Marfin Investment Group (MIG) announces the acquisition of a 50% participation in the company “Attica Akinita” (Attica Properties). The acquisition will take place via a share capital increase, in which the existing shareholders will waive their rights, and MIG will participate with EUR26 mln. The transaction is expected to be completed in the next two

Forget small and medium sized enterprises: the Cypriot economy is dominated by micro-sized businesses, with only 4.7 persons employed per enterprise on average, according to the Census of Enterprises carried out by the Statistical Service Cystat in 2005. Yes despite this, employment growth has been rising fast. The report, which covered all sectors of the

The trade deficit in Cyprus rose to CYP 637.4 mln in January-March 2007 compared with CYP 587.2 mln in January-March 2006, according to revised figures. Total imports/arrivals (covering total imports from third countries and arrivals from other Member States) in January-March 2007 amounted to CYP 800.1 mln, compared with CYP 769.9 mln in January-March 2006.

Ocean Tankers Holdings Public Company Ltd said that the Company’s management achieved the following time charters: 1. Tanker M/T “Eleoussa Trikoukiotissa” renewed the existing time charter with Herning Shipping SA for the next 12 months with a daily charter of $7,500.  2. The new tanker M/T “Lisa”, the naming ceremony of which took place on

By Fiona Mullen   In an article published in January, I asked whether the Cyprus economy was decoupling from tourism. I cited the unusual combination of falling tourism numbers but rising real GDP. According to the full breakdown of figures published by the Statistical Service, Cystat, on Friday, the economy does seem to be decoupling

Uisge Beatha – a new concept for new operators   ‘Uisge Beatha’, the water of life, is the first of its kind malt whisky concept that has opened inside the partly refurbished Larnaca airport departure lounge with the aim of attracting the whisky connoisseurs and well-to-do travellers on their way to short or long journeys.

BullGuard, specialists in user-friendly PC and mobile security solutions, submitted its BullGuard Internet Security product for the prestigious Virus Bulletin 100 test for the first time this year and passed with flying colours. Products can only pass the test if they detect all active viruses at the time of testing, so-called in-the-wild viruses. Additionally, the

Motorola, Inc. is expanding its MOTOwi4 solutions to provide and extend wireless and networking coverage to indoor spaces. With the new wi4 Indoor solution, Enterprise wireless LAN (WLAN), service providers, governments and enterprises now have their choice of connectivity solutions to meet their wireless coverage needs both indoors and outdoors. “Now, only Motorola can provide