Almunia speech on euro changeover in Cyprus

By Joaquin Almunia Member of the European Commission, responsible for Economic and Monetary Affairs     Address at the “EMU Governance and Euro Changeover” Conference Nicosia, 30 November 2006   Ladies and

Sterling breaks above $1.95

Sterling broke through the $1.95 level for the first time in two years nearing its December 2004 high of $1.9550, beyond which the way will be open for an assault on the

German shipping group to buy Cyprus bank

The Central Bank of Cyprus (CBC) approved the acquisition of Universal Savings Bank Pcl (USB) by Schoeller Holdings Ltd and Path Holdings Ltd., the German based shipping groups based in Limassol. Schoeller

Louis 9M profits surge

Louis Pcl released its 9M06 financial results posting an 18% YoY increase in revenue to CYP 152.6 mln (EUR 265.2 mln). Despite the hike in oil prices, EBITDAR was recorded at CYP

CYP weakens vs. EUR

The Cyprus pound continued to slide against the euro, ending Tuesday trading at 0.5780 or 1.7300 in contrast to 0.5744 a month ago and this year’s high of 0.5721 or 1.7480. Seasonal

Marfin 9M06 profits surge 249%

Marfin Financial Group announced 9M 06 consolidated Net Profit after Tax attributable to shareholders of EUR83.2m, an increase of 249% yoy. These profits correspond to earnings per share of EUR 1.626 for

Bank of Cyprus denies Piraeus talk

Responding to certain press articles published in the Greek and Cypriot press, the Bank of Cyprus Group denied that it is engaged in talks to extend any cooperation with Piraeus Bank or

Options Cassoulides profits up 21%

Options Cassoulides Pcl (OPT) reported a 21.4% YoY increase in net profit attributable to shareholders in the first nine months of the year, failing to justify the 143% increase in the value