Marfin Egnatia have increased their price target on Petrolina (Holdings) Pcl to EUR 0.95 per share after the company posted a strong set of FY07 results with net profit increasing by 59.8% to EUR 12.36 mln. The improved profitability is primarily attributed to the higher volumes sold via PHL’s filing stations, the significant improvement in
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Orphanides Pcl reported a 63% YoY decline in net profit for 2007 to EUR 1.48 mln, with sales and profitability burdened by high renovation and finance costs. Sales came in lower by 2.4% yoy to EUR 139.5mln, despite the higher number of retail outlets operated in FY07. This is attributed to the sub-optimal operation of
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A Taliban threat to attack Afghan telecoms companies is the latest sign of paranoia from militants who fear their mobile phones will betray their hiding places, according to a Reuters news report. The Islamist militia gave mobile operators a three-day ultimatum to shut down their networks at night or face attacks on their towers and
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Britain‘s communications regulator has warned O2 to speed up the rollout of its third generation (3G) mobile network or risk a reduction in the length of its licence. Any reduction in O2’s 3G licence could equate to a financial sanction of at least 40 mln pounds, Ofcom said, adding that it wanted to see O2
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By Marcin Grajewski and Ilona Wissenbach BRUSSELS, Feb 28 (Reuters) – European Union energy ministers debated on Thursday the best way to separate power supply from transmission networks after surprise news that Germany’s E.ON, the world’s biggest utility, is planning to sell off its grid. The EU has agreed in principle to liberalise its wholesale
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The dollar found a steadier footing on Thursday after having slumped to a record low against a basket of currencies, and both gold and oil took a breather as investors cashed in on the recent run to all-time highs. A mixed bag of corporate results kept European stock markets under a bit of pressure with
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Liechtenstein’s Prime Minister Otmar Hasler said on Thursday that his country aimed to conclude a tax fraud agreement with the European Union, in the midst of a tax evasion scandal concerning the alpine country.” With respect to the current tax policy questions that are broadly and controversially debated in Europe, we want to play our
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European Union Health Commissioner Markos Kyprianou has been appointed Foreign Minister of Cyprus in the new cabinet of communist AKEL party leader Demetris Christofias who was elected present in last Sunday’s runoff elections with 53,35% of the vote, against Euro MP Ioannis Kassoulides. The new president takes his oath of office in the House of
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The European Commission has asked EU leaders to confirm, at next month’s summit, the guiding principles on financial stability both within and outside the Union.A Commission press release said the ECOFIN Council agreed in October 2007 a road map for reinforcing European and global financial regulation and supervision to fill the gaps revealed by recent
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Bank of Cyprus shares fell sharply by more than 8% on Thursday after foreign analysts reduced their price targets on the shares after the disappointing profit growth forecast made by the Bank with respect to its 2008 profit target. During the presentation of the 3-year Strategic Growth Plan, Bank of Cyprus management promised a moderate
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