— Transition Chairman likely until May ’07 The Bank of Cyprus Pcl (BOC) board meeting on Thursday is likely to be a critical one as it will have to choose a new group chairman after Vassilis Rologis resigned last week. Ironically, board members will also have to take a stance on a cooperation deal proposed

Athienitis Contractors Pcl (ACD) issued its 1H06 results posting a Net Profit of CYP 428k vs CYP 377k in 1H05 (+13.9% YoY). The positive performance is attributed to higher revenues (+76% YoY to CYP 5.9 mln) and an improvement in operating profitability supported by an exceptional increase in gross profit (+160%YoY to 755k).

…as Cypriots go local for holiday Passenger traffic at Larnaca airport fell 6.2% in May and 1.9% in June 2006 while aircraft using the airport also registered a drop of 7.5% in May and 3.9% in June according to the Statistics Department, while cargo traffic was up 0.8% YoY. During June cargo traffic was down

Western Digital (WD), a leading worldwide hard disk drive manufacturer, has announced the opening of its new service center in Egypt to cater to customers in North Africa. WD will receive malfunctioning or defective drives through its authorized partners, validate the warranty terms and issue the RMA (Return Merchandize Authorization) number to the distributor, who

According to the Statistical Service Cystat, industrial output prices were stable in July, with the index reaching 122.4 (base 2000=100), the same as June 2006. However, industrial prices have generally been rising faster than inflation. For the period January-July 2006, industrial output prices rose by 4.7% compared with the same period of 2005. Consumer prices

Real GDP rose by 3.7% year on year in the second quarter and by 1.0% when compared with the previous quarter on a seasonally adjusted basis. The 1% quarterly growth rate was exactly that rate predicted by the Financial Mirror last June, although revisions to earlier figures have improved the prospects for the full year.

Hermes Airports, the new airport owner and operator announced a major overhaul of parking facilities and rates effective September 11, 2006, which introduce free parking for a limited 2-minute period, but also include price hikes of up to 300% for long term stay. Under the new rates, the first 20 minutes will be free. Anything