Christis Dairies (CDL) reported a huge loss when reporting its 2004 preliminary results on the back of falling sales, and extraordinary losses sustained from the termination of unprofitable activities. Christis reported that total turnover, including exports fell 3.4% year-on-year to CYP 23.22 mln from CYP 24.04 mln in 2003, with operating profits declining sharply to
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The 10% decline of the CSE GENX index during 2004 forced the results of Laiki Investments (LI) to remain in the red, but prospects for 2005 look good in view of the rebound in equity prices and increased volume traded on the exchange. Laiki Investments (LI) reported that total income during 2004, based on the
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The Cyprus Union of Shipowners, recently established from the merger of three other shipowner associations, is on track to realise the long time ambition of many in the trade to set up a Chamber of Shipping. “This will be achieved towards the end of this year or in early 2006 for sure,” said Michael Ioannides,
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Equity prices on the Cyprus Stock Exchange (CSE) nose-dived 3% on Friday following a sharp decline witnessed in the shares of Bank of Cyprus trading in Greece. The stamepede for the exits started on Wednesday when BOC shares trading in Greece dived from EUR 3.34 to EUR 3.22, and then followed down to touch an
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Acting President of the Cyprus House of Represetnatives Vasos Lyssarides has expressed the discontent and indignation of all the parliamentary parties with respect to the arrival in the Turkish occupied north, through an illegal port of entry, of a US official, who is accompanying a business delegation representing American companies in Turkey. “This action completely
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Turkish Cypriots go the polls on Sunday for early parliamentary elections. But while the results will come out very quickly–as soon as Sunday night–the formation of a coalition will take rather longer. The proportional representation voting system means that parliamentary arithmetic will have a strong influence on how stable the coalition will be. A too-small
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China is giving no hints about whether it is responding for the call by Cyprus President Tassos Papadopoulos for France, China and Russia to get more heavily involved in the Cyprus problem as UN Security Council permanent members. Asked about the stance of China on the Cyprus issue, a spokesman for the Chinese Ministry of
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