Banking and Finance

The Bank of Cyprus on Tuesday announced that it generated a €95 million after-tax profit for the first quarter of 2023, a significant improvement over the corresponding period of 2022, when it recorded ...

As talks over raising the US government’s $31.4 trillion debt ceiling intensify, Wall Street banks and asset managers have begun preparing for the fallout from a potential default. The financial ...

There was a 12.7 per cent decrease in the issuance of new building permits in Cyprus during the first two months of 2023, according to data released by the Cyprus Statistical Service (...

Banking regulators have been pushed by market volatility in recent weeks into doing things that they haven’t really wanted to do, like letting the largest US bank get even ...

Eurobank Cyprus on Monday announced a reduction of 0.50 per cent in mortgage interest rates with variable interest rates for borrowers who are up-to-date with their loan repayments. The bank stated ...

Below are the top business stories from Cyprus from the week starting May 8: The Deputy Minister of Shipping, Marina Hadjimanoli, emphasised the importance of competitiveness, resilience, and anticipation of new ...

The Bank of Cyprus on Friday announced that it is now offering a 25-year fixed interest rate for its mortgage customers. According to the statement, this new option aims to ...

By Maria Demertzis It is now 14 months since the Russian invasion of Ukraine and based on the Kiel Institute Ukraine support tracker, EU countries have so far provided close to €62 ...

European Central Bank supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performers, the European Court of Auditors (ECA) ...

In times of crisis, identifying and taking advantage of opportunities is crucial for economic growth, the president of the Cyprus Investment Funds Association (CIFA), Andreas Yiasemides, said on Thursday. Yiasemides ...

The governor of the Central Bank of Cyprus, Constantinos Herodotou, expressed optimism that with appropriate actions, prudence, and rationality, the country’s economy and banking system can successfully manage the ...

The employees of two Cypriot firms which were recently sanctioned by the UK, on Thursday sent an open letter decrying the effects that the freezing of these companies’ accounts has ...

It wasn’t the March 10 collapse of Silicon Valley Bank that prompted Carissa Rodeheaver, head of a community bank tucked in the mountains of western Maryland, to rethink strategy. That ...

PwC Cyprus on Wednesday announced that it once again recognised the excellence of its trainee accountants, rewarding their significant distinctions in international exams by the Association of Chartered Certified Accountants (...

PayPal Holdings’ (PYPL.O) stock slumped 12 per cent on Tuesday, on track for its lowest close in almost six years, after the payments company cut the outlook for its annual ...

Hellenic Bank on Wednesday released a statement summarising its presence at the annual Nicosia Economic Congress, which took place the day before, including its strategy and plans for the future. ...

Some of Britain’s top finance executives, fearful London is losing out to New York and rival European cities, are pressing the government to broaden an array of reforms aimed ...

Alpha Bank Cyprus on Tuesday announced a new deposit interest rate for private accounts over €50,000 that reaches up to 2.10 per cent. In their official announcement, the bank stated that private ...

Central Bank of Cyprus governor Constantinos Herodotou on Tuesday addressed the annual Nicosia Economic Congress, providing analysis and commentary on the country’s economy, both for the previous year, as ...

Interest rates for housing loans increased by 1.25 per cent in March 2023, compared to February 2023, according to the most recent data published by the Central Bank of Cyprus (CBC). The rise ...

New loans in Cyprus increased in March 2023, reaching a total of €922.5 million, up from €527.5 million in the previous month, according to data released by the Central Bank of Cyprus (CBC). ...

The dollar began the week under pressure on Monday, with traders betting it might have peaked along with US interest rates, and selling it against peers that seem to have ...

The International Monetary Fund, in its Spring World Economic Outlook, released last month, provides an assessment of the global economy over the medium term, revised forecasts, and discusses underlying risks ...

Warren Buffett’s Berkshire Hathaway Inc BRKa.N posted a $35.5 billion first-quarter profit on Saturday, reflecting gains from stocks such as Apple Inc, while higher investment income and a rebound ...