…share price surges to new record   The share price of Laiki Bank Pcl (CPB) surged to a new record high of CYP 3.44 as investors applauded the fast and efficient way with which the bank secured its entry into the Athens Stock Exchange. The Board of ATHEX announced that it has accepted the application

CSFB the international investment power house has thrown its full weight behind the proposed Laiki-Marfin-Egnatia merger describing it as good, which once completed will have enough liquidity (capital) to facilitate its expansion plans. In a research note, CSFB placed a EUR 46.2 price target on the shares of Marfin with an “outperform” recommendation, expressing that

The Commission for the Protection of Competition decided that the public offer made for the acquisition of a minimum of 50% plus one share and a maximum 60% of the issued share capital of Universal Bank (USB) at a cash consideration of CYP 0.90 per share, by ‘Aspis Pronia A.E.G.A.’ and ‘Commercial Value A.A.E.’, does

EUR/USD has broken sharply higher through the 1.2610 initial resistance to put the important 1.2650 area (including down trendline resistance) under pressure. A break above 1.2650 will trigger another bullish signal suggesting that a bottom has been established, opening upside potential to 1.2720 initially and then target 1.2750. Failure however to penetrate 1.2710/30 on a

Bank of Cyprus Public Company Ltd has introduced 406.147 new ordinary shares on the Cyprus Stock Exchange and the Athens Exchange resulting from the recent increase in the share capital by CYP 203.073,50 (€352.130). The new shares to be introduced have resulted from the exercise of 406.147 Share Options on 30 September 2006 by 608

The Monetary Policy Committee (MPC) of the Central Bank’s Board of Directors decided to keep interest base rates unchanged at 4.5%.The official interest rates are set at the following levels: * Minimum bid rate on the main refinancing operations (repo): 4.50%* Interest rate on the marginal lending facility (Lombard): 4.50%* Interest rate on the deposit

Civil engineering booms, hotels out of favour   The number of building permits authorised rose by 28.3% year on year to reach 788 in June and provided for 1,745 dwelling units. For the first seven months as a whole, the number of building permits authorised rose by 13.6% compared with the same period of 2005

Figures on motor vehicle registrations show that the anticipation of car-tax changes had played havoc with car sales in the past few months. Parliament is expected to approve cuts in excise duties on both new and used cars at the end of the month. In anticipation of the cuts, people have stopped buying. Motor vehicle

  Cyprus authorities have destroyed some 4,5 tonnes of beef, pork and lamb which they deemed as “unsuitable for consumption” after seizing the meat from the stores of Chris Cash and Carry/Carrefour Group. Agriculture Minister Photis Photiou said the meat, originating from Germany, France and the U.K., was seized on October 10 to 14 and