As the island’s three largest banks scored a massive improvement in their core profits during 2004, with Bank of Cyprus and Laiki reporting a spectacular improvement in net profits, the high level of non-performing loans (NPLs) continues to weigh on the bank results, leading to possibly new downgrades during the year. Boosted by a spectacular

The Economic and Financial Affairs Council ECOFIN has praised Cyprus for its convergence programme, describing it as “aspiring but plausible” towards its aims to restore the budget deficit below three percent of the Gross Domestic Product. During Tuesday’s meeting in Brussels, Finance Minister Makis Keravnos noted that the budget deficit had fallen to 4.2% of

No news on the PSP yet Gibareio Ltd., sole official distributor of all Sony gaming products (PSone, PlayStation2, PSP) is launching the Gran Turismo 4, dubbed “the Real Driving Simulator” during a celebration event at the Heaven Lounge and Cafe Bar at Galaxias Centre in Nicosia, tonight at 7pm. The event, that coincides with GT4’s