Citigroup has commenced coverage of Hellenic Bank Pcl (HB) with a price target of EUR 7 per share with a buy/medium risk 1M rating. According to Citigroup estimates, Hellenic Bank is on track to register 46% YoY growth in EPS in 2007 and a further increase of 22% in the years 2008-2009. Citigroup sees the
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A US Congressman has called for progress on a UN-brokered agreement, between the Greek Cypriot and the Turkish Cypriot sides, with a view to make headway towards substantive negotiations for a political settlement. Democrat Robert Wexler, from Florida, has also pointed out in a letter to the US Secretary of State that ending the division
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Cyprus donated $20,000 to Lebanon to promote the implementation of the UN Security Council 1701 resolution for the establishment of the sovereignty, independence and territorial integrity of the neighbouring country.A cheque for this amount was handed over during a special ceremony here by Foreign Ministry Permanent Secretary Alexandros Zenon to the Ambassador of Lebanon to
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Eurobarometer survey shows trust in EU steady at 61% Â The two main problems worrying Cypriotcitizens remain crime (51%, up by 9% from the autumn of 2006) and inflation (28%, down by 11% from the autumn of 2006) according to the sixth survey of the Eurobarometer series conducted in Cyprus after its accession to the
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…Vassiliko needs to “sacrifice†cement import and concrete production  The Commission for Protection of Competition (CPC) has asked for additional guarantees and commitments from Vassiliko Cement and Cyprus Cement officials before deciding on whether or not to approve or reject the application to merge their operations. After a marathon meeting that ended late Tuesday,
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Bank of Cyprus Group Pcl (BOC) is seen reporting a 49% increase in first half profits for the period ending June 30, 2007 giving rise to expectations that it will easily beat and surpass Management’s previous profit estimate for the whole of 2007. The Mangament team headed by Bank of Cyprus CEO Andreas Eliades and
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Capital Intelligence, the international credit ratings agency, affirmed Monday the foreign currency long-term and financial strength ratings for Bahrain-based TAIB Bank (BSC) at BBB-. The foreign currency short-term rating is also maintained at A3. The bank’s foreign currency ratings carry a ‘positive’ outlook in view of the imminent change in ownership, the Cyprus-based rating agency
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Emap plc, the B2B and consumer media group, announced a joint venture agreement with Channel 4 which aims to create the UK‘s number one music TV provider. Under the terms of the agreement, Emap has agreed to sell 50% of Box Television Limited, which owns Emap’s music TV business, to Channel 4, for a cash
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A small group of members from Lobby for Cyprus successfully put an end to a property exhibition organised by UK-based Sea Terra at the Hilton hotel in Cobham, Surrey, as it would have promoted the illegal sale of stolen property in occupied northern Cyprus. Although Sea Terra is registered in Wiltshire and has offices in
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The absence or near absence of financial maintenance covenants in a bank loan agreement will probably affect ultimate recovery values should the loan default, but not to the same degree as other factors, such as the amount of debt that ranks junior to the loan, or the security on the loan, Moody’s Investors Service said
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