On the basis of the results of a survey carried out by the Statistical Service, the total expenditure for environmental protection activities in the public sector in 2004 is estimated at CYP 23.0 mln, which corresponds to 0.3% of the Gross Domestic Product (GDP). The share of the GDP of Cyprus devoted to environmental protection
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The 11% decline in the share price of Marfin Popular Bank (CPB) since word emerged that it wants to absorb the operations of Bank of Cyprus Pcl (BOCY) and Piraeus Bank (TPIER) has forced the Group’s market capitalization to decline to EUR 6.17 bln, well behind the market cap of Bank of Cyprus and sharply
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The Cyprus Securities & Exchange Commission has ruled that the public offer document submitted by Piraeus Bank seeking control of Marfin Popular Bank is valid and has called on Marfin to stop all attempts to promote its public tender bids seeking control of Bank of Cyprus and Piraeus Bank. The SEC ruled that Marfin acted
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Marfin Popular Bank has revised lower its profit target for 2007 but adjusted higher the profit targets for 2008 and 2009. During a conference call held with analysts, Marfin CEO Andreas Vgenopoulos is reported to have said that the profits of the Marfin Group for 2007 will be lower than previously forecast in September, due
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Truck drivers decided to extend their strike action for another 48-hours and enforced a total blockage of Limassol port barring the public from using the port. Port sources said that thousands of containers remained stuck in the port and in some cases, truck drivers decided to block ordinary folk taking delivery of their personal cars,
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Cyprus President Tassos Papadopoulos said that all economic indicators suggest that there will be no devaluation of the Cyprus pound when the country adopts the euro, as expected in January 2008.“All indications are against any suggestion of a devaluation. There is no such question,” he told foreign media correspondents, stressing that the objective is to
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… CTC-ARI new rising star Cyprus Trading Corporation Public Ltd., mostly known for its retail and distribution activities, has become a major investor in a number of key sectors. This activity of the organisation has significant weight and it involves its investment in Hermes Airports Ltd, the consortium that has undertaken to build and operate
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…Greek investors chase Cyprus banks, companies Mergers and acquisitions involving Cypriot companies reached a record CYP 1.69 bln, or EUR 2.94 bln in 2006 amid an unprecedented wave of intense activity in the banking sector, with Greek investors dominating the scene as they chased undervalued Cypriot banks, manufacturing and investment companies. A total of 48
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…calls on Marfin to prove its case by Wednesday  The Cyprus Securities & Exchange Commission has ruled that the intention by Marfin Popular Bank to submit takeover bids seeking control of Bank of Cyprus and Piraeus Bank is illegal and in violation of Cyprus securities laws, in view of the fact that the SEC
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Cypriot Foreign Minister George Lillikas has said that the Turkish Cypriot side has to demonstrate the necessary good will that would lead to the lifting of those obstacles, concerning security matters, that do not allow the opening of the Ledra Street crossing point. “We are in constant contact with the United Nations. We have asked
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