The positive effects of the aggressive action taken by the U.S. Federal Reserve and governments around the world is seen rubbing off on equity markets from the second half of 2009 and onwards, according to Henk Potts, Barclays Wealth Equity Analyst. Speaking at a joint investment presentation organized by the CFA Society of Cyprus and
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The Cyprus Institute (CyI) and IBM announced that they will pursue collaborative research in the areas of computational sciences and high performance computing. The research agenda will include multi-scale simulations of materials for environmental technologies and green data center design; data analysis of complex, massive data from physical sciences; and high performance computing in financial
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. BY PANAYIOTIS KYRIACOU Business Consultant MIEE, MBA, ACIMC The months to come will be quite promising in terms of economic challenges that Cyprus businesses will face. Such issues need to be addressed sharply with decisiveness but not necessarily in a rush. The follwoing simple but effective guidelines can help a business overcome the downtrend
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. BY GEORGE MOUSKIDES Because of the crisis in the property sector, there has been an increase in the last few months in the number of calls for a reduction of various taxes that burden property, that in Cyprus are among the highest in Europe. Apart from the VAT, we have the transfer fees of
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The Cyprus International Institute of Management (CIIM) is organising open days on March 4 in Nicosia, at CIIM in Aglandjia, and in Limassol at the CIIM premises above the central Starbucks Café next to the Limassol Courts to brief prospective students about the MBA and MPSM programmes. On March 5 in Pafos, CIIM will be
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The mission of www.cyprusbusinesswomen.com aims to generate global awareness for women in business in Cyprus, promoting business opportunities, including a directory of women in business, which is free to register. The aim is to create a comprehensive database of women running businesses or working for themselves in a wide range of occupations. “We believed there
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Cypriot retailing giant Ermes Department Stores (ERME.CY) posted a 7.4% increase in 2008 full-year net profit to EUR10.38 mln, the company said, as it opened new outlets across the island. The group, which runs the Debenhams chain of stores in Cyprus and British high street brands like Next, Oasis and Peacocks, said total turnover rose
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Hellenic Bank Public Company Ltd (HB.CY) released its FY08 preliminary financial results, posting a 75% year on year decline in net profit attributable to shareholders to EUR 33.97 mln compared to FY07 profit of EUR 133 mln, while in the fourth quarter, the Bank reported a loss of EUR 28 mln. Nevertheless, the Bank declared
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Marfin Popular Bank (CPB) posted a 30% decline in its 2008 net profits to EUR394.6 mln from EUR 563.4 mln in FY07, with the decline blamed on reduced exceptional income from sales of shareholdings in 2007 and an increase in provisioning. The Bank also delayed a decision on whether it will declare a dividend till
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The U.S. economy contracted at its sharpest rate since early 1982 in the fourth quarter, revised data showed on Friday, as exports plunged and consumers cut spending by the most in more than 28 years. The Commerce Department said gross domestic product, which measures the total output of goods and services within U.S. borders, shrank
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