Cyprus-based EMED Mining Public Ltd (formerly Eastern Mediterranean Resources) has placed up to 20,850,000 new ordinary shares of 0.25 pence each at a price of 8.5 pence each with existing and new shareholders. The placing will raise GBP 1.7 mln from the directors, Oxiana Ltd., other existing shareholders and new institutional investors. Fox-Davies Capital was

Emirates’ launch of the Dubai–Hamburg–New York flight on Sunday received a rousing welcome at Hamburg Airport on the same day that the airline marked the launch of its five weekly flights to Tunis, eight to Indian IT-hub Bangalore, a third daily service to New York and a second daily service to Zurich. In all, 27 new

The Cyprus economy recorded a satisfactory growth in 2006 despite the increase in oil prices, according to the Ministry of Finance (MoF). A Ministry report pointed out that GDP growth rate in constant prices decreased marginally to 3.6% in 1H06 compared to 3.8% in the corresponding period of the previous year. Latest data confirm MoF’s

The Board of Directors of Liberty Life Insurance Pcl (LIB) approved the final proposal towards the shareholders of Aspis Pronoia Cyprus Insurance Company Ltd for the acquisition of 100% of the Company. The acquisition concerns 5,201,800 shares of Aspis of a nominal value of CYP 1 each to be acquired for either at a cash

The dollar had slipped to one-month troughs against the yen and the euro on Wednesday after the Institute for Supply Management’s index showed factory growth slowed to a three-year low in October, but by mid-day Thursday it was higher ahead of the ECB press conference and US data. The data extended a run of soft

Low-cost travel and cheap franchise pioneer Stelios Haji-Ioannou is looking for business partners to expand his easyHotel.com brand to Cyprus and 17-18 local hoteliers have already shown interest in the franchise. The company’s CEO, Lawrence Alexander, will be in Limassol on Monday, November 20, to introduce the franchise concept to prospective partners in a public