President of the Republic Tassos Papadopoulos has appointed Akis Kleanthous new Minister of Education and Culture. Kleanthous is currently the Chairman of the Cyprus Stock Exchange and a senior member of the ruling DIKO party and a close associate of DIKO party leader Marios Karoyan.In a written statement on Friday, Government Spokesman Christodoulos Pashiardis says
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November’s cut in car excise duties has led to a boom in car sales in Cyprus. The total registrations of motor vehicles increased by 24.4% to 9,842 in January – February 2007, from 7,909 in January – February 2006, according to figures from the Statistical Service. Private Saloon cars increased to 7,725 from 6,101 in
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Motorola, Inc. announced that it has signed a $50 mln contract with Celtel Nigeria to expand its GSM network within the south and south east regions of the country. Under the turnkey agreement, Motorola will deploy its latest Reach GSM solutions and provide comprehensive services. The expansion will enable Celtel to increase its subscriber capacity
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Accounting and consultancy firms, as well as lawyers and professional organizations are up in arms over the vacuum created at Company House, after the Supreme Court overturned a previous Civil Service Commission (EDY) appointment of Spyros Kokkinos as the Registrar of Companies and Official Receiver. The appointment had been challenged on grounds of merit as
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The European Commission has launched an interactive website where stakeholders, including firms, trade associations and investors, can ask questions relating to the recently finalised Markets in Financial Instruments Directive (2004/39/EC) (MiFID) and its implementing measures. The website allows stakeholders to see the answers to questions already asked, as well as allowing them to ask new
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The CSE Council announced that in agreement with the Securities and Exchange Commission and pursuant to Regulation 15(7), it decided to extend the period of acceptance of the revised Public Offer by Aspis Pronoia AEGA and Commercial Value SA for the acquisition of a minimum 20% and a maximum 50% plus 1 share of the
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The first Licensing Round Offshore Cyprus to grant licences to explore and develop hydrocarbon deposits began formally.An official press release, issued today, says that ”the Licensing Round is based on the PGS MC2D CYP – 2006 acquisition, which involved 6,770 line-km of seismic data covering an area of approximately 70,000 sq. km over the Eratosthenes
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Cyprus Foreign Minister George Lillikas departs tomorrow for Slovenia for a two-day official visit for discussions on EU-Turkey relations, the future of the European Union and other issues of mutual concern.During his stay at the Slovenian Capital, Ljubljana, Lillikas will meet with his Slovenian counterpart Dimitrij Rupel and will be received by Slovenia‘s President Janez
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Cyprus and Greece signed here today a memorandum renewing their partnership, covering a total of 29 sports, for 2007.The memorandum was signed by Greece‘s Deputy Minister of Culture, responsible for sports George Orphanos and by Cyprus Sport Organization Vice President Rikos Theocharides.Orphanos described the memorandum as ”strongly expanded and aggressively developmental,” adding that this would
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Ocean Tankers Holdings Public Company Limited announced that on March 1, 2007 it will proceed with the signing of contracts for two additional new-fangled double-inner side tankers of 12,800 tons (its is noted that the capacity of the two new tankers is threefold than the capacity of the two new-flanged tankers that will be received
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