Confine Investments Public Ltd announced that the results for the year ending December 31, 2006 are expected to show improvement compared to the corresponding results of 2005. This improvement is attributable to the positive performance of the Company’s portfolio, which is invested in listed companies’ titles. Due to the acquisition of 50.96% of “Finikas Ammochostou
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The Nicosia District Court issued a decree for the approval of the reduction of capital of Demetra Investments Public Limited. The application for the reduction of capital will be submitted to the Companies Superintendent Department, pursuant to the relevant law. According to the Nicosia District Court decree, the reduction of capital will be achieved as
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The Board of Directors of Dimco Electrical Pcl (DES) decided to pay an interim dividend from the accumulated profits of 2004 at 1.2 cents or EUR 2.08 cents per share of nominal value 10 cents each or 12% on the issued and paid share capital, which stands at CYP 485.999. The cum-dividend date will be
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The Board of Directors of Bank of Cyprus, having examined its strategic expansion plans has told Piraeus Bank to submit a detailed and specific proposal after which the two sides may engage in serious discussions. The Board having examined the Bank of Cyprus Group direction as well as strategic issues and noted the following: The
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The European Commission has decided to pursue infringement procedures against Cyprus, Luxembourg, Sweden and Portugal to ensure full and correct implementation of certain Internal Market Directives. The Commission has formally requested Cyprus to complete its implementation of five company law Directives. These requests take the form of “reasoned opinions”, the second stage of the infringement
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Discussions at the European Council, which begin Thursday, are set to focus on the future of Europe. Cyprus President Tassos Papadopoulos is in Brussels to represent the country at the two day meeting, accompanied by his Foreign Minister and high ranking government officials. The 25 leaders will debate issue relating to enlargement, the ability of
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Louis plc announced that it has agreed to charter its recently-acquired cruise ship, the Orient Queen, to two German companies — Hansa Kreuzfarten GmbH and Delphin Kreuzfarten GmbH – for a round the world trip from next Monday, December 18, to May 7, 2007. The 140-day charter will take the ship from Pireaus to around
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A record increase of spending for programmes strengthening the sustainable growth, competitiveness and cohesion of the European economy – the first yearly budget of the new Financial Framework 2007-13 translates better the Union’s political priorities into budgetary figures. “The new Financial Framework becomes a new financial reality from now on”, said Dalia GrybauskaitÄ—, Commissioner for
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CyTA, the state-owned telecom of Cyprus is suing the Telecom Regulator and in turn the Cyprus government seeking damages of up to CYP 14 mln for loss of revenue because the Telecom Regulator did not allow it to hike the monthly rental on fixed telephony. Cyprus Telecom and Postal Services Regulator Vassos Pyrgos revealed the
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Bank of Cyprus CEO Andreas Eliades insists that Cyprus’ largest financial organization will stick to its policy of expansion of activities in Greece and the new markets of Romania and Russia, stressing once again that it will not deviate from its course simply because “some people want to cooperate without making specific proposals.” Eliades said
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