The European Central Bank held its main interest rate steady at 4 percent as expected on Thursday amid rising inflation and slowing economic growth. The ECB has threatened to raise rates as workers demand bigger pay increases to compensate for the higher cost of living. Signs of slowing growth in the 15-nation euro region are
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The Statistical Service has announced that the number of building permits authorised by the municipal authorities and the district administration offices during October 2007 stood at 797. The total value of these permits reached CYP 144.4 million and the total area 318,100 square metres. These building permits provide for the construction of 1,775 dwelling units.
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Eutelsat Communications, one of the world’s leading satellite operators, has selected EADS Astrium to deliver its first satellite operating exclusively in Ka-band frequencies. The satellite will form the cornerstone of a major new satellite infrastructure programme that will significantly expand capacity for consumer broadband services across Europe and the Mediterranean Basin, while providing new opportunities
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PSA Peugeot Citroen sold 3,428,000 vehicles and CKD units in 2007, up 1.8% from2006, the company announced in Paris Tuesday. This performance reflects a 3.8% increase in vehicles sales – led by an 11.1% rise in international markets and a return to growth in Europe, where unit sales rose 1.2% – offsetting a 22.5% decline
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Mergers and acquisitions involving Cypriot companies reached EUR 2.59 bln (CYP 1.52 bln) last year, falling short of the 2006 M&As by EUR 350 mln, but with the number of deals in 2007 doubling from the year earlier, with the emphasis once again on the banking sector. A total of 92 deals were announced  in
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— Impact “not damaging†because of loopholes  The Finance Ministry in Moscow has placed Cyprus on a black list of jurisdictions deterring Russian companies from registering here and then repatriating their dividends tax-free back home. Despite this negative development, experts told the Financial Mirror that the impact is not that great, since foreign companies
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The election campaigning period in Cyprus could not have come at a better time, as the parallel campaigns held in the U.S. primaries in the run-up to selecting the two main candidates have given us a lot of food for thought. The issues at hand are not the political differences and whose electioneering platform is
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TUI AG has decided to launch an equity-linked financing in shares of TUI Travel PLC using a part of its stake in TTP. The initial issue size of the financing will be EUR 450 mln but may be increased at the option of TUI by up to EUR 50 mln to EUR 500 mln. TUI
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Eli Lilly & Co. announced that the U.S. Food and Drug Administration (FDA) has approved Cialis (tadalafil) for once daily use (2.5 mg and 5 mg), an oral medication taken once per day to treat erectile dysfunction (ED). When Cialis for once daily use is taken daily, men can attempt sexual activity at anytime between
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Rolls-Royce announced that Thai Airways International has selected the Trent 700 to power a new fleet of eight Airbus A330-300s, in a deal worth around $300 mln at engine list prices. The aircraft are due to be delivered from 2009 onwards. In addition, the engines will be covered by a 10 year TotalCare long term
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