The cap on rent increases has been lowered from 14% every two years to 8%, according to a recent Council of Ministers decision. The last date for landlords to impose a 14% increase on rent contracts is today, April 22. The Association of Real Estate Owners (KSIA) said this was an unfair decision and one
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The executive committee of the World Federation of Consuls (FICAC) will hold its next meeting in Cyprus on April 24-27, following the invitation from Cyprus committee member, Costakis Lefkaritis. The meeting, to be held at the Four Seasons in Limassol, will deal with issues related to consular officials around the world, including their positions and
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IPO date to depend on market conditions ITTL Trade Tourist and Leisure Park Ltd. (ITTL) plans to raise EUR 13.1 mln from the proceeds of a new share issue in order to finance the operation of two new buildings located within the Shacolas Emporium Park near Nicosia as well as to reduce debt, but the
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Stario surges as it changes hands Cyprus investment company losses narrowed to only EUR 18 mln in the first quarter of 2009 following the rebound in equity prices since they touched their all-time low on March 6. But on a year-on-year comparison, the losses continued to be significant. According to the exclusive survey carried out
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European shares rose by midday on Thursday as gains for bank Credit Suisse and energy stocks offset slides for engineering group ABB and chemicals maker Akzo Nobel. The FTSEurofirst 300 index was 0.6 percent higher at 800.05 points by 1200 GMT. The benchmark fell as much as 1 percent in early trade but recovered as
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British bank Barclays Plc said its first-quarter financial performance was well ahead of the same period last year, and confirmed it intends to resume paying dividends in the second half of 2009. "We've had a good start to the year," Barclays Chief Executive John Varley said in a speech at the bank's annual shareholder meeting
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Investors generally put aside recent worries about the world economy and banking industry woes on Thursday, sending global stocks higher and reversing safety flows into the Japanese yen. Mixed earnings plagued European markets, however, with Credit Suisse (CSGN.VX) posting better-than-expected profits and engineering group ABB (ABBN.VX) missing forecasts and giving a cautious outlook. Euro zone
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European shares drifted lower in early trade on Thursday, weighed by poor results from Swiss engineering group ABB, though Credit Suisse jumped after the size of its first-quarter profit surprised investors. At 0837 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 793.68 points after falling as low as 787.56
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* Stock index futures pointed to a higher open for Wall Street on Thursday, after iPhones maker Apple beat forecasts with its quarterly profit overnight. * At 0923 GMT, futures for the Dow Jones, S&P 500 and Nasdaq were up between 0.7 and 1.3 percent. * The FTSEurofirst 300 index of top European shares was
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Euro zone businesses stepped up job cuts this month even though they are cautiously optimistic about next year, a survey showed on Thursday, and mixed news on major banks suggested recession is far from over. Credit Suisse beat forecasts with its quarterly profit, offering markets some relief after news of heavy losses suffered by top
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