The Economic Intelligence Unit (EIU) forecasts that the growth rate of GDP for 2005 will reach 3.8% vs. 3.7% in 2004, according to its Country Report on Cyprus. Additionally, the EIU forecasts inflation rate to reach 2.3%. However, EIU analysts supported the view that the Cyprus economy is vulnerable to the continuous rise in oil

The trade deficit in the first half of 2005 was up 1.2% to CYP 1.04 bln, according to figures released by the Statistics Department. Total imports/arrivals for the period January – June 2005 increased by 5,0% to CYP 1.353,1 mln, compared to CYP 1.288,9 mln in January – June 2004. Total exports / dispatches for

The Board of Directors of Petrolina Holdings hiked its interim dividend to 2.5 cent per share from 0.8 cent a year ago and 1.4 cent for the whole of 2004 on the back of a sharp increase in first half profitability. The 2.5 cent interim dividend, representing a yield of 6.5% was open to all

Libra Holidays Group Pcl (LHG) issued a negative profit warning following Helios Airways’ aircraft crash on 14 August 2005. Helios Airways Ltd is a wholly owned subsidiary company of LHG. The management of LHG will issue a more detailed statement concerning the impact on its financial statements at a later stage. LHG reported Net Losses