— Higher 2Q earnings to boost 2006 profits Louis plc, the biggest tourism group in Cyprus, reported higher second quarter gains, with profits attributable to shareholders making a significant turnaround from a loss of CYP 228,000 (EUR 401,000) during the same period last year to a profit of CYP 5,6 mln (EUR 9,8 mln) this

The GDP growth rate in real terms during the second quarter of 2006 is estimated at 3,7% over the second quarter of 2005, the Statistics Service reported. In the first quarter, GDP was up 3.3% Y/Y, while the Q2 GDP compared to Q1 2006 showed an acceleration of 1% QoQ basis. Indicative indices on the

Bank of Cyprus Pcl Chairman Vassilis Rologis tenders in his resignation following a major board battle on Thursday after intense reports of short-comings and responsibility over the way the Emporiki bid was made and then withdrawn. In a signed letter released by the office of Rologis, a copy of which has been obtained by the

…No problem with Sivet Marfin Financial Group Vice-Chairman Andreas Vgenopoulos is confident about the future prospects of the Laiki Bank Group, in which Marfin is the single largest shareholder and intent to continue increasing its stake. Asked by the Financial Mirror to comment on the way the 2.308.872 shares of Laiki were transferred on Thursday

First half exceed last year’s profit Cyprus’ four banks listed on the CSE continued to surprise on the upside by delivering a strong set of first-half results, with their combined profit jumping by 181% YoY, but also exceeding the total profits delivered for the whole of 2005. For the first time in more than four

$22 mln deal to get 80-90% finance from banks Louis plc is taking delivery of the 850-passenger Orient Queen, the five-star cruise liner chartered by the U.S. Dept. of Defence to evacuate several thousand Americans from Beirut in July. The deal comes a week after Louis concluded a franchise agreement with Stelios Haji-Ioanou’s easyCruise to