By Michael S. Olympios, Chief Consultant Allied Business Consultants  Bank of Cyprus’ annual general meetings have not lacked drama. Until 2004 shareholders demanded corporate governance reforms, an exodus from past mistakes and good performance. Since then the biggest banking organization has managed to do all that and indeed to exceed expectations several times prompting
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It is ridiculous, to say the least, that despite the strenuous efforts by all to bolster the island’s tourism industry and make (in some cases futile) attempts to overturn the falling number of tourist arrivals, local authorities are still bound by Colonial-type laws and prohibitions. One such silly legislation is the imposition of a fine
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The enterprise mobility business of Motorola, Inc. has introduced the new rugged Symbol LS3578-ER and LS3578-FZ cordless Bluetooth scanners for warehouse, distribution, and manufacturing environments. Ideal for scan-intensive applications in the most extreme working conditions, the Symbol LS3500 series of scanners provides superior performance and reliability for various industrial applications including shipping and receiving, inventory
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Ericsson has announced an upgrade to its high-performance Gigabit Passive Optical Network (GPON) system, the EDA 1500, an important part of the company’s broadband offering. The upgraded version of EDA 1500 can now switch bandwidth up to 320Gbps for commercial and residential next-generation multimedia services. Fiber optic technology and fiber-to-the-home (FTTH) deployments are becoming an increasingly important
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Cyprus Trading Corporation Public Ltd. (CTC) announced its decision for the submission of a Public Offer for the acquisition of the total shares of Woolworth (Cyprus) Properties Public Ltd. (FWW) while at the same time, NKS Holdings withdrew its bid interest. The total issued shares of Woolworth, including the shares that resulted from the recent
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The Council of Ministers decided Wednesday to amend the law governing military service in the National Guard in order to ensure equal treatment for all male Cypriot citizens who are drafted for the two-year service. The proposed bill, to go to the House of Representatives for consideration, provides for the drafting of Maronites, Latins and
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President Tassos Papadopoulos has described as “very significant†the entry into the eurozone on January 1, 2008, saying that this confirms that the government’s fiscal policy has been a success and the local economy sound enough to meet EU criteria for the euro area. “This is an important landmark for Cyprus and I believe that
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The international emerging markets credit rating agency Capital Intelligence has raised Oman’s long-term foreign currency rating to A- from BBB+ and its long-term local currency rating to A from A-. The agency has also raised the sovereign short-term local currency rating to A1 from A2, while maintaining a ‘stable’ outlook. The upgrade reflects the improvement
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Further to the announcements dated February 22, 2007 and May 31, 2007 on the payment of a final dividend for 2006 to the shareholders of Hellenic Bank Public Company Ltd and the reinvestment of the net payable sum of the dividend in bank’s shares, the Bank clarified that on June 19, 2007, it sent letters
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According to the Bank of Cyprus Dividend Reinvestment Plan, the price at which the final dividend for 2006 will be reinvested into shares is CYP6,63 or EUR11,33. It is reminded that the price was calculated according to the terms of the Plan, based on the applicable 10% discount on the weighted average closing price of
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