Cyprint Plc acquired the 40% of the issue share capital of CATALAN LTD for the amount of CYP 120,000. CATALAN LTD is based in Limassol and specialises in the advertising sector. With the acquisition of Catalan the company anticipates to increase sales as well as to improve profits.
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Marfin Financial Group announces today that MFG Capital Partners, the recently formed subsidiary of Marfin Bank in investment management services has received authorization by the Financial Services Authority (FSA) in London, UK. Â The objective of MFG Capital Partners Ltd, which is based in London, UK, is to provide Investment Management services for institutional investors
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A two-day annual fund-raising charity, Radiomarathon, was launched on Monday morning in aid of children with special needs. This is the 17th time in a row Radiomarathon is organised by the Cyprus Broadcasting Corporation (CYBC) and Laiki Group, one of the largest financial institutions, with 53 kiosks and twelve piggy-bank cars on tour to collect
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Marios Karoyian was elected here Sunday new leader of the centre-right Democratic Party (DIKO), succeeding Cyprus President Tassos Papadopoulos who resigned from the post in August this year. Karoyian secured 4,759 votes or 62.6% against 2,840 votes or 37.4% garnered by Nicos Cleanthous, who had been DIKO Acting President. The new DIKO leader was born
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A German frigate, the Frankfurt, rescued two seamen with first and second degree burns from a Syrian cargo ship lying off the coast of Cyprus that had caught fire in the engine room early Monday. The German navy vessel, part of the multi-national force patrolling the Lebanese coast, airlifted the pair by helicopter to a
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Ocean Tankers Holdings Pcl has successfully covered its initial public offering but has requested an extension until November 8 in order to allow time to the CSE to open trading accounts for overseas investors, mainly Greek shipowners who are participating in the issue. Ocean Tankers offered a total of 3 mln shares during the IPO
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Bank of Cyprus has decided not to submit proxies for its stake in Laiki Bank ahead of the EGM to be held on October 24, effectively distancing itself from the 50-70 disgruntled shareholders of Laiki who want to block the proposed merger. The presence of BOC Board member Evdokimos Xenophontos at last Friday’s meeting held
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The Board of Directors of Laiki Bank Pcl (CPB) will sue former Chairman Kikis Lazarides for spreading lies and damaging information against the interests of Laiki shareholders and employees. Equally important are comments by two Laiki officials, groomed by Lazarides who confirmed to the Financial Mirror that no bribes had been offered to Lazarides. Platon
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The European Investment Bank (EIB) announced on Friday the first tranche of a 70 mln euro financing to support the continuation (Phase B) of the Limassol District Sewerage and Drainage Project.This is the first tranche of a 100 million euro credit facility approved by the EIB.Teh EIB said in a statement that the loan contract was
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The official interest rates of the Central Bank of Cyprus, that is the minimum bid rate on the main refinancing operations, the interest rate on the marginal lending facility and the interest rate on the overnight deposit facility, remain unchanged at 4.50%, 4.50% and 2.50%, respectively.Central Bank Governor Christodoulos Christodoulou said on Friday the decision
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