Piraeus Bank has purchased the branch network of Arab Bank in Cyprus at a total cost of EUR 15 mln. The transaction, expected to be completed in early 2008 involves the 4 branches and main headquarters building with a 4600 sq. metre capacity maintained by Arab Bank in Cyprus. Arab Bank employs 105 staff in
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The Committee on Missing Persons in Cyprus (CMP) has announced the launch of its website (www.cmp-cyprus.org). A press release issued by the Committee said the purpose of this website is to facilitate access to information concerning the CMP and its Project on the Exhumation, Identification and Return of Remains of Missing Persons in Cyprus. “It
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Cyprus’ legal system needs to be urgently revised to cope with the growing number of cases brought before the Courts, the President of the Supreme Court Christos Artemides has said.In an interview with CNA, he also said a group comprising three Supreme Court judges and one Senior District Court Judge has prepared a series of
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Russian Foreign Minister Sergei Lavrov said his country will propose to the UN Security Council to pay special attention to the initiative by President of the Republic Tassos Papadopoulos to promote implementation of a UN-brokered agreement in July last year, aiming to help resume negotiations towards a political settlement. He also expressed the hope that
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Nokia Siemens Networks has won a contract with Conad of Italy to manage its system and provide hosting services as the supermarket chain enters the mobile virtual network operator market at the beginning of 2008. The contract will see Nokia Siemens Networks supply Conad with convergent charging solutions and hosting services from one of its
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EuroNews has won the European Union’s call for tenders to extend its offering to include in Arabic. This new addition will be the eighth language version broadcast by EuroNews which already broadcasts in seven languages simultaneously (English, French, German, Italian, Portuguese, Russian, and Spanish). Arabic will become EuroNews’ eighth fully-fledged language, and the service will
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Ericsson has signed turnkey contracts as the total solution provider and prime integrator of Metropolitan Area Networks (MAN) to support the launch of seven digital cities across Greece. Under the agreements Ericsson will supply and install fiber optic telecommunications networks in the municipalities of Agrinio, Chania, Ermoupolis, Ierapetra, Iraklio, Kozani and Rethymno. The networks will
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The Monetary Policy Committee (MPC) of the Central Bank of Cyprus (CBC) decided to leave unchanged the minimum bid rate on the main refinancing operations, the interest rate on the marginal lending facility and the interest rate on the overnight deposit facility remain unchanged at 4,50%, 5,00% and 3,00%, respectively. The MPC noted that recent
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The food, wine and hospitality industry of Cyprus is no longer a baby. It has matured into a lusty adult, having to face the intensive competition from the industries of other countries. Today it is ready for proper and objective assessment, criticism even, which many people in this country now welcome and accept. Now, mature
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Capital Intelligence (CI), the international rating agency, today announced that it has raised the long-term foreign currency rating of the Republic of Poland to ‘A-’ from ‘BBB+’ and affirmed its short-term foreign currency rating of ‘A2’. The outlook on the ratings is stable. The upgrade reflects improved economic fundamentals and good prospects for more durable
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