The President of the European People’s Party (EPP) Wilfred Martens urged local leaders in Nicosia yesterday to find the political will for a solution, saying that it is not only the international community that can find an agreement. “It is urgent to find a solution. Not to accept the period of stagnation, that worsens the
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The Minister of Finance, Michalis Sarris, announced earlier this week that a bill was being drafted to transform semi-government organisations into publicly owned companies. Although privatisation of semi-government organisations is off the agenda, thanks to a communist-dominated coalition, the transfomation should allow the organisations more freedom. Instead of acting like government ministries, with orders from
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Greek President Karolos Papoulias wrapped up his four-day official visit to Cyprus on Wednesday, pledging his country’s support in the struggle for a solution to the Cyprus problem. In a statement before departing, Papoulias spoke of the “Turkish barbarism on the island”, saying that he was “very encouraged by the discussions he had with President
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Seasonally adjusted industrial production rose by 0.8% in the euro-zone2 in August 2005 compared to July. Production increased by 0.1% in July3 and by 0.5% in June. In the EU25 output rose by 0.3% in August 2005, after increases of 0.1% in July3 and 0.6% in June. In August 2005 compared to August 2004, industrial
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The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Bayerische Hypo- und Vereinsbank AG (“HVB”) by UniCredito Italiano S.p.A. (“UniCredito”), both of which offer a wide range of financial services in several European countries. After examining the operation carefully, especially in the Member States where both merging parties have significant
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Bank of Cyprus shares continued their advance, gaining another 1.5% in Cyprus and 5.2% in Greece to fresh record highs, as the euphoria of a successful rights issue, plus bullish expectations for a strong third quarter performance and in anticipation of a bullish report by Morgan Stanley combined to push the stock higher. BOC shares
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A Danish national who is accused of setting up a lucrative online fraud scheme has been extradited from Spain to German, prosecutors in the port city of Hamburg said Thursday. He allegedly ran two companies that obtained telephone numbers and addresses of German web users and set them 200,000 bills for alleged use of pornographic
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Eastman Kodak, the Rochester-based pioneering U.S. manufacturer of film and cameras struggling to keep up with digital photography, reported quarterly losses of 1 bln dollars, compared to earnings of 458 mln dollars in the third quarter last year. The losses were based on tax write offs of 900 mln dollars prompted by the steady losses
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