…EUR300-400 mln income from MIG forecast for MPB  Marfin Popular Bank CEO Andreas Vgenopoulos has said the Bank’s 8.19% investment in Bank of Cyprus is no longer considered a strategic stake and is now being viewed as “flexible†indicating that the MPB is no longer seeking a cooperation leading to a merger. Speaking at
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According to PandaLabs, trojans and adware accounted for 49.6% of infections detected by Panda ActiveScan in June. Trojans, which increased by 0.75% in the month, caused 26.89% of infections, whereas adware was responsible for 22.72%. These figures prove that most new malicious code is mainly created to fraudulently obtain financial benefit. Other types of threats
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— GENX racks up 25% return in 1H07, EUR 8 bln extra wealth created in 2007  The combined market capitalization of the Cyprus Stock Exchange (CSE) reached EUR 20.5 bln as of July 3, which means that it is now 1.5 times larger than the country’s gross domestic product (GDP), according to Financial Mirror
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The Carrefour supermarkets in Cyprus, operated by the Greek-French joint venture Carrefour Marinopoulos that bought out the Chris Cash and Carry chain two years ago, has bought 20 tonnes of halloumi from local dairy Christis and will place them in its local stores under its own label. At a later stage Carrefour will export some
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Fuels supply sector newcomer StarOil will be the company to watch over the next few months, as its management has set an ambitious target of achieving a 10% market share by the end of the year. StarOil’s Managing Director, George Petrou, told the Financial Mirror in an interview that “our targets are clearly defined. That
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By David I Rumsey, 3D Global  Few people are aware that, in Cyprus, there are excellent tax breaks on certain types of savings plans: by taking out the right type of plan, you could reduce your income tax AND take a tax-free lump sum or income after six years. The fact that few people
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The Employers and Industrialists Federation, OEV, has finally broken its silence and come out in support of the National Bank of Greece over the conflict the bank has had for over a month with the militant trade union, Etyk. OEV declared that it had been cautious not to fuel any new friction to allow the
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The Cyprus International Business Association (CIBA), the umbrella group for international-activity companies based on the island, elected Bernt Gienskey as its new president at its annual general meeting held recently in Limassol. Outgoing president Chris Koufaris had announced that after five years of service as the helm of CIBA, which he had thoroughly enjoyed, he
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The Brussels Representative Office of the Central Bank of Austria and the Directorate General for Economic and Financial Affairs (DG Ecfin) of the European Commission organised a round–table discussion on “5 Years of Euro – Cash: Myths versus Facts†that included speakers from the central banks of Malta and Cyprus. Michael Bonello, Governor, of the
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The militant bank employees’ union, ETYK, has called off a strike that would have crippled strike at all banks Wednesday from 12.30 to 2.30pm to protest its inability to convince the National Bank of Greece (Cyprus) to yield to its demands. The union said it accepted a mediation offer from Labour Minister Antonis Vassiliou and
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