Orphanides (ORF) issued a negative profit warning for its 1H07 financial results blaming it on the decline in revenue associated with the operation of the supermarkets at Larnaca, Zakaki and Paralimni due to reconstruction and renovation, the increase in promotion and advertising costs and higher net finance expenses. On the other hand, despite the reduction

The cost of fighting money laundering has risen dramatically for banks across the world as they have become increasingly engaged in the struggle against criminality. However, the task is becoming more difficult due to the increasing complexity of the financial markets in which they operate, including greater exposure to sometimes unfamiliar emerging markets and the

SFS Group Public Company Ltd (SFS) announced its 1H 2007 results reporting exceptional profits on the back of improved business activity in all three main areas of interest, namely shipping, commercial and financial services, which led the Board to declare an interim dividend. SFS has already upped its forecasted profit target for 2007 to EUR

Cyprus Airways (CAIR) reported significantly reduced losses and details of a forthcoming rights issue aiming to raise CYP 14 mln or EUR 24 mln in fresh capital to overturn the company’s negative net worth and provide desperately needed working capital. The total revenue of the Group, excluding Eurocypria’s revenue (CYP21,1 million) from the comparative figures

Another third are retired by 60   Over one-third of workforce in Cyprus are graduates of tertiary education, according to the Labour Force Survey for 2006 published by the Statistical Service Cystat on Tuesday. According to the survey, (33.4%) of the workforce had completed tertiary education and 39.8% had completed upper secondary education. The labour

Nokia announced at the Game Developers Conference (GDC) China in Shanghai that SINA Corporation, a leading online media company and value-added information service provider for China and for global Chinese communities, has launched five connected mobile games powered by Nokia’s SNAP Mobile. Consumers in China can try out the new games, including 3D Pool Hall,

Secure Computing Corporation, a leading enterprise gateway security company, announced an increase in web borne malware attacks that are financially motivated, in a report outlining the top threats worldwide that afflicted enterprise and home users in the first half of 2007. The report first identified that information-stealing threats and backdoor threats continue to be the