Erdogan: ‘We must reduce interest rates;’ Turkish lira at 10.50 to euro
The Turkish lira hit record lows against the euro and the dollar as Turkish President Recep Tayyip Erdogan told the press on Tuesday that interest rates must be cut.
The ...
Cyprus 4.0: Bank of Cyprus forges ahead with ESG policy and products
“Bank of Cyprus has already covered considerable distance in our ESG journey. We have an ‘A’ rating from MSCI, which is the global benchmark on ESG. The company has also ...
Cyprus 4.0: Cyprus pension funds embrace ESG
“Most clients would consider ESG investments only if such investments are expected to enhance returns. There are organisations, of course, that are willing to take on ESG investments even if ...
Credit Suisse scandals prompt Switzerland to think unthinkable: punish bankers
Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable.
Credit Suisse’s heavy losses from ...
Tunisia, close to economic collapse, suffers political chaos
Tunisian politicians and officials warn of an economic collapse if the government cannot agree a new International Monetary Fund (IMF) loan this summer, but political paralysis could scotch that effort.
...
Cyprus’ Tus Airways sells 49.9% stake to Israel’s Global Knafaim
Israel’s Global Knafaim said on Thursday it bought a 49.9 per cent stake in the small Cypriot airline Tus Airways with a $5 million investment.
Global Knafaim is a unit of ...
Cryptos turn choppy as bounce momentum ebbs
Cryptocurrencies slipped on Thursday, though without falling through recent lows, as traders clung to hopes that a nascent recovery from last week’s plunge can regain its momentum.
Bitcoin has ...
Turkish lira, at 10.32 to euro, is under extreme stress
The Turkish lira, at 10.32 to the euro, 8.44 to the dollar at this writing, is under extreme stress, according to analysts.
The currency is perilously close to its record low of 10.50 ...
Euro on the rise; dollar on the fritz
The fundamentals for the dollar remain bearish, analysts say.
The euro is up 4 per cent against the dollar, the Brazilian real has risen 6 per cent and the Chinese yuan by ...
Cyprus stock exchange privatisation moves forward — Chairman
“Privatisation is coming soon to the Cyprus Stock Exchange (CSE),” Chairman Marinos Christodoulides told the Cyprus Mail in a note.
“Hopefully, a foreign stock exchange will be the new shareholder ...
Cyprus receives €124m in SURE loans
The European Commission has loaned Cyprus €124 million under the Support to mitigate Unemployment Risks in an Emergency (SURE) Programme, the Commission said in a press release on Tuesday.
The funds ...
Bank of Cyprus sees first quarter revenue of €136m, operating profit of €45m
Bank of Cyprus announced first quarter revenue of €136 million, and operating profit of €45 million, the bank said in a statement on Tuesday.
Profit after tax was €8 million. But organic profit (...
Turkish mob boss releases 7th scandal video, alleges northern Cyprus connection
Turkish organised crime boss Sedat Peker on Sunday released his seventh video in a scandalous series about government and organised crime that has garnered 70 million viewers, according to Social Blade.
...
HSBC CEO says Bitcoin not for us
HSBC has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers, because they are too volatile and lack transparency, its Chief ...
G7 close to deal on corporate taxation
The Group of Seven top advanced economies are close to an accord on the corporate taxation of multinationals, paving the way for a global deal later in the year creating ...
Musk says he likes crypto despite everything
Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk tweeted on Saturday that in a battle between fiat and cryptocurrencies, his support is with crypto.
Two days ago, Musk assured ...
Invest in the booming US? Strong euro says ‘stay home’
“I’ve never seen an economy that feels as good as the US today,” Mark Zandi, chief economist at Moody’s Analytics, told CNN Business. “The economy is booming. It’...
Lebanon’s politicians to face sanctions from EU for negligence
France, with the support of the EU Commission, is preparing sanctions against Lebanese politicians, intended to target their unwillingness to form a government despite the country’s nearly complete collapse.
...
IMF seeks to ‘end pandemic’ with $50bn financing for vaccinations
The International Monetary Fund (IMF) has published a proposal to “end the pandemic” with $50 billion in financing for vaccinations, the organisation said in an note on Friday.
The proposal’s ...
Bank of England aims for greener corporate bond portfolio
The Bank of England set out plans on Friday to make its 20 billion pounds ($28.4 billion) of holdings of sterling corporate bonds better aligned with government goals to achieve net zero ...
Government should withdraw support schemes – Central Bank of Cyprus
The government should begin gradually withdrawing the support schemes it has promulgated during the pandemic crisis, the Central Bank of Cyprus said in its Annual Report and Financial Stability Report.
...
Bundesliga moves to keep out private investors, avoid their influence
Germany’s top-flight soccer league has scrapped plans to sell a 25 per cent stake in its overseas broadcasting rights after resistance from Bundesliga clubs concerned about private equity firms meddling ...
Cyprus office real estate market to decline 10-15% on work from home
By Pavlos Loizou, managing director, WiRE
The Cyprus market for office space is expected to decline 10 per cent to 15 per cent as companies adopt the remote working model, Pavlos Loizou, ...
Hellenic ranked among top banks globally
Hellenic Bank has been ranked by Global Finance magazine among the top banks in the world because they managed to rapidly and effectively adapt to the new circumstances created by ...