Banking and Finance

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 ...

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’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 (...

The prospect of another Russian gas supply cut knocked the euro lower on Tuesday, while dollar gains were tempered by mounting uncertainty over the US Federal Reserve’s policy-tightening path ...

By Maria Demertzis The last time the euro was at parity with the dollar was 20 years ago in November 2002. The current situation of an almost one-to-one exchange is therefore an ...

The Bank of Cyprus on Monday announced that it has approved around 550 of its employees for the bank’s voluntary retirement scheme. The total cost of the implementation of the ...

KPMG was fined 14.4 million pounds ($17.27 million) on Monday after the accounting firm admitted to providing false and misleading information to its regulator during spot checks on audits of construction firm ...

Credit Suisse (CSGN.S) is considering how it could cut costs further after a dismal performance by the embattled bank in the past quarter, SonntagsZeitung reported, citing senior sources. “The ...

Global stocks were marginally higher on Friday, eyeing a sixth day of gains as European markets rose, while weak euro zone business activity data hit the euro and weighed on ...

Ukraine’s central bank devalued the hryvnia currency by 25% against the U.S. dollar on Thursday to help the country cope with the growing economic impact of the war with ...

The Belarusian finance ministry said Western sanctions that have limited Minsk’s ability to deal in foreign currencies are pushing the country into default despite Minsk being able to service ...

The European Central Bank will raise interest rates for the first time in 11 years on Thursday with a bigger-than-flagged move seen as increasingly likely as policymakers fear losing control of ...

Importers of technology products from China paid over $32 billion worth of tariffs imposed by President Donald Trump between mid-2018 to the end of 2021, a new trade group report showed on ...

U.S. Treasury Secretary Janet Yellen on Tuesday said deeper trade ties among allies could help fight inflation and thwart China’s “unfair trade practices,” vowing to impose harsh consequences ...

The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday ...

Asian share markets rallied on Monday following a much-needed bounce on Wall Street, though nerves were stretched ahead of a near-certain interest rate hike in Europe and another round of ...

Traditional debt crisis signs of crashing currencies, 1,000 basis point bond spreads and burned FX reserves point to a record number of developing nations now in trouble. Lebanon, Sri Lanka, Russia, ...

Cyprus’ non-performing loan (NPL) ratio rose to 11.4 per cent in the first quarter of 2022, according to a report released this week by the Central Bank of Cyprus. The NPL ratio ...

Russia’s central bank is resisting domestic calls to take over the running of foreign lenders’ local businesses, two sources with direct knowledge of the matter told Reuters, concerned in ...

The euro’s tumble below $1 for the first time in two decades puts it on course for one of the worst years in its history, especially if the energy price ...

Europe’s single currency has dropped below parity against the dollar for the first time in almost 20 years, battered by growing recession fears in the euro area. On Wednesday, it ...

By Robert Street In recent years Cyprus has significantly enhanced its fund legislation to position itself as a flexible and cost-effective jurisdiction for funds and fund managers within the European ...

The total value of assets under management (AUM) by Collective Funds declined by 3.9 per cent in the first quarter of 2022 over the previous quarter, while Management Companies and Undertakings of ...

The European Union’s body for dismantling failed banks said on Wednesday it would ratchet up pressure on lenders over the coming months to bolster their defences so that none ...