Banking and Finance

The transformation of banks’ business model towards digitalisation and their profitability enhancement by rationalising their cost structure, while closely monitoring the underlying risks of this transformation, are the main banking ...

By Ioannis Tirkides Occasionally, events unfold in close proximity that can be described as seminal. We call them seminal because of their significant impact. They mark a change in the ...

Finance Minister Constantinos Petrides on Friday welcomed the European Commission’s forecasts for the Cypriot economy, viewing them as a validation of the country’s recovery and future prospects. In ...

Quant Insight (Qi), a Limassol-based quantitative financial market analytics and trading insights provider, on Wednesday announced the launch of a new product, aiming to provide individual traders with high-end analytics. ...

The Cyprus Chamber of Commerce and Industry (Keve) announced on Wednesday that they are spearheading Cyprus’ representation at the International Agricultural and Environmental Exhibition in Doha, Qatar, scheduled to commence ...

MPs have taken the initiative and will be drafting legislation governing bank fees charged to account holders after the government said there was not much it could do about it. ...

The surprise split vote behind the Bank of England’s interest rate hike last week, which was too small for almost half its officials, threatens to obscure the British central ...

The euro was on track on Friday for its best week versus the dollar since the COVID-19 pandemic hit, after a hawkish turn by the European Central Bank (ECB) sent ...

Faced with deal fees in the Gulf region a fraction of those in markets elsewhere, many Dubai bankers are handing in their notices, attracted by the lure of cashing out, ...

The total purchases of Cypriot bonds by the European Central Bank (ECB) amounted to €6.56 billion, under the Public Sector Purchasing Programme (PSPP) and the Pandemic Emergency Purchase Programme (PEPP). According ...

The Bank of England raised interest rates to 0.5 per cent on Thursday and nearly half of its policymakers wanted a bigger increase to contain rampant price pressures, as the central ...

Turkey’s central bank said on Thursday it had decided to pay advance dividends from its 2021 accounting period and distribute its reserve fund from 2020 profits to shareholders, including the Treasury. ...

Shares rose in Europe on Wednesday as investor sentiment continued to steady after a rout last month, but the advance was capped by concerns over how fast central banks will ...

Limassol port management company DP World Limassol welcomed the world’s biggest cruise ship on Monday, Royal Caribbean International’s Wonder of the Seas. “It is with great pleasure that ...

The Cyprus Securities and Exchange Commission (CySEC) will further bolster its supervisory framework in a bid to go along with technological developments in the market, CySEC chairman George Theocharides said ...

The Cyprus Stock Exchange (CSE) and Swiss Exchange (SIX) signed an agreement on Monday for the establishment of the post-trade infrastructure necessary to facilitate the dual-listing of Cyprus‘ Euro medium-term ...

High levels of private debt continue to stifle the growth of Cypriot banks, increasing fiscal vulnerability and negatively impacting credit availability, ratings agency Moody’s said on Monday. The agency’...

The Cyprus Economic Society (CES) will be hosting its annual economy panel on Thursday, with the online event delving into Cyprus’ economic outlook and prospects. Among the speakers are Bank ...

Record euro area inflation rates mean price pressures will top the agenda for European Central Bank policymakers meeting on Thursday. No immediate policy action is expected since the ECB in ...

Russian authorities have drawn up a ‘road map’ that envisages restrictions on cryptocurrencies but not a complete ban on trading and mining as advocated by the central bank, a document ...

The Cyprus Deputy Ministry of Shipping announced on Friday the expiration of the deadline for the submission of tenders to establish a passenger maritime link between Cyprus and Greece, as ...

By Zenon Papaphilippou As the Investment Funds Industry in Cyprus continues to prolifically expand and record growth, the responsibility for high standards of ethical professionalism becomes more pertinent than ever ...

Replenished firepower and higher interest rates will give Europe’s banks an ideal opportunity this year to reverse recent underperformance and claw back market share from rivals in the United ...

Total non-performing loans (NPLs) decreased by €32 million at the end of October 2021, compared to the previous month, when total loans increased by €14 million to € 27.91 billion. According to data released on ...