Indian mobile operator Idea Cellular, Ericsson and the GSM Association’s Development Fund have teamed up to develop biofuels as a source of power for wireless networks in rural India.  In a pilot project in Pune, Maharashtra, the three organizations will begin using biofuels to power mobile base stations located beyond the reach of the electricity

Marfin Popular Bank Public Company Ltd (CPB) announced that Powe Capital Management, MFG, The Employees Provident Fund, Laiki Cyprialife, Insight Investment and Tosca Fund with a total of 14.17% shareholding in CPB rejected the public offer of Piraeus Bank for the acquisition of 40%-100% of CPB offering 1 share of Piraeus for 5.7 shares of

EUR/USD broke above the 1.3000 level despite the release of weaker than expected German industrial production data. Although the Q4 US productivity surprised the market on the upside with a 3% increase, it had little impact on the trade. The lower 10y Treasury yield brought USD down with it. Watch EURUSD 1.3065 and GBPUSD 1.9750

Marfin Popular Bank Group announced that its proforma profit after tax attributable to shareholders posted a substantial 235% YoY increase to EUR 396.6 mln (CYP 229.3 mln) from 2005. The published Marfin Popular Bank Group Profit and Loss account for the year to 31.12.2006 contains only the profits of Laiki group since the consolidation of

Bank of Cyprus Public Company Limited announces that it has purchased Cytrustees Investment Public Company shares on the Cyprus Stock Exchange at the price of EUR2,45 per share. To this end and pursuant to Article 16 of the Cyprus Securities and Stock Exchange (Public Offer for Acquisition of Securities and Merger Companies Listed on the

The Board of Directors of Marfin Popular Bank has elected Soud Ba’alawy as Chairman of the Bank, whilst Neoklis Lyssandrou was elected as Vice Chairman during a meeting of the Board held in Nicosia on February 8, 2007 where the preliminary 2006 results were also approved. “Marfin Popular Bank has a vision to become one

Deutsche Bank and Citigroup have revised higher their price target on the Bank of Cyprus shares following the announcement of above expectation 2006 preliminary results and the forecast for up to EUR 650 mln in net profits by 2009. Deutsche Bank now expects BOCY shares to reach EUR 15.5 per share from its previous EUR

British Airways (BA) is planning to add up to GBP240 to the cost of a return long-haul flight if passengers want to check in an extra bag. Travellers on shorter international trips will face a bill of GBP120 and those on domestic journeys, GBP60. Analysts said the tactic allowed BA to cover costs – and

Marfin Popular Bank does not intend to improve its EUR 2.43 per share bid offer for Cytrustees Investments Pcl (CYTR) following the massive increase in the bid offer submitted by Bank of Cyprus Pcl, which improved its offer for the investment company to EUR 2.45 per share from its previous EUR 2.25 per share price.

Due to the “overwhelming positive public response” to Areeba’s Christmas “Max Box” promotion, the alternative mobile operator has decided to keep the festive offer for a while longer to the end of February 2007! All new subscribers buying a Pay As you Talk connection pack (either the standard yellow packs or the special edition Max