Banking and Finance

Bank of England Governor Andrew Bailey said on Wednesday that the central bank “will do what it takes” to get inflation down to its 2 per cent target, adding that he ...

The rapid adoption of artificial intelligence could reduce wages, but so far is creating, not destroying jobs, especially for the young and highly-skilled, research published by the European Central Bank ...

The Central Bank of Cyprus on Tuesday released its Monetary Financial Institutions (MFIs) deposits and loans statistics for October 2023, revealing a decrease in both deposits and loans during this period. ...

CBC governor Constantinos Herodotou on Tuesday underscored the evolving European economy’s nuances and the impacts of prevailing monetary policies, during a conference hosted by the Central Bank of Cyprus ...

A top UK central banker on Tuesday emphasised that monetary policy would need to be “restrictive” for some time to defeat inflation, a message echoed by fellow policymakers from Australia ...

Scope, Europe’s first ECB-approved credit ratings agency, promises to put more weight on the euro zone’s improved ability to navigate crises although it has concerns about Italy and ...

Despite making easy money, Cyprus banks not helping economy and society By Les Manison Cyprus banks have benefitted considerably from the higher interest rate policies of the ECB since mid-2022, ...

Alpha Bank Cyprus on Friday announced that it expanded its product range by offering a new deposit interest rate of 2.75 per cent annually for deposits exceeding €100,000. According to the announcement, ...

The state-owned Housing Finance Corporation (HFC) will be able to buy performing loans and sell its non-performing loans like any other bank, under a law passed by the House on ...

The European Commission this week projected a significant 30 per cent decrease in Cyprus’ public debt, as a percentage of its Gross Domestic Product (GDP), by the end of 2024. This projection ...

Scope Ratings, a German rating agency, this week upgraded the long-term rating of the Republic of Cyprus from BBB to BBB+, maintaining a stable outlook for the Cypriot economy. This ...

The ability of Cypriot banks to reduce operating costs while investing in digital transformation will be key to offsetting inflationary pressure and still-high credit provisions, rating agency Standard and Poor’...

The British Business Bank (BBB) will set up a new fund for pension schemes and asset managers to invest in growth companies, part of wider reforms to unlock savers’ cash ...

Here are the top business stories in Cyprus from the week starting November 13: Port management company DP World Limassol on Wednesday announced that Limassol port saw record cruise ship calls ...

The third quarter of 2023 saw a significant decline in the assets of investment organisations in Cyprus, despite a rise in their numbers, according to a report released on Friday by ...

As financial services evolve, two terms have increasingly become the focal point of discussion and innovation: open banking and open finance. These concepts, though related, offer distinct advantages and have ...

The Cyprus Investment Funds Association (CIFA) on Friday expressed its commendation for the recent approval by the Cabinet of a draft law regarding the establishment and operation of Fund Managers ...

The head of the International Monetary Fund has urged countries to make a more proactive push to develop central bank digital currencies (CBDC). Eleven countries, including a number in the ...

One of the best ways to forego the outrageous 400%+ APRs charged by traditional payday cash advances is using loan apps like Dave, MoneyLion, SoLo, and Brigit. They offer many benefits, ...

Endeavouring to support its customers through the current challenging financial pressures, Hellenic Bank has introduced an array of new measures aimed at easing its customers’ obligations, while facilitating their banking ...

The Cabinet has greenlit a pivotal legislative draft titled ‘The Establishment and Operation of Collective Investment Organisation Management Companies Law of 2023’, which aims to regulate the operations of Fund Managers ...

The Bank of Cyprus is set to complete its Minimum Requirement for Own Funds and Eligible Liabilities (MREL) target one year earlier than expected, signalling progress towards sustainable profitability, as ...

Greece on Monday announced plans to sell a 20 per cent stake in National Bank of Greece (NBG) after concluding the sale of a 9 per cent stake in Alpha Bank to ...

Greece’s state-controlled bank bailout fund HFSF said on Monday it sold its 9 per cent stake in Alpha Bank (ACBr.AT) to UniCredit for 293.5 million euros ($314 million) after an improved ...