The Cyprus House of Representatives after a three-day debate approved late Thursday the state budget for 2008, Cyprus‘ last budget in Cyprus pounds as the country adopts the euro as of 1st of January 2008.The budget provides for revenue of CYP4.13 bln and expenditure of CYP4.41 bln. The budget was approved by 37 votes in

Cyprus and Malta will adopt the euro from January 1, 2008 bringing to 15 the number of European Union countries that share the same currency. The final practical preparations are well under way and banks, retailers and consumers seem to be ready for the changeover. Banks and enterprises have been receiving supplies of euro banknotes

The CSE Council announced the transfer of the titles of Vision International People Group Public Ltd from the Main Market to the Alternative Market due to its compliance with the procedure for the transfer to a market with less strict criteria. Its titles will start trading in the Alternative Market on Friday, December 28, 2007.

The Board of Directors of Muskita Aluminium Industries Plc decided the appointment of former Minister of Finance Takis Klerides as new independent, non-executive Board member.  Takis Klerides served as Minister of Finance from 1999-2003 and he is a certified accountant and a Fellow Charter Certified Accountant of the United Kingdom.  He is also been a

Logicom announced that the exercise of Rights pursuant to the Prospectus dated September 26, 2007 has been completed with the issue of 6,173,300 new shares. The total capital absorbed by the Company stand at CYP4.03 million (EUR6.88 million). As it has already been announced, the right holders exercised 59,769,370 rights at an exercise price of

Taking into account the excellent course of the Group’s profits in 2007 as well as the good prospects for the future, the Board of Directors of A.L Prochoice Group Public Ltd decided to pay an interim dividend of EUR1.3 (CYP0.0076) from the profits of 2006 and 2007. The cum-dividend date will be Monday, January 21,

Cyprus’s Central Bank (CBC) surprised markets by reducing its key refinancing rate by 50 basis points to match the ECB’s 4.0 percent level, just ten days before the island enters the euro zone.Speaking after an unscheduled meeting of the Monetary Policy Committee (MPC), Central Bank Governor Athanasios Orphanides said the Lombard rate and overnight deposit

Marfin Investment Group (MIG) announces that following discussions between its Management and representatives of OTE, it was agreed that in the interests of OTE, its shareholders and personnel the Extraordinary Shareholders Meeting requested by MIG should not take place. The Vice Chairman of the Board of Directors of MIG stated that it was mutually agreed