Cyprus may open tenders by the end of this year for the storage of natural gas as it attempts to switch to cleaner forms of energy, Commerce and Industry Minister Antonis Michaelides said ahead of a decision by the Cabinet on whether Cyprus will use floating or inland LNG storage facilities.Michaelides said the island would

The Annual General Meeting of Alliance International Reinsurance Public Company Limited, which took place on 31 May 2007in Limassol approved the payment of a final dividend of 7% on the nominal value of each share, thus CYP 0,007 (EUR0,012) for 2006, which, together with the interim dividend of CYP 0,007 (EUR0,012) paid in December 2006,

…Sharelink forecasts EUR 7.4 mln 2007E profit   Logicom Pcl (LOG), Cyprus’ leading IT company with an international presence is aiming to boost revenue by 35% and operating profits by 65% in 2007and at the same time improving the return on capital to 20%, while at the same time proceeding with a prudent expansion in

The main developments in transport and communications activity by value in the first quarter of 2007 were as follows. Land transport activity increased by 5.4% compared with the corresponding period of 2006. Water transport turnover value increased by 39.0% in the first quarter of 2007 compared with the corresponding quarter of 2006. Air transport increased

…annual sales of EUR 25 mln expected   Ermes Department Stores Public Ltd., a member company of the Shacolas Group, announced that it has concluded a final agreement with Sodexho Defence Services Ltd, U.K., for the exclusive management of the operations and supplies of all supermarkets and retail convenience shops operating in the British Bases

This week’s PandaLabs’ report focuses on the Bankey.A, BankFake.A, Ketawa.A and the Opticibot.A trojans and informs about Braban.F, a worm that spreads through MSN Messenger. BanKey.A and BankFake.A have similar characteristics. Both banker trojans display a spoof online banking screen and offer users the possibility of entering their bank details (account numbers, passwords,…). If users

ComputerLinks has acquired a 100% interest in the value added distributor and e-security company Fusion Distribution FZC based in Dubai. With the acquisition of Fusion Distribution FZC the Munich-based ComputerLinks Group has gained direct access to the Middle East, one of the fastest growing markets inthe world.The company, set up in August 2004, increased turnover

Ericsson has signed a five-year contract with Vodafone Netherlands for a managed services cooperation in the country. As of June 1, Ericsson takes over all engineering, implementation and operational activities in Vodafone Netherlands’ multivendor core and transport network. As a result, 97 Vodafone Netherlands employees will be transferred to Ericsson. The employees will be located

The Insurance Association of Cyprus announces the appointment of Stephie Dracou to the position of Director General of the Association, effective June 1, 2007. Commenting on the appointment, IAC chairman Philios Zachariades, said: “It is with great pleasure that I announce the appointment of Mrs Dracou to the position of director general of the Association.