Cyprus Finance Minister Michalis Sarris is due to sign the changeover in the share ownership of the state-owned Cyprus Development Bank at a special ceremony Thursday at 13.00 at the Finance Ministry. Sarris will sign the agreement on behalf of the government, while representatives of the European Investment Bank holding 11.99% of the CDB stake

European Union specialist on animal disease Alberto Ladomada said on Wednesday that all data collected so far indicates that foot and mouth disease (FMD) virus type O is present in Cyprus, noting that available data does not indicate a major spread of the disease. Ladomada was speaking after a meeting at the Veterinary Services offices

The government agreed to sell its controlling stake in the Cyprus Development Bank to a private investment group made up of high net worth Cypriots mostly based overseas for EUR 75 mln or CYP 43.8 mln, of which 88.01% will go to the state and the remaining 11.99% to the European Investment Bank. The Emerging

The Monetary Policy Committee will hold its regular meeting at the premises of the Central Bank of Cyprus at 8.45 a.m. on Monday, 12 November 2007. This will be followed at 11.00 a.m. by the meeting of the Central Bank’s Board of Directors. Both meetings will be chaired by the Governor of the Central Bank

Logicom Public Co. Ltd, announced that it has signed an agreement with the Cyprus Ministry of Education and Culture for the supply and installation within the period of 6 months and the maintenance for the period of 3 years of 10,826 computers and equipment against the sum of $9,742,603.54.

Reports are emerging that Naspers, the South Africa based mother company of NedMed NV, which has a significant stake in Multichoice has decided to sell its stake which affects a total of 350.000 subscribers, of whom 340.000 are thought to be in Greece and 10.000 in Cyprus through the NOVA platforms. NedMed is probably afraid

Bank of Cyprus reported sharply higher 9M profits of EUR 370 mln, recording a spectacular 66% YoY increase, which was above expectations for EUR 360 mln made by analysts, while Management lifted its full year forecast to EUR 486 mln from EUR 415 mln made earlier in the year. BOC CEO Andreas Eliades said the

A year after The Yachts of Seabourn announced that it would build two new, ultra luxury ships, advance booking activity for the first, Seabourn Odyssey, has led to the line’s decision to exercise the option for another. The third sister ship will be built by T. Mariotti S.p.A. of Genoa, Italy for delivery in summer,