PandaLabs, Panda Software’s anti-malware laboratory, has detected a rapid increase in the number of incidents caused by a new variant of the Spamta worm. In one 12-hour period, incidents involving this malicious code multiplied rapidly. These waves of malicious code are basically aimed at creating a critical situation that requires security companies to focus their efforts on countering
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A Cyprus-based development company, Kerlengou Island Investments Plan Ltd, has bought the 12-square-kilometre island of Dhokos, in the Saronic sea off Hydra, and plans to develop a mega-project worth EUR 2 bln. This is reportedly one of the last of more than 60 private Greek islands on sale across Greece in recent years, The nearly-deserted
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Bank of Cyprus staff have managed to boost productivity by 60% during the past two years, helping drive the Bank’s profits higher and higher, which at the same time has been instrumental in boosting the share price. BOC Cyprus CEO & Group Deputy CEO Charilaos Stavrakis told a briefing for financial journalists during a luncheon
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Stademos Hotels Plc (SHL) reported its 9M06 results posting a net profit of CYP 1.26 mln (+ 8.5%YoY) and approved an interim dividend of CYP 0.01 (EUR 0.017). Ex-dividend date is set on 11 December 206. Based on the stocks latest closing price of 0.79 euros on the CSE, the dividend yield stands at 5%.
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A. Tsokkos Hotels Pcl released a strong set of 9M06 results posting a 59.2% YoY increase in net profit to CYP 4.45 mln or EUR 7.72 mln. EPS was at 1.85 cent vs. 1.14 cent in 9M05. The boost in TSH’s bottom line is attributed to the write-off of negative goodwill from the acquisition of
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The U.S. currency stayed under pressure against other majors, with the euro rising to $1.3270. Sterling surged to $1.9749 above $1.9700 for the first time since September 1992 when Britain was forced to abandon its participation in the European Exchange Rate Mechanism, the precursor to the euro. The dollar has taken a big hit as
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Cypriot Government Spokesman Christodoulos Pashiardis warned here today that Nicosia will not give its consent to the European Commission’s recommendation for Turkey‘s refusal to expand its Customs Union to the Republic of Cyprus. Pashiardis said that the Cypriot government will intensify efforts for alterations to the Commission’s recommendation so that these represent an effective measure
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European Union’s Economic and Monetary Affairs Commissioner Joaquin Almunia said here Thursday that Eurobarometer polls indicate that better public communication on the euro is necessary.Speaking on a conference entitled ”EMU Governance and Euro Changeover: Cyprus on the Path to the Adoption of the Euro”, Almunia said that 2007 will be a very crucial year regarding
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Greek Minister of Foreign Affairs Dora Bakoyiannis arrives in Cyprus and will be received by President of the Republic Tassos Papadopoulos.During her stay on the island, Bakoyiannis will also meet with her Cypriot counterpart George Lillikas.Cypriot Government Spokesman Christodoulos Pashiardis said the Bakoyiannis’ visit was programmed before yesterday’s publication of the European Commission’s recommendations on
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Financial sector booms  Economic growth decelerated slightly in the third quarter according to the latest figures from the Statistical Service, CYSTAT. Real GDP growth rose in real terms by 3.6% in the third quarter of 2006 compared with the third quarter of 2005. In the second quarter, it rose by 3.9%, according to upwardly
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