The European Central Bank injected an unprecedented $500 billion into the banking system at a below-market rate, in a cash injection to counter the impact of the global credit crunch. The aim is to cut the cost of lending between retail and commercial banks, which has jumped in the past few weeks. The rate at

The Cyprus Stock Exchange announced the resumption of trading of the titles of Sea Star Capital Plc from Wednesday, December 19, 2007, as the Supplementary Prospectus has been approved by the SEC on December 18, 2007. Taking into account SEC’s request, the CSE Council also decided to extend the period of rights exercise until Friday,

Logicom Public Co. Ltd (LOG) announced that all unexercised rights representing 3.2% of the total issue will be disposed through the Book Building procedure. The company previously announced that 59,769,370 Rights have been exercised, which is 96.82% of the total. It is reminded that for every new share allocated with the exercise of Rights, 1

Residential property prices in Cyprus hit another record in November as prices rose by 21% year on year, according to the BuySell Home Price Index. This is the highest year-on-year increase recorded by the index, which began in 2004. The BuySell Home Price Index rose for an eleventh consecutive month to 141.69, recording a significant

Marfin Egnatia Financial Services have issued a price target of EUR 1.62 on Logicom Pcl (LOG) following the release of the 9M07 results with a “buy” recommendation compared to current prices of EUR 1.20, indicating a 35% potential return on investment. Logicom recorded a satisfactory increase in bottom line figure of 19.2%yoy to EUR 5.35mln

International players should look to the expanding Middle East home decoration market, which was worth US$ 600 mln in the UAE alone last year, according to a regional expert. French brand Guy Degrenne – manufacturer of exclusive home and kitchen ware – is to open a number of retail outlets, in order to address this

IFA Hotels & Resorts has made its first investment into North America by completing a $300 mln hotel deal to be built in central Manhattan with leading US real estate developer Related Companies. The hotel market in New York is the number one in the US in terms of RevPAR. Occupancy levels for Manhattan hotels

The value of the building materials industry in the UAE is projected to reach AED 40 bln (USD 10.9 bln) by the end of 2007 according to latest research findings, which assessed and projected the expenditure in construction materials by property developers within the country. In a bid to leverage the booming market, Danube Building

Smart Technologies Inc, has announced the launch of SmartExchange, a new online community that will help educators around the world share information, connect with colleagues and collaborate on various topics, regardless of distance or time zones. It goes beyond a text-based forum and gives members access to an events calendar, photo gallery and resource downloads.

Business Software Alliance, the international association established by the software industry to promote a safe and legal digital world, in collaboration with the Qatar Ministry of Economy and Commerce, has concluded a road show in Qatar which provided a comprehensive overview of the country’s strategy to combat software piracy. “Qatar has performed considerably well in