Banking and Finance

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 ...

While British households head into a winter of soaring energy costs, a tumbling currency and nearly double-digit inflation, the country’s banks are in line for a handsome payday as ...

The Bank of England moved to ease concerns about the expiry at the end of this week of its emergency programme to calm turmoil in the government bond market, including ...

Ratings agency Moody’s on Wednesday announced that it has upgraded the Bank of Cyprus and Hellenic Bank’s long-term ratings, including their long-term bank deposit ratings to Ba2, from ...

Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies. The trial, which ...

Net new lending in Cyprus fell during August 2022, dropping to €182.3 million, the second month in a row where a decrease was observed, according to a report released on Tuesday by ...

Swiss lender Credit Suisse Group AG (CSGN.S), battered by scandals and losses, is racing through a restructuring plan. Wild market swings and a social media storm are making that ...

Britain’s bond market is undergoing “a major repricing”, but should comfortably absorb the extra 62 billion pounds ($69 billion) of debt announced after finance minister Kwasi Kwarteng’s Sept. 23 mini-budget, the ...

British finance minister Kwasi Kwarteng on Monday abruptly dropped his plan to eliminate the top rate of income tax, part of his Sept. 23 “mini budget” that triggered a rout of ...

Calls to the Bank of England saying some British pension funds were struggling to meet margin calls began on Monday. By Wednesday they were getting more urgent and coordinated. Wild ...

Vibrant Limassol event plays host to business and technology stakeholders from Cyprus and abroad By Kyriacos Nicolaou Startup founders, entrepreneurs, media personalities, technology sector stakeholders and creatives all got together ...

Eight of the world’s biggest banks, including Deutsche Bank, Goldman Sachs and Bank of America, say it is unfair to rope them into a vast London lawsuit over alleged ...

Britain’s central bank resorted to buying bonds again on Wednesday in an emergency move to reduce the chaos in financial markets which was triggered last week by the tax ...

Hellenic Bank CEO Oliver Gatzke on Wednesday said that since first being appointed to the role 15 months ago, the bank has evolved into an organisation with a leaner management structure, ...

Nervous financial markets propelled the safe-haven dollar to a fresh two-decade peak on Wednesday as rising global interest rates fed recession worries, while sterling languished near all-time lows on fears ...

The International Monetary Fund openly criticised Britain‘s new economic strategy, following another slide in bond markets that forced the Bank of England to promise a “significant” response to stabilise ...