Banking and Finance

The Beau Rivage Hotel in Larnaca has begun to be demolished, a process estimated to take somewhere between two and three months to be completed. As confirmed by NCH Managing ...

NatWest’s (NWG.L) profit tripled in the third quarter as Britain’s resurgent economy buoyed its finances, but its margins contracted in a sign of potentially tougher times ahead. ...

According to the Cyprus Statistical Service (Cystat), industrial production marked a year-on-year increase of 9.3 per cent in the period of January – August 2021. According to the Cystat data, the Industrial Production ...

Quant Insight (Qi), a new quantitative financial market analytics and trading insights provider, announced on Wednesday that it has opened its new headquarters in Limassol. The company also has offices ...

The total amount of non-performing loans (NPLs) decreased by approximately €8 million in July over the previous month. This has resulted in a reduction of the NPLs index to 17.4 per cent ...

Hellenic Bank has released new eco-friendly credit and debit cards made out of biodegradable material. Available since Monday, October 25, in Mastercard form, the new cards require 82 per cent less PVC (...

Eurozone banks tightened access to mortgages in the three months to September and expect to continue doing so in the final quarter of the year, a European Central Bank survey ...

Turkey’s state banks are expected to cut borrowing costs on loans by around 200 basis points on Monday, according to three people with knowledge of the plan, following last week’...

DBRS Morningstar credit rating agency has confirmed Cyprus’ long-term foreign and local currency – issuer ratings at BBB (low) and changed the trend to positive from stable. At the same time, ...

Finance Minister Constantinos Petrides said on Friday that the green transition will not be a painless process, highlighting the financial burdens it will likely incur on some sections of the ...

The Governor of the Central Bank of Cyprus Constantinos Herodotou said that financial literacy is a key element for a well-functioning economic system and thus a minimum requirement for sustainable ...

A record proportion of the British public thinks inflation will accelerate over the next 12 months, according to data that could further boost expectations that the Bank of England will raise ...

Barclays (BARC.L) reported on Thursday a doubling of third-quarter profits, beating market expectations, as it followed Wall Street rivals in reaping bumper investment banking fees from a surge in ...

British public borrowing fell by almost half in the first six months of the current financial year from a post-World War Two high a year earlier, when the economy faced ...

The Bank of England will be the first major central bank to raise interest rates in the post-pandemic cycle but economists polled by Reuters think the first hike will not ...

American credit rating agency S&P has released a report affirming RCB Bank with a rating of “BB-” with a stable outlook. RCB Bank’s long and short-term credit ...

British lawmakers have asked the Financial Conduct Authority why it took five years to prosecute NatWest (NWG.L) for failing to prevent the laundering of nearly 400 million pounds ($551.28 million), after ...

Bitcoin hovered below record levels on Wednesday, the day after the first US bitcoin futures-based exchange-traded fund (ETF) began trading, a development that market participants say is likely to drive ...

Digitisation gives banks the opportunity to come out of the pandemic even stronger The Covid-19 pandemic has accelerated technological transformation for businesses operating in all sectors of the economy. Organisations ...

The Cyprus Chamber of Commerce and Industry (CCCI), in collaboration with a number of economists, has prepared a study on the Cypriot economy and what policies can be implemented in ...

British Finance Minister Rishi Sunak is stepping up plans for an online sales tax, the Telegraph reported on Sunday. Treasury officials have accelerated work on a new e-commerce tax and ...

Evergrande Group’s (3333.HK) chief executive is holding talks in Hong Kong with investment banks and creditors over a possible restructuring and asset sales, two people said, as the Chinese ...

It was an email offering a discount on an electric toothbrush that began the sequence of events that ruined Anna’s life. Within minutes of entering her card details, she ...

By Andreas Charalambous and Omiros Pissarides Following the prolonged period of subdued inflation, discussions are currently focusing on the evolution of prices, given their serious effects on citizens’ everyday lives ...