Louis Group Pcl (LUI) announced that it has agreed to sell a 57% stake or 1.709.889 shares in the Cyprus Tourism Development Co. Ltd. (CTDC), the owner of the Nicosia Hilton to the Investment Bank of Greece, a member of the Marfin Popular Bank Group at the price of CYP 30 mln (EUR 51.9 mln)
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Fitch Ratings have upgraded the individual rating of Bank of Cyprus Pcl to “C†from “C/Dâ€. Additionally, it confirmed the Issuer Default to ‘A-‘ with a Stable Outlook. The upgrade reflects the bank’s improved profitability, its highly satisfactory capital adequacy ratio, the limited risk in markets where it operates and the reduction in provisions for
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Marfin Popular Bank surprised the market by declaring a CYP 0.18 or EUR 0.31 per share final dividend for 2006, for a 300% YoY increase, which based on the current level of EUR 8.14 per share, gives a dividend yield of 3.8%, the highest in the Cyprus banking sector. MPB Chairman Soud Ba’alawy on his
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The Statistical Service of Cyprus has announced that it has published the monthly report “Intra-Extra E.U Trade Statistics (Summarised Data)†for November 2006. Total imports/arrivals (covering total imports from third countries and arrivals from other Member States) in January-November 2006 rose by 8.6% to CYP 2,925.9 mln compared with CYP 2,693.5 mln in January-November 2005.
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Malicious JavaScript has been planted on numerous legitimate Web sites over the weekend, attempting to take advantage of known flaws in Windows to download and activate keylogger and backdoor trojans on machines which browse the sites, Virus Bulletin reports. An initial report was released on Friday, warning of an attack found embedded in the site
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Panda Software has released Malware Radar, a new automated malware audit service, which detects the threats that slip past traditional solutions. This solution responds to the problem posed by the spectacular growth in the amount of malicious code in circulation, which is not detected by existing anti-malware products. In fact, 76% of the companies audited
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The Cyprus government’s Town Planning Department is expected to issue a new preservation order declaring a large part of the Melkonian school’s estate in Nicosia as a national heritage site once again. This has revived hopes within the Armenian community of Cyprus that the high school and its boarding house could some day reopen to
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Cyprus-U.S. diplomatic ties have been strained after the Nicosia government’s refusal to cooperate in efforts to extradite former United Nations oil-for-food programme director Benon Sevan, according to local press reports. Sevan, 69, a Cypriot of Armenian descent was indicted in New York last month on charges of bribery and corruption in connection with the OFFP,
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Dubai Financial Ltd. Co., announced that on February 14, 2007 it proceeded with the purchase of 500.000 common registered shares of Marfin Popular Bank Public Company Limited at an average price of EUR 8,3388 per share. Following the transaction, the Company’s voting rights in the Bank amount to 17.1026% of the Bank’s total voting rights.
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The Central Bank of Cyprus announces the issue of up to CYP5.000.000 Government Registered Development Stock (GRDS) with three years duration and interest of 3,75% p.a. payable every six months. The aforesaid GRDS can be acquired by natural persons only. Interest earned on GRDS is exempted from income tax without any limitation but is subject
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