The House of Representatives approved a EUR 78 mln loan to Cyprus Airways to help the airline pay off previous loans and improve its finances. The loan is backed by government guarantee and will be taken from Hellenic Bank. Part of the proceeds will go to pay off a loan, again backed by government guarantees

Residential property prices in Cyprus continued to rise for a fifth consecutive month in May 2007, recording a monthly increase of 1.8%, according to the BuySell Home Price Index prepared by Dr. Stelios Platis and Marios Nerouppos of MFC S. Platis. The index reached 124.58 in May, compared with 122.44 in April, marking an increase

The Head of Strategic Development of Hellenic Bank (HB), Yannis Telonis has denied a report appearing on Bloomberg claiming that the Cypriot Bank is in talks with Bank of Piraeus SA to expand in Russia and east Europe. The report was issued by Bloomberg, but Telonis told the Financial Mirror that he was misquoted and

The introduction of the euro in Cyprus due in January 2008 not only means new opportunities for local Cypriot businesses, but adds a new market for large, locally based international players who have traditionally done business abroad. In an interview with the Financial Mirror, Managing Director of Limassol-based BNP Paribas Cyprus Limited, Thierry Gigant, explained

Moody’s Investors Service has assigned long term local and foreign currency issuer ratings of A1 to DP World, one of the world’s largest marine terminal operators. The outlook is ‘stable’. “DP World’s ratings reflect the combination of a strong, diversified and global business profile and high government support”, says Dubai-based Philipp Lotter, Senior Credit Officer

Nokia Siemens Networks has won a contract to modernize the network of Bharat Sanchar Nigam Limited (BSNL), India’s largest carrier. The new access network’s high bandwidth will ensure that BSNL’s customers can use data-intensive applications with the highest quality and without long waiting times. In a first step BSNL will supply 283 cities in 17

The new Trust Bluetooth 2.0 USB adapters allow users to create a fast wireless connection, also with Windows Vista, between a PC or a notebook and other Bluetooth devices, such as mobile telephones and PDAs. The BT-2305p is an updated version of a Bluetooth 2.0 model that is already available and is compatible with earlier

Ericsson has signed a five-year managed services contract with KPN in the Netherlands for access network field maintenance. Under the contract, Ericsson will assume responsibility for all field maintenance activities and specific employees of KPN’s multi-vendor mobile access, Traxys and Semafonie networks across the Netherlands. More than 40 KPN employees will be transferred to Ericsson.

Dolphin Capital Atlantis Ltd submitted a Public Offer to the shareholders of Aristo Developers Pcl: (ARD) seeking the acquisition of up100% of the shares of Aristo Developers at a consideration of EUR 2.15 cash for every ARD share. Dolphin Capital Atlantis acquired 20.05% of the share capital of ARD at the price of EUR 2.15