Three major nations absent as China launches World Bank rival in Asia
October 24th, 2014
Australia, Indonesia and South Korea skipped the launch of a China-backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders. China’s $50 billion Asian Infrastructure Investment Bank ...
Skill set needed to make Cyprus a Strong Fund Jurisdiction
October 23rd, 2014
Despite the current financial crisis and recession that we are experiencing, one industry that stands out, is resilient, and is growing is the Financial Services. Despite the reputational damage that we suffered following the events of March 2013, many ...
Dr. George Theocharides
October 23rd, 2014
George Theocharides is an Associate Professor of Finance at Cyprus International Institute of Management (CIIM) in Nicosia, Cyprus. He is also the Programme Director of the MSc in Financial Services and Certificate in Financial Services. He joined the school ...
Keystone Law sells £3.15m stake to private equity house
October 23rd, 2014
Dispersed firm Keystone Law has received a £3.15m cash injection from private equity house Root Capital in return for a 35 per cent stake in the firm’s shares. Root was founded by investor Simon Phillips in 2003. The funds ...
Credit Suisse Profit More Than Doubles as Trading Rises
October 23rd, 2014
Credit Suisse Group AG (CSGN), Switzerland’s second-biggest bank, reported an increase in third-quarter profit driven by a surge in revenue at the investment bank, while earnings in other businesses fell. The group’s net income jumped to 1.03 billion Swiss ...
CySec: acquisition of Administrative Services Providers (ASP) licence
October 23rd, 2014
The Cyprus Securities and Exchange Commission (CySec), the Cypriot financial regulatory authority, has announced that the following firms have successfully obtained the CySec licence to operate as Administrative Services Provider (ASP): RCB Trustees (Cyprus) Limited Crendaro Investments Limited The ...
Islamic Bank of Britain changes name to Al Rayan Bank
October 23rd, 2014
Islamic Bank of Britain plc (IBB) today announced that, subject to formal shareholder approval, it plans to change its name to Al Rayan Bank PLC. The change will be completed in December 2014. The rebrand follows IBB’s acquisition, earlier ...
Tesco share price falls again: Chairman Sir Richard Broadbent steps down
October 23rd, 2014
It has been a tough few weeks for Tesco, but just how tough was revealed in first-half results posted this morning, which showed statutory profit before tax, which includes one-off items, collapsed by 91.9 per cent to £122m in ...
RBA Keeping Close Eye on Lending Standards
October 23rd, 2014
Australia’s central bank is keeping a close eye on the build up of credits to housing investors and is still talking to the financial regulator over what can be done to tighten lending standards, the head of the Reserve ...
Bank of Canada maintains overnight rate target at 1 per cent
October 22nd, 2014
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Inflation in ...
