Marfin Popular Bank (CPB.CY) announced the completion of the acquisition of a 50.04% stake in RPB-Holding, the parent company of the Russian bank OOO Rossiysky Promyishlenny Bank (“Rosprombank”) for EUR 83 mln. As at 31 December 2007, Rosprombank had total assets amounting to EUR 297.5 mln, loans of EUR 157.9 mln and deposits of EUR
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Around 51 thousand pupils returned to schools on Thursday as primary and pre-primary schools opened in the southern government controlled areas of Cyprus. Students of tertiary and technical education will begin their school year on Monday, 8 September. Schools at the Turkish occupied village of Rizokarpaso however remained closed on Thursday since the Turkish Cypriot
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The Bank of England looks set to keep interest rates at 5 percent for a fifth month running on Thursday but expectations are rising that a stuttering economy will force it to cut rates before the end of the year. With inflation more than double the central bank's 2 percent target, all 67 analysts polled
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Asian shares fell to new two-year lows on Thursday as further signs of a slowing global economy — from the United States to the euro zone — hit export-dependent sectors such as technology. The dollar held steady at near an eight-month high against the euro ahead of the European Central Bank's (ECB) meeting later in
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(Histrionics until Christmas?) By Tom Lawrence The umpteenth round of fully fledged negotiations to solve the Cyprus problem are officially launched Wednesday and all eyes are again on “that little island with such a big problem”. George Iacovou, Presidential Commissioner to Demetris Christofias on the Greek Cypriot side, has already played down expectations, telling the
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The latest report on the operation of the Green Line regulation from the European Commission reports that the value of goods which crossed the Green Line north to south increased by “almost a third” to EUR 4,473,408 in May to April 2008, compared with EUR 3,380,805 in the previous reporting period. However, because the Commission
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Cyprus fresh fruit prices rocketed in April to June, according to the latest figures from the Statistical Service, while pork meat prices fell. The producer price index of fresh vegetables increased by 43.3% in the second quarter of 2008 compared with the respective quarter of 2007. In June increased to 197 from 133 in the
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Greek Foreign Minister Dora Bakoyianni has urged the Turkish side to show the necessary political will during the negotiations, which began today between the Greek Cypriot and the Turkish Cypriot communities, to help find an agreed settlement. The Minister reiterated Wednesday her country’s support for a just, viable and functional solution in Cyprus to reunite
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President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat pledged here today to do their utmost to achieve a settlement of the Cyprus issue this year. The two were speaking to the press at the launch of direct talks, after a meeting which marked the beginning of the negotiating process ahead, which took place
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The leader of the Turkish Cypriot community Mehmet Ali Talat believes that existing differences between the island’s two communities can be bridged with good will and compromise from both sides, in spite of dissenting views on certain aspects of the Cyprus question. Talat also believes that it is possible to reach a negotiated settlement by
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