Buziba Ltd announced that further to the announcement dated June 13, 2008, it has proceeded with a squeeze out for the acquisition of the total shares of Astra Self Drive Cars Public Ltd. According to the law, Hellenic Bank (Investments) Ltd, as Underwriter, has paid the consideration to the shareholders of Astra, which stood at
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The ECB increased, as widely expected, the official rates by 25 BP after Thursday’s meeting. As a result, the upcoming weekly refi operations, settled on July 9, will be conducted at a minimum bid rate of 4.25%. The post-meeting statement was less hawkish than Citi analysts expected. The statement did not repeat that the governing
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President of the Republic Demetris Christofias has welcomed the significant number of important Russian companies based in Cyprus and assured that he would continue to make their operations from here “as comfortable as possible''. Addressing the 18th International Business Conference “Russia and Emerging Markets: Ways to avoid global financial crisis”, in Limassol, organised by Otkritie
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Professor Michael Economides, a Cypriot born expert on energy issues has said the option available for Cyprus when considering to import natural gas for its energy needs, is compressed natural gas (CNG). “Anybody talking about importing liquefied natural gas (LNG) is making assumptions without justification, since LNG does not make economic sense and it will
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CyprusTransport Minister Nicos Nicolaides ordered Hermes Airports, the manager and operator of Cyprus’ two airports to force the two companies handling ground facilities to put their houses in order, otherwise he warned he would shut them down. Zacharias Koulias, Chairman of the House Communications Committee said the situation hit crisis point on Tuesday when ground
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Cypriot entrepreneurs: Be outward looking Business tycoon Theo Paphitis has decided to set up a commission to study ways with which the private and public sectors can join forces to alleviate one of the most difficult challenges facing Cypriot business – lack of funding. Paphitis who appeared at various functions hosted by the Institute of
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Judging from the hysteria reported in part of the media about a handful or two of doctors at the Nicosia General Hospital heading for the private sector, would suggest that Cyprus media has officially entered what is commonly known as “the silly season”. The fact that eight government doctors (out of several hundred) left the
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Traditionally, low risk or risk adverse investors and those that require a regular income have either invested solely in bonds funds or held them as a lion's share within their portfolio. Over the last year, many retired people who depend on the income payments that they receive from bond funds have seen their high Income
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By Patrick Elston Within hours of the roof collapse at the Nicosia Municipal Theatre, Cyprus was awash with “authoritative” rumours as to the cause of the incident and the identity of the person whose head would duly roll as a result of personal responsibility for the occurrence. As is common with gossip and rumour most,
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The European Central Bank raised interest rates for the first time in more than a year on Thursday, in a widely expected quarter percentage-point move which took benchmark rates to 4.25%, the highest level since September 2001. The ECB acted after euro zone inflation accelerated to 4.0% year-on-year last month, more than double the bank's
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