cent, moving in tandem with the US Federal Reserve’s ...
Cyprus Business Now
The Central Bank of Cyprus on Wednesday released a report which showed that the outstanding amount of deposits in June reached €51.3 billion.
Moreover, the report by the central bank also ...
Economic sentiment in Cyprus improves in July
Economic sentiment improved in July, the University of Cyprus’ Economic Research Centre said on Wednesday.
In its monthly bulletin, the research centre says that in July 2022, economic sentiment in Cyprus ...
Buoyant company earnings lift recession-focused markets
Better-than-expected earnings from a raft of US and European companies helped steady global stock markets on Wednesday, cutting through gloom caused by rising interest rates and the threat of an ...
Lebanon parliament passes amendments to banking secrecy law
Lebanon’s parliament on Tuesday passed long-awaited amendments to a banking secrecy law, according to a Reuters witness, in the first step towards reforms required by the International Monetary Fund (...