Intership Navigation sold its entire 9.6% it held in the share capital of Universal Bank Pcl (USB) at EUR 5.00 per share in cash in a deal valued at EUR 7.25 mln, which further cements the position of Aspis Group in Cyprus’ fourth listed bank. Former Communications Minister and former CSE Chairman Pavlos Savvides, who
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— Majority stake in Minoan, Hellenic Seaways – f aces new revolt by Grimaldi  Sea Star Capital (SEAS), the CSE listed group controlled by Greek shipping tycoon Ioannis Vardinoyannis has taken a 26.71% controlling stake in Minoan Lines and a 34.70% stake in Hellenic Seaways for a total deal value of EUR 249.6 mln,
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Oracle Hellas announced that Vassilis Demopoulos has been promoted to Vice President responsible for the Greek cluster that includes Greece, Cyprus, Malta, Albania, Kosovo and FYROM.  “Our excellent performance in the past three years, combined with our comprehensive portfolio of business software, have put us in the lead in the market which we aim to
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The Permanent Representatives of the 27 EU member states didn’t succeed last week in reaching an agreement on the draft conclusion adoption by the conference of their Ministries of Foreign Affairs on Monday. The French request to establish a “Council of Wise Men†was accepted by the 27 representatives, under the guise of a ‘Reflection
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The Open University held a lecture in London where Prof. Joseph Joseph explored the legal and political aspects of “The British Bases and the Marine Natural Resources (Oil and Natural Gas)â€. Joseph, who is a professor of international and European studies at the University of Cyprus, triggered a long debate among the 70 attendants that
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The European Commission is offering 145 one-year scholarships for Turkish Cypriots for the academic year 2008/09. Recipients will receive a grant of EUR15.000 to cover their living expenses as well as up to EUR2.000 towards tuition fees. Scholarships will be available both for undergraduate and for postgraduate studies (e.g. Masters, PhD studies). Studying at any
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The Cyprus Government submitted the Stability Programme 2008-2011 (SP) to the European Commission (EC). According to the SP, the Government’s macroeconomic policy aims to continue the successful implementation of the fiscal policies and reforms with the primary target to strengthen the implementation of the Lisbon strategy. The Governments fiscal policy targets include: the introduction of
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The Norges Bank decided to raise the official interest rate by 25bps to 5.25% at Wednesday’s monetary policy meeting. The move was in line with the indications from the October Monetary Policy Report, according to a report by Citigroup Research. In the accompanying statement, the Norges Bank justified the rate hike by referring to strong
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Cypriot painter Andreas Charalambous has been declared an honorary member of the Russian Academy of Arts. A press release, issued today by Cyprus Union of Journalists, said the official ceremony to declare Charalambous honorary member of the Academy took place on November 27, 2007, in Moscow. Speaking during the ceremony, Vice President of the Academy
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Overall, 2007 has been a good year for commodities. However, base metals have performed weakly, with lead virtually the lone star performer. For 2008, Andreas Hoefert Analyst, UBS Financial Services expects base metal prices to consolidate further. However, Hoefert remains optimistic at least for copper and aluminum, which he thinks could outperform the metal complex.
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