Paphos airport on the southwestern coast of Cyprus remained shut Friday after a German charter aircraft was stranded on the runway when its tyres blew as it landed on Thursday evening. None of the passengers were reported hurt, but all other flights from the airport that serves mostly chartered flights of tourists were diverted to

Piraeus Bank announced that its combined direct and indirect stake in the capital of Bank of Cyprus Pcl (BOC) has reached 7.5% by yesterday and judging from heavy volume on BOC shares on both the ASE and the CSE, the Greek bank must be fast approaching the 8% holding level. BOC was well bid on

The Commission for Protection of Competition (CPC) appears to have engaged in a major exercise to confuse the public following its decision late Thursday that the preliminary deal signed between CYTA and LTV is anti-competitive whereas the real agreement will likely be approved. The decision, which received wide publicity in the press refers only to

Buoyant economies and open borders have been driving IT investments in central and eastern Europe, according to a report published by IDC, one of the largest companies dealing with research on the information and communicatiosn technology market. IDC projections suggest that in 2009 spending on IT products in the region will exceed USD 40.5 bln,

Cyprus Airways has accepted the Government’s proposal for the acquisition of 100% of the share capital of its subsidiary, Eurocypria Airlines Ltd, by the State against the sum of CYP 13,425,000, which represents the market value of the Company. The sale price was agreed taking into account two valuations carried out by PricewaterhouseCoopers on behalf

Bank of Cyprus Public Co. Ltd. has called an Extraordinary General Meeting of shareholders that will be held at the International Conference Centre in Nicosia, Cyprus on 28 July 2006 at 6.00 p.m. during which the Bank will ask for shareholder approval to increase the capital by up to CYP 300 mln. A number of

The Commission for Protection of Competition (CPC) ruled late Thursday that the preliminary deal signed between CYTA and LTV is anti-competitive and cannot proceed in its present form. CPC Chairman George Christofides was called to rule on the deal initiated between CYTA and LTV on February 13, 2006 according to which LTV would supply content