…dividend raised to EUR 0.44 Bank of Cyprus announced its 2007 results, lifting net profit by 55% YoY to EUR 485 mln from EUR 313 mln in 2006. The ratio of non-performing loans to total loans has improved from 5,6% at 31 December 2006 to 3,8% at 31 December 2007, achieving two years earlier the

Bank of Cyprus is forecasting that net profit for 2008 will increase 11% YoY to EUR 540 mln but thereafter profit growth in 2009 and 2010 will increased at a 25% annual pace with the total profit target for the period 2008-2010 at EUR 2 bln. On the occasion of the announcement of the strategy

Eye of Dubai, the premier tourism and investment guidebook and online portal for Dubai residents and visitors, has announced that it will intensify its strategy to boost travel and tourism in the UAE to leverage the favourable results of the World Economic Forum’s (WEF) first annual Travel and Tourism Competitiveness Index (TTCI), which ranked the

Lycos Europe N.V., one of the leading European portal providers and online advertisers, published its consolidated financial statements for the year ended December 31, 2007 with EBITDA for the year amounting to a loss of EUR 18.2 mln compared to a loss of 4.6 mln in 2006. The main reasons are the negative advertising revenue

Banks and financial institutions in the Middle East are expected to invest USD 2 bln on IT solutions to protect financial transactions in 2008 and 2009, a significant portion of which will be spent on anti-money laundering software and technology, according to the Middle East and North Africa Financial Action Task Force. This reflects the

Deutsche Bahn Netz AG and Nokia Siemens Networks have signed a framework agreement to expand the GSM Railway (GSM-R) communications along an additional 7,000 kilometers of the passenger rail routes. The system carries signaling and operational information directly to the driver, enabling higher speeds and greater traffic density with improved safety. Additionally, by replacing all

The Islamic finance market has grown by 15% in each of the past three years, partly as a result of the increased wealth in Islamic countries, which in turn was driven by high oil prices, Moody’s Investors Service said in its special report “2007 Review & 2008 Outlook: Islamic Finance”. Looking ahead, Moody’s said that

“Forbes Arabia” magazine has issued a new list entitled “Da’awa Stars”, in which it ranked Islamic religious preachers/scholars with the highest incomes for 2007. According to the list, Egyptian preacher Amr Khalid tops the ranking with USD 2.5 mln net income, followed by the Kuwaiti preacher Tariq Swidan with USD 1 mln, Saudi Arabia’s Ayed

Anheuser-Busch management reviewed the company’s strategies to accelerate U.S. beer sales and profitability, and reaffirmed the company’s 7 to 10% long-term earnings growth objective, in a presentation given at the Consumer Analyst Group of New York Conference. “Our top priority in 2008 is to accelerate core beer sales and profitability,” August A. Busch IV, president

The outlook for the Estonian banking system is negative, reflecting the growing risk of a decline in the asset quality and/or liquidity in light of the rapid growth in loans in recent years, Moody’s Investors Service said in its new Banking System Outlook for the Baltic nation. It also reflects Moody’s latest outlook change for