PrimeTel, the alternative telecom provider that recently secured the third Cyprus mobile license, has slashed its monthly subscription rates for 3-Play and 4-Play packages by 17% and 13%, respectively. “When there is financial insecurity, key organisations should take the lead and try to relieve people in difficult times and that is our primary concern here
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* Wargaming, Demetra favoured suitors with joint 60 mln bid * The Cyprus Stock Exchange suspended the Hellenic Bank stock for a third day on Friday as major investors showed interest to inject 36 mln euros the lender fell short in its recent 294 mln recapitalization plan. With the stock price ranging between 4.7 and
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Asia's factory sectors grew at their fastest pace in months in October led by China, providing some signs of a pick up in global demand as export orders expand. China's official purchasing managers' index (PMI) rose to an 18-month high and South Korea's HSBC index pointed to expansion for the first time in five months.
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Unemployment in Cyprus recorded a new high in September 2013, reaching 17.1% or 76,000 persons compared to 16.9% or 75,000 persons in August, according to data released today by Eurostat. At the same time Cyprus recorded the highest increase among EU member states since September 2012, from 12.7% or 56,ooo persons to 17.1% or 76,000,
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Euro area annual inflation is expected to be 0.7% in October 2013, down from 1.1% in September, according to a flash estimate from Eurostat. It said that by looking at the main components of euro area inflation, food, alcohol and tobacco is expected to have the highest annual rate in October, followed by services, 1.2%
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Discussions a Troika delegation is having at the Central Bank concentrated on issues concerning the Hellenic Bank, the Central Bank announced Thursday. Central Bank Spokeswoman Aliki Stylianou, in a written statement, said a meeting took place with the Hellenic Bank’s Executive Officers, during which they examined the procedure to recapitalize the bank and cash flow
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Lotus F1 driver Romain Grosjean scaled new heights in Dubai with a visit to the top of the spire of Burj Khalifa, the world's tallest building, developed by Emaar Properties, official partner of the Lotus F1 Team. Grosjean took up the exciting new challenge during his recent visit to Dubai, where he spent three hours
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A portable device that makes fire from water has been developed within a European research project. It doesn’t use flammable gases, it produces its own fuel as needed. Andrew Ellis, a research technologist with ITM Power, explained: “This is an electrolyzer system we’ve got here. It’s been developed to use a standard mains electricity supply,
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The Independent Commission on the Future of the Cyprus Banking Sector has today published its Final Report laying out recommendations for the recovery of the Cyprus banking industry. The Report was commissioned by the Central Bank of Cyprus, and is the result of a year-long inquiry and more than 100 interviews in Cyprus and abroad.
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The Cyprus banking sector, that has been growing aimlessly over decades and reached nine times the island’s GDP before crashing this year, needs to adopt a new strategy for the future, as the economy relies heavily on funding from banks. But in order to do that, experts believe that a single “banking czar” would be
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