Europe’s initial public offering (IPO) market has suffered its worst ever quarter with 18 listings in the three months up to March 31 raising just EUR 9 mln, according to PricewaterhouseCoopers’ latest IPO Watch Europe survey. The survey shows that volumes and values were massively down on the first quarter of 2008 which saw 72
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Government spokesman Stephanos Stephanou met with the Director of the European Newspaper Publishers' Association, Valtteri Niiranen, with whom he discussed the consequences of the global financial crisis on the media and especially the printed press. Stephanou said that the meeting was very useful, noting that he got a good picture about the workings of the
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The world's top cellphone maker Nokia calmed jittery investors on Thursday by reaffirming its forecast for the handset market and saying visibility was improving, sending its shares higher. January-March sales fell 27 percent as the economic downturn sapped demand for new phones, with the firm reporting a historic 12-million-euro ($15.79 million) loss before taxes, its
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By Sitaraman Shankar Rising commodity prices and poor demand are squeezing margins at chemical companies, airlines and auto makers but the hope of a general return to inflation will support their shares in the short term. Inflation stemming from an economic recovery would allow the companies to lift prices of their products, giving some relief
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Cyprus hosts between 90,000 to 150,000 rounds of golf a year in its three main golf courses, according to Trade and Tourism Minister Antonis Paschalides, who added that about 60,000 of those games played are tourists. Responding to questions posed by Greens MP Yiorgos Perdikis, the minister said that the golf courses attract high-income tourists
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JPMorgan Chase & Co reported better-than-expected first-quarter profit on Thursday, as improved investment banking performance offset an increase in losses from credit cards and other consumer debt. The results come as a deepening recession and rising unemployment forced the bank to set aside more money against losses in its consumer banking business. Its shares fell
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Property developers believe that the market is enjoying a mild recovery and demand is growing among locals for apartments and houses in Nicosia, holiday homes in Protaras and Ayia Napa and houses and apartments in Limassol, mostly from Cypriots and Russians. George Mouskides, president of the newly-established Association of Property Developers and director of the
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Armenia said on Thursday it was close to establishing diplomatic relations with neighbouring Turkey after a century of hostility. High-level negotiations between the two countries began last year and expectations are rising of a deal that could include Turkey opening its border with Armenia. Turkey hopes a deal on Armenia will improve its chances of
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The Cyprus American Business Association (CyABA) and the U.S. Embassy in Nicosia cosponsored a workshop and round table discussion last Thursday on Intellectual Property Rights (IPR) enforcement in Cyprus. The event was held at the Cyprus Chamber of Commerce and Industry (KEVE) building in Nicosia, with the participation of US Ambassador Frank C. Urbancic, Registrar
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Cyprus GDP in the first quarter of 2009, at current prices, is expected to drop 9.43% to €3.55 bln compared to €3.92 bln in the first quarter of 2007, according to the statistical model developed by the School of Business of the University of Nicosia Macroeconomic Forecasting Group. Regarding the second quarter of 2009, GDP
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