Banking and Finance

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 ...

There was a net increase of €173.7 million in total deposits and a net decrease of €100 million in total loans in August 2022, according to a report released on Tuesday by the ...

Sterling’s slide to record lows leaves it staring at parity with the dollar. Whether or not it hits the symbolic level, investors say Britain’s new government has dealt ...

Private equity firm Lone Star, in a statement issued on Tuesday to the London Stock Exchange, said that it is not intending to submit a revised offer for the acquisition ...

Rock-bottom investor confidence in Britain will only recover with a U-turn of the economic plan announced last week by finance minister Kwasi Kwarteng, US economist Larry Summers and J.P. ...

Britain’s pound plunged to an all-time low early on Monday as international investors reacted to plans laid out by the country’s new prime minister and finance minister to ...

Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain’s plan to borrow its way ...

Shares of retail brokerage Robinhood Markets Inc and market maker Virtu Financial (VIRT.O) jumped following a media report that the US Securities and Exchange Commission (SEC) will stop short ...

The reach of Russia’s alternative to the SWIFT international messaging system has grown at record pace this year, the central bank said on Friday, as Moscow ramps up efforts ...