A leading banker believes that the Cyprus banking system, and subsequently the economy, is losing out big time because of the delays to pass a long overdue law on covered bonds. Marfin Laiki Bank’s CEO Efthymios Bouloutas told a press briefing on Thursday that he doesn’t see the relative legislation introducing the instrument being passed
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. Sit round a dinner table and talk about the world and pretty soon someone will criticise America. I suppose if you’re the biggest, richest kid on the block, you’re bound to get a bit of stick now and then. But we neglect the many often good influences of America in our lives: films, TV,
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Despite his wealth diminishing by some 300 mln dollars, John Fredriksen rose up the Forbes list of billionaires from 113th in 2008 to 88th position this year, with a personal fortune of $7.7 bln (€5.6 bln). The world's leading oil tanker tycoon was ranked 9th in The Sunday Times Rich List 2009 with a worth
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Financing from Marfin Laiki, future plans for Limassol Two leading developer-contractors, Cyfast of Nicosia and Quality Group of Larnaca, have established a joint venture to build and market a small housing project on the outskirts of the capital. CY-Q has 20 plots under development near the Nuevo Campo playground in Latsia, where as many as
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Two of the leading agricultural products suppliers in Cyprus, MS Jacovides and the Lanitis Group, have merged their farming and veterinarian supply arms into a new company called Agrolan. The merged company will incorporate all the business of Fertilan Ltd. from the NP Lanitis Group and Vetagrica Ltd. from the Jacovides Group and aims to
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Patrikios Pavlou & Co. advocates and legal consultants recently received four awards for their professional services in the domestic and international legal market. The four categories are: Best M&A Team 2010: Cyprus – for the best mergers and acquisitions team in Cyprus for 2010, by the World Finance Legal Awards; Regional Law Firm of the
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Limassol Marina Ltd., the owner-developer of the port-town’s most ambitious tourist development project, has awarded the management contract to Camper & Nicholsons Marinas. The marina is expected to welcome its first yacht in Autumn 2012 with construction work already underway to deliver the adjacent commercial and residential units, as well as a boat yard. Limassol
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Action Global Communications took one of the top prizes at a business awards ceremony in Nicosia last week. Established in 1971, the island’s first specialised PR company took the ‘In Business Award 2009’ for “Best Cypriot Company with Overseas Activities”. The company’s Director, Chris Christodoulou, took to the stage to receive the award, added to
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. Cyprus and the 2010 International Narcotics Control Strategy Report – Money Laundering and Financial Crimes BY GEORGE PAPANICOLAOU The International Narcotics Control Strategy Report (INCSR) report released in March 2010 does not include any of the vulnerabilities and weaknesses stated in last year’s report and presents the government of the Republic of Cyprus as
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. BY DR. PETROS SIVITANIDES In February, real estate sales activity (as measured by the number of sales contracts) in the island’s free areas continued the rising trend that started in November 2009, according to the latest data published by the Department of Lands and Surveys. In particular, the number of sales contracts in February
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