The Limassol cooperative movement celebrated the 65th anniversary of the town’s cooperative retail company, ESEL-SPOLP, and paid homage to the surviving founders at an event held at the Pattichion municipal theatre. After the screening of a short film that documented the history of the cooperative movement, Kyriakos Nicolaides, the General Manager of the enterprise took
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The University of Buckingham celebrated the return of its School of Law to the top 20 ranking in the UK national league tables. As Britain’s only independent and smallest mainstream university offering the pioneering two-year law degree, it has, for 15 years, been trying to fit within the framework of the league tables of excellence,
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Two central bankers, European Central Bank vice president Loucas Papademos and Cyprus Central Bank Governor Athanassios Orphanides, have rightly rung the warning bells saying that urgent measures need to be taken to maintain a healthy economy. Papademos has warned that unless the automatic wage indexation system (COLA) is abolished, we will be paying out of
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Compton House Investments, operator of eight Early Learning Centre franchise stores in Cyprus and Greece has sold the Athens operations for EUR 6 mln to I. Kloukinas – I. Lappas, the Greek operator of the Mothercare stores, after the latter also secured ELC franchise rights for the Balkans. Compton operates a flagship store in Makedontissa,
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Aspis SA and Commercial Value SA of Greece have regained majority control of Universal Bank, bringing to an end one of the longest takeover sagas ever played in the corporate history of Cyprus. The German-owned shipping company, Schoeller, agreed to sell its 25.5% stake in Universal Bank to Aspis SA and Commercial Value SA at
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Cyprus Foreign Minister Erato Kozakou Marcoullis has said that she gave instructions to Cyprus’ Ambassador in Damascus to raise before the Syrian authorities the issue of the transfer of illegal immigrants from Latakia to the Turkish occupied town of Famagusta, on a ship conducting illegal routes between Syria and Cyprus’ occupied areas.Marcoullis said it was
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The EU Veterinary Committee is expected to lift on Monday the prohibition of pork meat exports from Cyprus and of the consumption of meat from the three kilometer protection zone and the 10 kilometre surveillance zone around the infected holding where food and mouth disease (FMD) was detected.Cyprus Agriculture, Natural Resources and Environment Minister Photis
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Cyprus is very well prepared for its accession to the eurozone, on January 1st, 2008, European Central Bank vice President Lucas Papademos said. Addressing an audience at the Central Bank of Cyprus, Papademos said Cyprus has made remarkable progress in improving the living standards of its people, thanks to an extended period of stability-oriented macroeconomic
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Cyprus’ leading bakery chain, A. Zorbas & Sons (ZRP) recorded a decline in first nine month results because of increased costs related to its new production unit, higher labour costs as well as higher raw material and energy costs. Net profit declined 22.9% YoY to EUR 2.33 mln compared to EUR 2.93 mln profits a
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HSBC has initiated coverage on Bank of Cyprus Pcl (BOC) with an overweight rating and a target price of EUR15/share, implying a potential total return of 33% compared to current levels of EUR 11.50 per share. Bank of Cyprus is the key beneficiary of the ongoing restructuring of the Cypriot banking market, while at the
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