Mayor of the Turkish occupied town of Famagusta Alexis Galanos has sent a letter to EU Εnlargement Commissioner, Oli Rhen, informing him about the outcome of a campaign to collect signatures, as part of efforts to have Famagusta returned to its lawful citizens. Galanos informs the Commissioner about the collection of approximately 26,000 signatures, pointing
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The Central Bank of Cyprus announced that during the auction conducted on 10 May 2007 for the acceptance of deposits of 14-day duration, bids amounting to CYP40,0 million were submitted, and an amount of CYP40,0 million was absorbed at a weighted average allotment rate of 3.29%. Â
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The Commission adopted a communication on “Promoting solidarity between the generations” to help Member States meet the demographic challenge. The Communication examines how Europeans can achieve a better work-life balance. It also looks at how best to support families so they can have the number of children they desire – very low birth rates are
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The Cyprus trade deficit in the first two months of 2007 widened to CYP 402.1 mln compared with CYP 369.0 mln in January-February 2006. Total imports/arrivals (covering total imports from third countries and arrivals from other Member States) in January-February 2007 amounted to CYP 512.0 mln, compared with CYP 485.7 mln in January-February 2006. Total
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The CSE Council in agreement with the SEC decided to delist the securities of “Phinikas Ammochostou Investment Public Company Ltd†due to the Company’s failure to maintain the required rate of dispersion of the Investment Companies Market, in which it was listed. The CSE Council also took into account the fact that according to the
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The CSE Council announced that it has accepted the listing of 175,000,000 shares and 35,000,000 warrants 2007/2011 of “Ermes Department Stores Public Ltd†in the CSE Parallel Market. Trading will commence on Friday, May 18, 2007 and the CSE will undertake the observance of the above Registers in the Central Depository. The English code of
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Aspis Pronoia AEGA and Commercial Value SA announced that with respect to their public offer seeking a minimum 20% and a maximum 50% plus 1 share of the share capital of Universal Bank Public (USB), two days prior to the expiry of the Competitive and Revised Public Offer, the combined stake in the Bank is
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Citigroup has increased its price target on Bank of Cyprus (CSE:BOCY) to EUR 16.00 per share from EUR 15.50 previously and is currently the highest price target issued by an investment group. The Citigroup target implies a 35.6% expected share price return, which when combined with the expected 3.5% dividend return, gives a combined 39.1%
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European Union Commissioner for economic and monetary affairs Joaquin Almunia is to propose Cyprus’ entry into the eurozone at next week’s Commission meeting.Almunia’s suggestion was discussed on Thursday at a special meeting of EU technocrats and today senior officials were due to meet to prepare next Wednesday’s meeting in Brussels.The Commission draft proposal to the
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Cyprus President Tassos Papadopoulos has praised the economic growth in Cyprus, saying that stability has been achieved through a carefully balanced plan, long strategy and the contribution of the social partners, who displayed self restraint in their demands.He also said that the introduction of the euro, expected in January 2008, will not restrict economic development
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