Apollo Investment Fund (APOL) announced that it will give 1.95 free shares for every 100 shares held in lieu of dividend from the total of shares that it has purchased during the last three years under its share buyback scheme. APOL, which is the only investment company to report profits for 2003 and 2004, amounting

The House of Representatives unanimously approved a bill allowing thousands of citizens to receive titles for their immovable property, which will also help raise additional funds for the state budget. The bill, proposed by independent deputy Demetris Syllouris and DISY MP Maria Kyriakou gives the right to citizens who have made minor alterations to their

The Cyprus Development Bank (CDB) has been rocked by multiple scandals involving deals made by its previous General Manager and members of the Board, who are serving now. Members of the House Watchdog Committee met behind closed doors to hear allegations of mismanagement, which led to CYP 20 mln in losses in 2003 as a

The Board of Directors of Pharmakas Quarries (PHA) reviewed the public offer document submitted by Gerik Investments Limited and related parties for the acquisition of up to 100% of the issued share capital and based on the recommendation received from the independent experts, CLR Securities & Financial Services, has decided to back the deal considering

The government is planning to slap a 10% tax on all telephone bills as part of the attempt to raise up to CYP 18 mln to cover the budget hole, which in the process will more than offset the planned rate reductions by CyTA. According to Politis, the government is proposing the introduction of a