The future of Olympic Airlines is in doubt followinf a European Commission declaration on September 14 that a number of measures taken by the Greek State which gave an unfair advantage to Olympic Airways and Olympic Airlines, the new company which has taken over its flight operations, were illegal. This decision closes the Commission investigation,

The Board of Directors of the Bank of Cyprus has decided to proceed with a share capital increase in the form of a Rights issue in the ratio of 1 for every 6 shares at the price of CYP 1.40 or EUR 2.461 in a bid to raise CYP 110 mln (EUR 193 mln) in

Bank of Cyprus shares continued their specactular rally, closing at yet another record high of EUR 4.12 or CYP 2.36 in Greece on Thursday in brisk trading, while in Cyprus the price closed also at a record of CYP 2.29. Total volume on the BOC shares in Greece hit 1.74 mln for a value of

Ermes Department Stores Ltd, a member of the Shacolas Group that owned by the listed companies Cyprus Trading Corporation Public Ltd and Woolworth (Cyprus) Properties Public Ltd, announced that it had full insurance cover and thus there was no loss from last week’s robbery. The group said that its Ermes Olympia store in Limassol which

Cypriots spend 10% more on their credit cards in the first eight months of this year compared with the same period of 2004, according to figures from the credit card processing company, JCC. Purchases by Cypriots within Cyprus amounted to CYP 415.8 mln in January-August, while purchases in August alone rose by 13% to CYP