ECB slows rate hikes but pledges continued inflation fight
The European Central Bank raised interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, pledged further hikes and laid ...
Bank of England readies another rate hike even as recession hits
A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how ...
Barclays weighs Saudi re-entry amid capital markets boom
Barclays (BARC.L) is exploring a return to Saudi Arabia in a bid to capture a slice of the country’s burgeoning capital markets, two people close to the matter ...
Cyprus Business Now
The Cypriot banking system incurred losses after tax of €36 million, on a consolidated basis, in the first half of 2022, compared to profits of €22.54 million in the corresponding period of 2021, according ...
Central Bank holds event to promote financial literacy
The Central Bank of Cyprus (CBC) announced this week that it successfully held a one-day event in which it sought to bolster financial literacy awareness among secondary education teachers.
The ...
ECB highlights credit risk as priority concern
The European Central Bank’s Single Supervisory Mechanism (SSM) on Monday announced its intention to focus on credit risk provisions and, more broadly, new lending procedures, due to the deterioration ...
Hellenic Bank CEO cleared of any wrongdoing, returns to role
Hellenic Bank CEO Oliver Gatzke returned to his duties today following a recent decision by the bank’s board of directors after an investigation into allegations of statements and actions ...
Dollar gains as inflation pressures persist; eyes on central bank meetings
The dollar climbed on Monday after data on Friday showed US producer prices had risen more than expected last month, pointing to persistent inflationary pressures and a chance the Federal ...
Microsoft to buy 4 per cent stake in London Stock Exchange
Microsoft (MSFT.O) is to take a 4 per cent equity stake in London Stock Exchange Group (LSEG.L) as part of a 10-year commercial deal to migrate the exchange operator’...
AIFMs and gender equality: why should funds hire women executives?
By Maryna Chernenko
Women have become a considerable force in the financial world. According to BCG’s data, they are adding $5 trillion to the global wealth pool every year at ...
Improving customer experience crucial to banking sector success
Chief Banking Officer at Hellenic Bank Phivos Stasopoulos on Friday addressed the tenth Banking Forum and Fintech Expo, touching on a number of issues, including the challenges facing the banking ...
Cyprus Business Now
Governor of the Central Bank of Cyprus Constantinos Herodotou this week told the Bloomberg Global Regulatory Forum 2022, which was held in London on December 6, that any recession is expected to ...
Prudent credit risk policy needed amid deteriorating economic environment, says CBC Governor
The island’s central bank governor Constantinos Herodotou on Friday stressed the need for a prudent provisioning policy for bad loans in the midst of negative macroeconomic developments.
Herodotou made ...
Britain reforms finance to exploit Brexit and ‘turbocharge’ growth
Britain set out 30 measures to overhaul the financial sector on Friday, including a repeal of ‘burdensome’ EU rules the government says will unlock investment and maintain the City of London ...
Bank of England to add 50 bps to Bank Rate on Dec. 15; peak at 4.25 per cent in Q2
The Bank of England will add another 50 basis points to Bank Rate next week and take borrowing costs to 3.50 per cent, despite the economy falling into recession, as it battles ...
Fitch upgrades BoC citing NPE reduction, Cypriot economy resilience
Global ratings agency Fitch this week announced that it has upgraded the Bank of Cyprus’ Long-Term Issuer Default Rating (IDR) to ‘B+’ from ‘B-‘ and Viability Rating (VR) to ‘b+’ ...
Goldman Sachs on hunt for bargain crypto firms after FTX fiasco
Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened ...
ECB needs more rate hikes but inflation close to peak, chief economist says
The European Central Bank will have to raise interest rates several more times to tame price pressures, even if headline inflation is now close to its peak, ECB chief economist ...
Bank of England’s Dhingra warns of deeper and longer recession with higher rates
Bank of England rate-setter Swati Dhingra said in an interview published on Saturday that higher interest rates could lead to a deeper and longer recession, adding there were few signs ...
Global banks take axe to jobs as cost pressures mount
Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs.
Rising cost pressures as a result of inflation and shrinking ...
Cyprus government posts half a billion in surplus
Cyprus’ general government posted a surplus of €556.4 million for the period between January and October 2022, according to the preliminary financial results published this week by the Cyprus Statistical Service (Cystat).
...
Cyprus Business Now
Interest rates on deposits in Cyprus have experienced a slight increase, while interest rates for housing and consumer loans have decreased, according to a report published on Friday by the ...
Wargaming Group announces agreement to sell Hellenic Bank share to Eurobank
Wargaming Group Limited on Friday announced that on November 30 2022, it reached an agreement to sell a holding of 13.41 per cent (55,337,721 shares) in Hellenic Bank Public Company Limited (“Hellenic Bank”) to ...
NatWest lifts staff pay after cost of living backlash
NatWest (NWG.L) has offered the bulk of its 41,500 staff in Britain a pay rise and one-off cash sum to help them cope with soaring prices, after a backlash from ...