International Banking Units operating in Cyprus had USD 3.9 bln in deposits by end of May 2005 for a 6.4% year-on-year gain on May 2004 figures, while since the start of the year, total deposits at all IBUs are up USD 858.5 mln. According to figures released by the Central Bank, total advances by all
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Cyprus and Britain agree in many issues concerning the economic development of the European Union, Cypriot Minister of Labour and Social Insurance Christos Taliadoros and British High Commissioner to Cyprus Peter Millet stated today. During their meeting they discussed employment and social matters concerning both countries as well as the European Union as a whole.
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The Cyprus Supreme Court on Friday issued a ruling on that will force the dominant state-owned telecoms provider CyTA to reverse price-cuts for mobile telepony calls that have been effective since April, after CyTA refused to comply with an earlier interim order. In response to a complaint filed by CyTA’s rival, areeba, the Competition Commission
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Under pressure by Turkey and hundreds of lawsuits filed by Greek Cypriots, the Turkish Cypriot administration of Mehmet Talat is now considering a number of options, mostly suggested by Turkey to break the property deadlock issue. A week ago, the well connected Hurriet reported that the Turkish Foreign Minister Abdullah Gul had asked Talat to
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The CSE Council ordered the suspension in trading of the titles of Chris Cash & Carry Ltd. (CHR) after Guedo Holdings Limited announcesd that the Public Offer Document submitted for the acquisition of the compay was successul. The public tender document expired on 29 July, and according to the company, the total percentage of shares
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Muskita Aluminium Industries Pcl (MAI) has issued a negative profit warning on its first half results, due August 25, 2005 on the back of increased depreciation charges from the operation of the Company’s new production plant. In a flash note made on MAI, Egnatia Financial Services expects total turnover to increase by 6% year-on-year to
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Laiki Investments (LI) recorded a spectacular turnaround in first half results on the back of higher dividend income, increased profits from investment activities as well as its ability to contain overheads. LI reported that dividend income doubled to CYP 332k, while interest income was up sharply at CYP 585k, helping lift total income to CYP
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