The issue of EUR 500 mln Senior Debt by Bank of Cyprus has been completed successfully under the Bank’s EMTN Programme. The issue was oversubscribed within only a few hours, with the total subscription amount reaching EUR2 bln giving the Bank the opportunity to improve the terms of the issue. The Notes were allocated to

A. Panayides Contracting Public Ltd (APC) announced that on June 21, 2007 its subsidiary, “Pharmakas Quarries Ltd” signed an agreement via its subsidiary “Chenega Holdings Ltd” (in which it holds 81% via the subsidiary Powermix Ltd) with K. Kythreotis Concrete Ltd for the acquisition of a ready-made concrete unit in Nicosia. The business is actively

Panasonic has announced the Middle East launch of its Viera series of plasma and LCD TVs for 2007 that feature higher-quality reproduction of fast-moving images, easy operation and simple networking. In all, ten new High Definition ready models (five plasma and five LCD) were launched at a press conference in Dubai. The new range of

Finance Minister Michalis Sarris has a few more days to go before he takes a final decision on whether the Superintendent of Insurance was justified to block the transfer of Universal Life Insurance Co. shares from Marfin Popular Bank to Aspis Holdings. In February, Aspis Holdings (formerly MFS Holdings) announced the acquisition of a 35.12%

A new trend is emerging in the European banking landscape as evidenced by the recent flurry of cross-border consolidation in Europe, the size of the deals — the acquisition of ABN Amro, if successful, will be the biggest in history — and the increased assertiveness of shareholders, says Moody’s Investors Service in a new Special

IFG Group Plc, the international trustee and corporate management company with USD 30 bln in funds under management, has launched its Cyprus operation with its wholly owned subsidiary, IFG Trust (Cyprus) Ltd. Listed on both the the Dublin and London stock exchanges, IFG Group includes subsidiaries and operations in Ireland, the U.K., Switzerland, Jersey, British

The Shacolas Group of Companies have pledged to round-down euro prices by up to 1% when the euro becomes official tender on January 1, 2008, sending a strong message to the Cypriot consumer concerned that businessess will proceed with rampant price hikes when the euro is introduced. NKS Group Executive Chairman Nicos Shacolas made the

Maarten Dijkshoorn, the president of the Eureko Group, a Top 20 European insurer, arrives in Cyprus to visit the head offices of its subsidiary insurance company in Nicosia, InterLife. Dijkshoorn’s two-day visit is part of a corporate road show to call on all Eureko Group companies outside the Netherlands. During his visit to Cyprus, he