Banking and Finance

Wall Street’s major averages closed lower on Thursday with technology-heavy Nasdaq’s 2% drop leading losses as investors worried that data showing a resilient economy would lead the U.S. ...

The European Central Bank (ECB) on Thursday said it has withdrawn the banking licence of Cyprus’ RCB Bank Ltd. The decision follows the orderly completion of the bank’s voluntary ...

The rouble recovered on Thursday after hitting its weakest mark since late April as the prospect of a favourable month-end tax period mitigated concerns over the impact of sanctions on ...

Trillions of dollars wiped off world stocks, bond market tantrums, whip-sawing currency and commodities and the collapse of a few crypto empires – 2022 has been perhaps the most turbulent year investors ...

Cash is losing its top spot as the euro zone’s dominant means of payment, a European Central Bank survey showed on Tuesday, in a historic shift for a part ...

The rouble plunged to its weakest level since early May past 70 against the dollar on Wednesday, taking its monthly losses to almost 14% as fears over sanctions on Russian oil and ...

By George Christou Hellenic Bank CEO, Oliver Gatzke, after a two-month absence from his post, returned to the helm 10 days ago determined to deal with all pending issues facing and ...

The Cypriot government generated a surplus of €651.4 million for the period between July and September 2022, compared to a surplus of €319.5 million in the corresponding period last year, according to a ...

The Central Bank of Cyprus (CBC) on Tuesday announced the launch of a new Innovation Hub in the field of financial technology (fintech), in an effort to encourage and support ...

BlackRock (BLK.N) plans no major changes to the way it engages with companies and votes on environmental and social issues in the year ahead, despite a backlash against its ...

Limassol-based rating agency Capital Intelligence this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of the Bank of Cyprus (BoC) to ‘BB’, from ‘BB-‘. In ...

The Bank of Cyprus was named Bank of the Year in Cyprus for 2022 by the international magazine ‘The Banker’. According to an announcement from the Bank of Cyprus, Panicos Nicolaou, ...

By Maria Demertzis Central bank digital currencies (CBDCs) have become a reality in ten countries: a number of countries in the Caribbean plus Nigeria. As a digital equivalent of a ...

Panicos Nicolaou’s term in office as Chief Executive Officer (Ceo) of the Bank of Cyprus has been extended for another 4 years. During meetings on Friday, the Boards of Directors ...

European shares slid on Friday, ending the week sharply lower after major central banks flagged further rate hikes, while economic activity data from the euro zone failed to assuage concerns ...

Cyprus’ GDP is estimated to have reached a growth rate of 5.8 per cent for 2022, according to a report released on Friday by the Central Bank of Cyprus (CBC). However, in ...

Some investors believe an expected recession will force the Federal Reserve to loosen monetary policy next year, even as the central bank projects it will raise rates higher than it ...

Capital Intelligence Ratings (CI Ratings) this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of Hellenic Bank (HB) to ‘BB’ from ‘BB-‘ and affirmed the ...

The European Central Bank raised interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, pledged further hikes and laid ...

A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how ...

Barclays (BARC.L) is exploring a return to Saudi Arabia in a bid to capture a slice of the country’s burgeoning capital markets, two people close to the matter ...

The Cypriot banking system incurred losses after tax of €36 million, on a consolidated basis, in the first half of 2022, compared to profits of €22.54 million in the corresponding period of 2021, according ...

The Central Bank of Cyprus (CBC) announced this week that it successfully held a one-day event in which it sought to bolster financial literacy awareness among secondary education teachers. The ...

The European Central Bank’s Single Supervisory Mechanism (SSM) on Monday announced its intention to focus on credit risk provisions and, more broadly, new lending procedures, due to the deterioration ...