Banking and Finance

Cyprus Business Now

An estimated 3.6 million unemployed people in the European Union found employment in the fourth quarter of 2021, according to data released on Wednesday by Eurostat, the EU’s statistical service. This figure is about 24.6 per cent of all those registered as unemployed in the third quarter of 2021. A… Cyprus Mail …


Turkish Statistical Institute accused of manipulating inflation data

A former official has accused the Turkish Statistical Institute (Turkstat) of manipulating inflation data, Ahval reported on Wednesday. Turkey’s last inflation report in July was at 18.95 per cent. This is just below the level of key interest rate at 19 per cent. The governor of the central bank, Sahap… Cyprus Mail …


Brexit issues, yet ongoing, are blamed on EU by UK

Britain’s top EU adviser David Frost on Sunday defended Britain’s unilateral move to smooth post-Brexit trade between Britain and Northern Ireland, over which the EU has promised to launch legal action for breaching the terms of the Brexit deal. Writing in the Sunday Telegraph, Frost said that The European Union… Cyprus Mail …


CySEC launches Brexit Information Hub

The Cyprus Securities and Exchange Commission (‘CySEC’), the financial regulatory Authority of Cyprus, has launched a dedicated section on its website to serve as a Brexit Information Hub (accessible here), aiming at facilitating a seamless navigation of Brexit related information and the compliance of interested parties with legal obligations following… Cyprus Mail …



Turkish banks downgraded by Fitch to negative

  Fitch Ratings downgraded 20 Turkish banks to ratings below investment grade on Wednesday, citing the depletion of the central bank’s reserves as a contributing factor, and recognising the “deterioration of the Turkish economy.” Fitch downgraded the long-term outlook in foreign and domestic currency of two Turkish state-owned banks to… Cyprus Mail …