Banking and Finance

Russia’s central bank lowered its key interest rate to 11 per cent on Friday and said it saw room for more cuts this year, as inflation slows from more than 20...

Cyprus-licensed bank AstroBank on Wednesday announced that it recorded an after-tax profit of €3.3 million in 2021, a notable improvement on the €18 million loss it sustained in 2020. Moreover, the bank recorded a ...

Hellenic Bank on Wednesday described the decision by the bank employees’ union Etyk to stage a 24-hour warning strike on May 31 as “sad and disappointing”. The Etyk executive council announced ...

Lebanese banks are planning to close their branches in Cyprus, following a decision by the Lebanon Central Bank, according to a report by the Cyprus News Agency (CNA) released on ...

Cyprus continues to experience excessive macroeconomic imbalances, the European Commission said on Monday during the presentation of its 2022 European Semester Spring Package. “Overall, vulnerabilities are receding and are falling below ...

The 10-minute home loan – at the tap of a smartphone screen – is emerging as the next frontier in Australian banking as rising interest rates quash a pandemic-fuelled property boom, eating ...

Israel Discount Bank (DSCT.TA) reported a higher-than-expected rise in quarterly profit that was boosted by higher financing income and a one-time gain. Discount, Israel’s fourth-largest bank by assets, ...

The Bank of Cyprus plans to reduce the number of its branches by 25 per cent and workforce by 15 per cent this year. In numbers, this means 500 jobs will go and ...

The magnitude of the impact on the Cyprus economy from the war in Ukraine will depend on the duration of hostilities, and sanctions against Russia, Central Bank of Cyprus (CBC) ...

The Bank of Cyprus on Thursday announced that it recorded a profit after tax of €21 million during the first quarter of 2022, €13 million higher than the corresponding period of 2021. Moreover, it ...

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos on Tuesday afternoon engaged with the local fintech community, during an event on digital assets, entrepreneurship and financial technology. The ...

The positive year-over-year growth rate of the Cyprus Composite Leading Economic Index continues to slow down in April 2022. The index recorded a year-over-year increase of 2.4 per cent in April 2022, reaching ...

The Russian rouble weakened against the dollar on Wednesday but steadied not far from a five-year high against the euro, after losing the support of some capital controls and as ...

An affiliate of the company behind collapsed stablecoin TerraUSD on Monday said it had spent the bulk of its reserves trying to defend its dollar peg last week and would ...

The government and banks issue deceptive statements and statistics and the media blindly report them without question By Les Manison According to Reporters Without Borders, Cyprus ranks 69th on the “...

By Charalambos Sergiou, Alexandros Vacanas and Nikolas Stratis Blockchain technology is based on the establishment of a decentralised network of trust between unknown participants, facilitating peer-to-peer transactions in a cost-efficient ...

The euro edged off five-year lows to rise back above $1.04 on Friday, but it is headed for a big weekly loss after Russia’s decision to restrict gas supplies to ...

Finance Minister Constantinos Petrides on Thursday defended the government’s actions to deal with the recent rise in consumer prices, saying that the measures that have been taken so far ...

By Yiannis Seitanides A significant gap remains as to the way a reduction in staff can be achieved at Hellenic Bank, despite an agreement among stakeholders, including the bank’s ...

Cypriot banks were presented with bad checks worth a total of €438,000 in April, according to data released on Wednesday by the Central Bank of Cyprus (CBC). This is the largest ...

MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, on Wednesday announced that it has appointed Yannis Matsis as managing director and head of its office ...

Fitch Ratings on Tuesday said that the ratings of the Bank of Cyprus and Hellenic Bank have been kept on Positive Outlook in spite of the escalating global economic dangers ...

Fewer than a fifth of actively managed emerging market equity funds have cut their exposure to Russian stocks to zero, data from Copley Fund Research shows, with a number of ...

The bank employees union Etyk on Monday called on bank workers to strike over a proposal by Hellenic Bank to make half of its staff redundant as a former finance ...