Finance

Argentina will pay for Chinese imports in yuan instead of U.S. dollars in order to preserve its dwindling foreign reserves, Economy Minister Sergio Massa has said.    

Mature Greek startups have taken on the role of buyer or investor in order to either enter new markets, strengthen their team (acqui-hiring) or add new technologies - a trend that has only recently expanded.

S&P Global Ratings (S&P) has revised the outlook for Bank of Cyprus to positive from stable, citing the easing of funding risks, a diversified business model and substantial progress in de-risking its balance sheet.

Standard & Poor's on Tuesday raised the outlook of credit ratings of Greek banks, citing significant progress achieved by the financial institutions.

Americans are finally reaping some benefit from keeping their money in the bank.

Banks are paying up for savers' deposits in a much bigger way than they have in more than a decade, based on recent earnings reports from the nation's biggest banks.

The process of raising interest rates in Bulgaria will accelerate in the coming months, the BNB predicts in the traditional publication "Banks in Bulgaria". The Central Bank warns that there are prerequisites for the accumulation of risk in the balance sheet of the banking system.

The shareholders of Thrivest, which will participate with 30 million euros in the Attica Bank capital increase by acquiring, in this phase, 4.93% of its share capital, aim to create a single bank.

"1.8% - this is the optimistic option for the growth of the economy. The Bulgarian National Bank, for example, predicts 0.4% growth. This is a positive realistic option. There are also options with a recession, which are even more frightening.

More than $68 billion was withdrawn from Credit Suisse in the first three months of 2023, the bank said Monday in what are likely its final quarterly results before it is swallowed by rival UBS.    

Switzerland's long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone.    

American business magnate Warren Buffett predicts new bankruptcies of American banks. Economists at the International Monetary Fund (IMF) speak of superficial stability with turmoil already manifesting below the surface.