NatWest outlook drags down shares despite profit leap
NatWest (NWG.L) warned on Friday that rising interest rates may not deliver the long-lasting earnings bonanza investors hope for, even though profit jumped by 33 per cent last year.
Shares ...
Understand what type of business finance is best for your company
Running a business requires making important decisions that can have far-reaching implications for your finances. You may be wondering what type of business finance is best for your company and ...
Cyprus Business Now
The Association for the Protection of Borrowers (Syprodat) this week said that the new government should engage in dialogue with Cypriot banks in order to resolve the issue of non-performing ...
The deep freeze over UK assets is thawing
Britain’s stocks and bonds are drawing strong buying interest, not quite a vote of confidence in the economy but a reassuring sign for policymakers that a deep investment freeze ...
Bank of Cyprus receives quality award from JP Morgan
The Bank of Cyprus on Wednesday announced that it recently received the Quality Recognition Award from global finance giant JP Morgan Chase Bank, in recognition of the bank’s excellence ...
Britain sets out legislation to regulate buy-now-pay-later credit
Britain on Tuesday will set out draft legislation to regulate “buy now pay later” credit, saying the sector posed potential harm to consumers without thorough affordability checks.
BNPL companies are ...
Russia added to non-cooperative tax jurisdictions list
The European Union on Tuesday announced that it had added the British Virgin Islands, Costa Rica, Marshall Islands and Russia to its list of non-cooperative jurisdictions for tax purposes.
This ...
Venezuelans say credit cards that were once lifeline now ‘useless’
Credit cards are becoming increasingly useless in Venezuela because of high inflation and government restrictions, hurting people already struggling to meet daily needs on low salaries, banking industry sources, analysts ...
Loans to Russian soldiers fuel calls for European banks to quit
A Russian scheme to grant loan payment holidays to troops fighting in Ukraine, and for banks to write off the entire debt if they are killed or maimed, has added ...
Cyprus Business Now
The presidents of the Institute of Chartered Accountants in England and Wales (ICAEW) and The Institute of Certified Public Accountants of Cyprus (ICPAC) on Friday announced that they have signed ...
JPMorgan CEO says too early to declare victory against inflation
The chief executive of JPMorgan Chase & Co. (JPM.N), the biggest US bank, cautioned against declaring victory against inflation too early, warning the Federal Reserve could raise interest rates ...
Britons face 20,000 digital pound cap under Bank of England plan
Britons would be limited to 20,000 digital pounds ($24,000) each if the country goes ahead with a digital currency, Bank of England Deputy Governor Jon Cunliffe said on Tuesday.
Britain’s government ...
British fintech Revolut to offer returns on crypto holdings via ‘staking’
Revolut is giving customers the chance to earn cryptocurrency rewards if they allow the lender to “stake” their coins to verify blockchain transactions, in a sign the digital bank is ...
Cyprus sees potential for deeper business relations with India
Cyprus and India can mutually benefit through a deeper and broader economic and business collaborative relationship, according to an analysis released this week by two executives from consulting and advisory ...
Fewer loans restructured in 2022, non-performing loan ratio steady
The total number of loan restructurings in Cyprus appears to have decelerated in 2022, after their sudden and sharp increase in 2021 due to the adverse economic effects of the coronavirus pandemic, ...
Cyprus Business Now
APS Group, one of the leading alternative asset management companies in Central, Eastern, and South-eastern Europe, on Tuesday announced that it has acquired a corporate and SME secured loan portfolio ...
Doing too little is still bigger risk for ECB than doing too much: Holzmann
Inflation in the euro area remains far too high so the risk of the European Central Bank not raising interest rates high enough is still a bigger than that of ...
Net new lending in Cyprus exceeded pre-pandemic levels in 2022
Net new lending in Cyprus stood at €3.23 billion in 2022, reflecting a 10 per cent increase compared to the previous year, despite the uncertainty created by the war in Ukraine, according to ...
Cyprus lending rates continue to rise
Lending rates in Cyprus rose again in December 2022, with deposit rates also moving higher amid the European Central Bank’s normalisation of key interest rates, according to a report released ...
Brokers team up on new platform to boost retail interest in UK capital markets
Investment firms and brokers in Britain teamed up on Thursday to back a new standalone retail platform to strengthen access for small investors to the UK capital market.
Investment bank ...
PayPal’s rocky road ahead warrants more cost cuts, Wall Street says
PayPal Holdings Inc (PYPL.O) will need to cut more costs with its payment volumes expected to shrink as customers batten down the hatches to prepare for a potential economic ...
Cypriot household debt 77 per cent of GDP, corporate debt ratio twice as high
The household debt ratio in Cyprus stood at 77 per cent of GDP at the end of the third quarter of 2022, marking a slight decrease compared to the previous quarter, according ...
Cypriot banking sector solvency index reaches 21.2 per cent
The overall solvency ratio of the Cypriot banking sector stood at 21.2 per cent at the end of September 2022, its highest level since the Central Bank of Cyprus (CBC) began collecting ...
Cyprus Business Now
The Cyprus Securities and Exchange Commission (CySEC) announced that there was an increase in the number of Management Companies and Undertakings of Collective Investments (UCIs) during the third quarter of 2022, ...