British Deputy Prime Minister and First Secretary of State, John Prescott, will visit Cyprus from October 24 to 26. The visit will be held ahead of the informal European Council on the future of Europe to take place in Surrey, London, on October 27. An official statement said Prescott will be received by President of
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The Securities & Exchange Commission approved the application filed by Bank of Cyprus Public Co. Ltd. to proceed with the publication of its prospectus for the rights issue, aiming to raise CYP 110 mln. SEC Chairman Marios Clerides told the Financial Mirror that the application was approved, meaning that the BOC shares will trade ex-rights
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Bank of Cyprus announced that following the green-light from the SEC regarding its rights issue, the following timetable will aplly. BOC made particular mention that the prospectus is not for release in any form in the US, Canada, Australia, South Africa, Japan or any other country where its laws prohibit such sales. The official timetable
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The Cyprus government announced a package of measures Friday, totalling CYP 102 mln (EUR 175 mln) in the form of state aid to low- and middle-income families. President Tassos Papadopoulos said that the aid is in the form of monthly grants and increased benefits for the 2005-2006 period to pensioners, rural households, underprivileged people, single
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Passengers from two inbound flights were forced to disembark in the middle of the Larnaca airport runway Friday, when airport workers staged an impromptu strike at 1pm local time (1000 GMT). Police escorted the passengers along the one-kilometre walk to the main terminal in order to collect their luggage as all airport workers employed by
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The Monetary Policy Committee of the Central Bank voted 3-2 to keep interest rates stable during its routine meeting on Friday. According to Central Bank Governor Christodoulos Christodoulou, 3 members voted to maintain rates at the same level, while two members voted for another cut in interest rates. The results were the same as the
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Bank of Cyprus shares trading on the Athens Stock Exchange tumbled 2.46% on Friday to end at EUR 4.76 or CYP 2.72, essentially closing the premium at which they have been trading compared to their price on the CSE, which on Friday closed at CYP 2.72. The closing of the gap may indicate a turn
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