Outgoing Central Bank of Cyprus Governor Christodoulos Christodoulou called on Marfin Popular Bank and Bank of Cyprus to tone down the tone of their recent tit-for-tat statements regarding the possibility of a cooperation, adding that the final decision is up to shareholders of both banks to decide. Christodoulou said it was not up to him,

Cyprus MEP Ioannis Kasoulides (Democratic Rally, European Popular Party) hailed the package of measures for the maritime sector that was approved by the plenary session of the European Parliament on Wednesday. “On behalf of the EPP I would like to congratulate Mr Sterckx for his report and express our full support,” Kasoulides told the EP

The dollar and the yen likely will remain weak in the near term, but expect the dollar to strengthen somewhat (except against emerging Asia) as the U.S. economy regains momentum in the second half, according to the latest Citigroup Global Economic Outlook and Strategy. By contrast, robust euro-area exports to emerging markets and hints of

Total registrations of motor vehicles increased by 31.7% in the first quarter of 2007 to 16,325, compared with 12,395 vehicles in the same period of 2006. The boom has come as a result of wide-ranging cuts on all car duties implemented in late 2006. The government’s cut in excise duties was prompted by the need

The first three months may have been a big disappointment for the tourism sector but the retail sector seems to be unaffected. According to the latest figures from the Statistical Service, retail trade turnover rose by 3.7% in volume terms and 6.5% in value terms in January compared with the corresponding period of 2006. And

Investment companies’ shares at EUR 255 mln discount   Elma Holdings (ELMA) has become the best performing investment holding company in the first quarter of 2007, racking up a spectacular 68% return on its net asset value (NAV), but its stock price on the CSE continues to trade at a wide discount to NAV, similar

Louis Vuitton, the world’s leading luxury goods manufacturer and retail, has opened its first store in Cyprus in the heart of the busy Stassikratous Street in Nicosia. Here for the opening ceremony were Patrick-Louis Vuitton, the descendant of the company’s founder and Louis Vuitton Europe President Jean-Marc Gallot. The store, the group’s 372nd in the

Written by M. Mark Walker, CFA Summarized by Brian A. Maris, CFA Edited by Constantinos Papanastasiou, CFA President, CFA Society of Cyprus   The author classifies corporate takeovers according to the strategic objective motivating the takeover and estimates the relationship between corporate strategy and the change in acquiring-firm shareholder wealth. The results indicate a negative

Motorola, Inc., through its strategic venture capital arm Motorola Ventures, announced that it has made an equity investment in Vocera Communications, developers of a system that allows mobile workers to communicate business-critical information over a facility’s wireless network through a hands-free, wearable badge. “Leading hospitals have recognized improved workflow efficiency and patient care with the