The Republic of Cyprus will tap international markets to raise EUR 1 bln through a bond issue, which will be made during the first half of 2009, Finance Minister Charilaos Stavrakis said. ''We are at the final stage of preparations for a one billion euro bond issue, which will be addressed to foreign investors,'' after
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U.S. President Barack Obama on Saturday hailed congressional approval of a $787 billion economic stimulus bill as a "major milestone on our road to recovery" and the White House said he would sign the legislation on Tuesday in Denver. "I will sign this legislation into law shortly, and we'll begin making the immediate investments necessary
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The G7 economies are struggling to produce a collective response to the worst downturn in decades, raising the danger that an upcoming G20 meeting could in turn hit trouble over the looming issue of trade protectionism. In Rome, finance ministers of the G7 free-market democracies issued a statement on Saturday where they pledged to do
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Turkish police clashed with Kurdish protesters and arrested at least 15 people demonstrating to mark the 10th anniversary on Sunday of the capture of separatist leader Abdullah Ocalan. Five protesters and two police officers were hurt in the illegal protests in towns across Turkey's mainly Kurdish southeast, according to local hospitals. Protesters in Diyarbakir, the
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The merger between Laiki Investments, a member of Marfin Popular Bank subsidiary and CLR Capital has gone ahead smoothly, creating Marfin CLR Public Co. Ltd., Cyprus’s largest financial services firm both in terms of volume transacted on the Cyprus Stock Exchange and the number of active clients. Two of the people who worked hard to
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The French supermarket chain Carrefour, operating stores in Cyprus through the Greek-owned Marinopoulos Group, has opened a Carrefour express store on Tseri Avenue in Nicosia. According to the company, the plan is to expand the number of the smaller Carrefour express stores on the island to nine by the end of 2009, in addition to
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The International Shipping Federation (ISF) and the International Chamber of Shipping (ICS), representing the international shipowners and ship operators community, held their Mid-Year Council and Board of Directors Meetings on February 2-3 in London. The President of the Cyprus Shipping Chamber, Capt. Dirk Fry, as the Vice-President of the International Shipping Federation (ISF) and as
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The Cyprus Chamber of Commerce held its Annual General Meeting in Nicosia recently where it honoured business organisations that have contributed to the progress of the Cypriot economy. Leptos Group was honoured for it business activities both domestic and international, it’s dynamism and innovation. President Christofias presented the award to Michael Leptos, founder and president
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GHALANOS: “Love at First Sip?†Founded in 1929 as a food importer/distributor, Othon Ghalanos changed direction in 1967 when the present CEO Stelios Ghalanos took over the reigns from his father. The food trade was replaced by wines, spirits and other beverages and the firm rapidly became the market leader, with some of the world’s
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First year in office Demetris Christofias is not a lucky man. He has just completed his first year in office and faces more challenges than any other President before him, with prospects for a political solution seeming as distant as when he was elected and the economy heading for a freefall, not of his own
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