Banking and Finance

Western allies’ sanctions against Russia have started to blowback in the form of large potential losses for their own banks, companies and investors, often in unexpected ways. In the past, ...

Two of the Big Four accounting firms KPMG and PricewaterhouseCoopers LLP (PwC) on Sunday said they will no longer have a member firm in Russia due to the country’s ...

The euro tumbled to a fresh 22-month low on the dollar while commodity currencies were swept to multi-month peaks as war in Ukraine sent oil prices spiking and stoked fears ...

Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw. Sanctions placed ...

Cryptocurrencies have been close to the headlines since Russia invaded Ukraine, with the ever-volatile bitcoin in demand in Russia and beyond. Here are some charts that look at how cryptocurrencies ...

Credit rating agency Standard and Poor’s affirmed Cyprus’ long-term credit rating at BBB-, while maintaining a positive outlook, stressing that despite the Ukrainian crisis and economic sanctions against Russia, ...

The vice president of the European Investment Bank (EIB), Liliana Pavlova, visited the University of Cyprus this week in order to review the activities and funded projects of the EIB ...

So far global companies, banks and investors have announced that they have exposure in some form to Russia of more than $110 billion. That number could rise. Data from research firm ...

The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 0.06 per cent, compared to December 2021, according to Cyprus Central Bank. At ...

The European Union is considering excluding banks in Belarus from the SWIFT messaging system that underpins the global financial transactions, as it has already done for seven Russian banks, an ...

The Russian rouble slid further on Thursday, hitting record lows against the dollar and euro, after ratings agencies Fitch and Moody’s downgraded Russia’s sovereign debt to “junk” status ...

The Moscow branch of a Chinese state bank has seen a surge in enquiries from Russian firms wanting to open new accounts, a person familiar with the matter said, as ...

With much of Moscow’s $640 billion reserves under lock and key in the West and sanctions crippling cross-border capital flows, investors fear Russia may be heading for its first ever ...

The economic sanctions imposed against Russia following its invasion of Ukraine are not affecting Cyprus to a large extent as the island’s banking system has no exposure to Russia, ...

Russia said on Tuesday it was placing temporary restrictions on foreigners seeking to exit Russia assets, as it tried to stem an investor retreat driven by crippling Western sanctions imposed ...

The latest wave of sanctions on Russia over its Ukraine invasion has thrown the global banking industry deeper into turmoil, as Western countries try to squeeze Moscow’s access to ...

The rouble weakened past 100 to the dollar on Wednesday, heading back to record lows, and the stock market remained closed as Russia’s financial system staggered under the weight of ...

Russia’s largest lender Sberbank SBER.MM said on Wednesday it was quitting almost all European markets, blaming big cash outflows and threats to its staff and property following Russia’...

Cyprus-based financial technology company SquaredFinancial announced on Tuesday that it will be the first organisation to utilise iQbyQi, an advanced retail trading analytics tool. “SquaredFinancial, the fintech brokerage headquartered in ...

Bitcoin has leapt since Russia’s invasion of Ukraine, bolstered by people in those countries looking to store and move money in anonymous and decentralised crypto. Bitcoin trading denominated in ...

By Marilena Evangelou & Yiannis Seitanidis The imposition of severe economic sanctions in Russia has made the daily life of those Cypriots who are in the country for work or ...

Crypto exchange Binance is blocking the accounts of any Russian clients targeted by sanctions, it told Reuters on Monday, but will not freeze the accounts of others after Ukraine called ...

Cyprus’ government deficit fell to €409.1 million or 1.8 per cent of GDP in 2021 in 2021, primarily due to the impressive 16 per cent increase in revenues, according to a preliminary report released by ...

Cyprus has been named in an internal lending scam and money laundering scandal involving Ukrainian lender Privatbank, nationalised in 2016. In a case filed with the District Court, Southern District of ...