Hellenic Bank Pcl (HB) shares raced to a new record high Tuesday closing at EUR 5.26 on the back of speculation that the bank has surpassed the minor shock from the credit crunch witnessed in international markets and following timely positioning, is in fact benefiting from the general rebound in capital markets overseas. At the
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“Ideal for merger, takeover in case of consolidation” Â Piraeus and Bank of Cyprus would be the most attractive takeover candidates in case of domestic consolidation in Greece, and based on their fundamentals and prospects they are the top picks of Deutsche Bank in Greece. Domestic consolidation has not been the main priority for Greek
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P&K Research, a member of the National Bank of Greece, initiated coverage on Marfin Popular Bank with an overweight bias and a price target of EUR 12.30 per share compared to EUR 9.66 prevailing prices. In a report entitled “Marfinology – An attractive growth story with risksâ€, P&K says that although MPB looks like an
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The Cypriot lemon and citrus exports to the UK worth an estimated GBP 50 mln a year, are under threat from a South African grower Citrogold who has announced the sale in February of the world’s first seedless lemon, according to the London Greek News. Eureka seedless lemons, which the grower claims are 100% seed-free,
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The Telekom Austria Group has agreed to acquire a 70% stake in Cypriot SB Telecom Limited held by Ead Samawi and his partners for a corresponding enterprise value of EUR 730 mln. SB Telecom is the sole owner of the Belarusian mobile operator MDC. The transaction values MDC at approximately 5.9x08E EBITDA. Furthermore Telekom Austria
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In the context of a soft landing and despite significant exposures in lending to construction and commercial real estate, Spanish banks rated by Moody’s are well positioned to withstand a slowdown, says Moody’s Investors Service in a new Special Comment. However, in the unlikely event of an abrupt correction of the real estate market, a
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The overall outlook for rated Turkish banks remains stable-to-positive as they benefit from favourable profitability and franchise development dynamics, Moody’s Investors Service said in its new Banking System Outlook for Turkey. At the same time, further upside on the ratings would be halted if risk appetite increases. Moody’s noted that the rapid business growth since
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The Christian-Democrat party in the Netherlands, the CDA (Christian Democrat Appel), has announced that Osman Elmaci has been turned down from taking a seat in the European Parliament due to his attitude toward and his remarks denying the Armenian Genocide. Elmaci, who had already been ousted from the last legislative elections for the same reasons,
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Nokia’s new partnerships with world-leading content brands brings a huge range of high-quality mobile videos into the hands of compatible Nokia Nseries device owners. The new partners are to join YouTube and Reuters in providing mobile video content for the Nokia Video Center that offers Nseries users a single place to discover and access the
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COMMENT: By Denis O’Hare  For the Cyprus property sector, the current worldwide ‘credit crunch’ in banking adds to other hazards that may affect its attractiveness as an investment destination.  — Credit Crunch Hits Cyprus Property  In May 2007, the local press reported that bank loans for building and construction were up 31%
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