Marios Karoyian new DIKO leader

Marios Karoyian was elected here Sunday new leader of the centre-right Democratic Party (DIKO), succeeding Cyprus President Tassos Papadopoulos who resigned from the post in August this year. Karoyian secured 4,759 votes

BOC stays out of Laiki dispute

Bank of Cyprus has decided not to submit proxies for its stake in Laiki Bank ahead of the EGM to be held on October 24, effectively distancing itself from the 50-70 disgruntled

Laiki to sue Lazarides for spreading lies

The Board of Directors of Laiki Bank Pcl (CPB) will sue former Chairman Kikis Lazarides for spreading lies and damaging information against the interests of Laiki shareholders and employees. Equally important are

EIB to loan EUR 100 mln for Cyprus sewage

The European Investment Bank (EIB) announced on Friday the first tranche of a 70 mln euro financing to support the continuation (Phase B) of the Limassol District Sewerage and Drainage Project.This is

Cyprus Central Bank keeps rates unchanged

The official interest rates of the Central Bank of Cyprus, that is the minimum bid rate on the main refinancing operations, the interest rate on the marginal lending facility and the interest

Ericsson to supply HSPA to Wataniya Kuwait

Ericsson has been selected to upgrade Wataniya’s network with full 3G/HSPA functionality that will boost the operator’s mobile broadband offering to end-user in Kuwait. Commercial launch has already started. Under the agreement,

Six worthless excuses to invest

Everyone knows the key to building wealth is through saving and investing. Yet last year, the U.S. Commerce Department’s Bureau of Economic Analysis revealed that Americans had a negative savings rate for