Hellenic Bank and Marfin Popular Bank announced record profits for the first half of the year, exceeding stock market expectations by nearly 170%. Hellenic Bank Group recorded profits of EUR 70,3 mln for the first half, up 169% from EUR 26,1 mln in the same period last year, with the bank expected to exceed the
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Turkey’s Islamist Foreign Minister, Abdullah Gul, was sworn in as the country’s eleventh president Tuesday evening during a ceremony at the National Assembly in Ankara following an easy victory in the parliamentary poll earlier in the day. Cyprus Foreign Minister Erato Kozakou Marcoullis said that the government in Nicosia is closely monitoring developments, following the
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Capital Intelligence (CI), the international emerging markets rating agency, has raised the foreign currency rating for Qatar Islamic Bank (QIB) to A- from BBB+ (long-term) and A2 (short-term), while the financial strength rating is raised to A- from BBB+. The support rating of 3 and a Stable outlook applicable to all ratings is affirmed. The
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Moody’s Investors Service believes that the prospects for the markets in Sukuk, or Islamic bonds, and Islamic financing in general are very encouraging in Asia, and this outlook goes beyond predominantly Muslim countries. “Globally, the Malaysian market now accounts for most outstanding Sukuk, but interest is growing in the rest of Asia, obviously in jurisdictions
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Motorola subsidiaries Symbol Technologies, Inc. and Wireless Valley Communications, Inc., have filed a patent infringement lawsuit against Aruba Networks, Inc. The lawsuit, filed on August 27 in the U.S. District Court for the District of Delaware, concerns Aruba’s infringement of patents related to wireless local area network (WLAN) communication technologies. Motorola, Symbol and Wireless Valley
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Germany’s CompuGroup Holding AG announced that the company, acting through its wholly-owned subsidiary CompuGroup UK Limited, will not increase its cash offer, announced on July 20 of 66 pence per share for iSOFT Group plc except that CompuGroup reserves the right to increase the offer only if a third party (other than IBA Health Limited
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Mellon Financial Products Support (MFP), member of the Athens-based Mellon Group of Companies specializing in business process outsourcing services, announced its cooperation with Visa Europe to provide briefing and training services to retailers for the acceptance of payments with the use of chip cards. This initiative falls under the wider effort of Visa Europe to
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— Olive production destroyed, damages seen at EUR 1,5 bln  Bank of Cyprus is contributing EUR 5 mln in financial aid and supplies to the relief effort from the ravaging Greek fires, which until yesterday had claimed 63 lives and left thousands homeless, while a major fund raising drive is underway throughout Cyprus to
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— SFS dazzles with exceptional performance  Market attention is fixed on the flow of first half earnings announcements by CSE-listed companies with the last three days of August expected to see a barrage of reports that will be closely scrutinised by market analysts. Following the 57.5% increase in first half profits reported by Bank
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COMMENT  In August 24, 1991 the Ukrainian Parliament, Verkhovna Rada, declared Ukraine’s independence and the decision was supported in a national referendum by more than 90% of the country’s citizens. Because of different reasons patriotic efforts to establish the Ukrainian state in the 20th century were winning only for limited periods of time. Therefore,
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