Bank of Cyprus Group will proceed with an issue of new shares to existing shareholders (Rights issue) towards the end of the year of approximately CYP 100 mln, Group CEO Andreas Eliades said. The timing and the specific terms of the issue will be announced as soon as the European Directive 2003/71/EC on the prospectus

Muskita Aluminium Industries (MAI) reported a 14.4% reduction in net profits during the first half of the year on the back of higher depreciation charge and as a result of the increase in the value of the dollar and fuel costs. MAI’s turnover increased by 4.5% to CYP 14.5 mln from CYP 13.87 mln mostly

Bank of Cyprus Group (BOC) managed to beat market expectations, reporting CYP 31.3 mln in first half profits, up 97.5% from CYP 15.9 mln a year ago in the same period, and CYP 2 mln above analyst expectations forecasting gains of CYP 29.3 mln. Core profit (profit before provisions for bad and doubtful debts and

The island’s banks are close to a three year contract deal with the bank employees union, ETYK, similar to the collective renewal deal reached earlier by the government and the civil servants union. Vassilis Rologis, Chairman of Bank of Cyprus told reported during the presentation of the first half results that the eight month dialogue