A new website unveiled in London will provide an interactive point of reference for anyone seeking information on major political developments affecting Cyprus, UK-Cyprus relations and the activities of British Cypriots. Launched by the National Federation of Cypriots in the UK, www.cypriotfederation.org.uk went live Wednesday morning. The new site provides a wealth of information about
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The Bank of Cyprus (BOCY.CSE) announced on Thursday it had clinched a deal to buy 80 percent in Russia's Uniastrum Bank for $576 million as part of its strategy to expand abroad. The bank said it expected the acquisition to be concluded in the fourth quarter of 2008, after regulatory approval. "This is the most
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SFS Group Public (SFS) urged the Cyprus government to switch plans for importing Liquid Natural Gas (LNG) to Compressed Natural Gas (CNG), saying it would be more economical and faster. The public listed company said it was ready to cooperate with the government on bringing CNG to Cyprus, and is also opening a debate on
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Bank of Cyprus Public Company Ltd announced that the Cyprus Securities and Exchange Commission has approved on 25th June 2008 the Securities Note and the Summary Note for the issue and listing on the Cyprus Stock Exchange and Athens Exchange of up to 573.409.701 Convertible Bonds of nominal value EUR1,00 each. The Cyprus Investment and
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The Cyprus economy is expected to grow between 3.5% to 3.7% in 2008, Charilaos Stavrakis, Minister of Finance, has said. “Under the current circumstances, the rate of economic growth is considered satisfactory, consistently above the EU27 average,” he added. Speaking at an event organised by the Cyprus Branch of the Institute of Directors, Stavrakis noted
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The Malta Financial Services Authority and the Central Bank of Cyprus (CBC), expressing their mutual interest and willingness in establishing and promoting bilateral ties in the domain of supervision of credit institutions, have recently signed a Memorandum of Understanding. According to a CBC press release, the Memorandum was signed on behalf of the Central Bank
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The Cyprus Tourism Organisation announced today an agreement it has reached with Cypriot tennis champion Marcos Baghdatis. “Cyprus has already gained a lot from Baghdatis’ international wins and the agreement aims at exploiting the athlete’s international reputation,” in the world of tennis, the press release added. The Cypriot tennis player won the Beijing 2006 Open,
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Anheuser-Busch Cos Inc plans to reject InBev NV's unsolicited $46.3 billion takeover offer, saying it undervalues the company, a source familiar with the situation said. Anheuser-Busch, the brewer of Budweiser beer, and InBev, the maker of Stella Artois and Beck's, could not be immediately reached for comment. In rebuffing InBev's offer, Anheuser-Busch plans to map
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The economy grew at an upwardly revised 1.0% annual rate in the first three months of 2008, helped by stronger consumer spending and exports, a Commerce Department report showed. The department had estimated a month ago that gross domestic product, or GDP, grew at a 0.9% rate. GDP measures the total output of goods and
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Europe's fourth-largest bank UniCredit laid out bold plans for growth in central and eastern Europe (CEE), where it is already the biggest lender, while cutting back on jobs in western Europe. In a two-tier strategy for 2008-2010, Italy's second-biggest bank in terms of retail branches said in a statement it would open 1,300 outlets in
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