The outgoing Governor of the Cyprus Central Bank, Christodoulos Christodoulou called on all political parties, the government and social groups for spending restraint ahead of next year’s presidential elections, stating firmly and resolutely that euro accession needs constant vigilance to limiting expenditure and making sure that the recent improvement in economic criteria remain sustainable. Speaking
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Moody’s Investors Service revised higher the rating results for banks in Cyprus as part of the application of its refined joint default analysis (JDA) and updated bank financial strength rating (BFSR) methodologies. For Bank of Cyprus, the BFSR has been changed to C- from D+. For Marfin Popular Bank, the BFSR has been changed to
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Former Agriculture Minister and deputy leader of the United Democrats, Costas Themistocleous, declared his candidacy for the next presidential election in February 2008. Themistocleous, whose small party failed to get into parliament in May 2006 and has been attacked by the ruling coalition, said that “we have to bring the Cyprus problem back on track
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Lycos Europe N.V., one of Europe‘s leading internet portals and online advertisers, today announced its results for the first quarter. It reported a net profit of EUR 7.6 million in the first three months 2007 and by this outperformed last year’s figure by 475% (EUR (2.0) million in first three months 2006). The main driver
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Panda Software has launched a new Vista-compatible version of Panda Antivirus+Firewall 2007. This version includes a new system for blocking malicious URLs and a specially-designed tool for stopping malware that uses rootkit techniques to hide. Panda Antivirus+Firewall 2007 customers can download the new version for free from http://www.pandasoftware.com/products/Antivirusfirewall2007 . Windows Vista compatibility is one of
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Motorola, Inc. and Terayon Communication Systems, Inc. announced that the two companies have signed a definitive merger agreement, under which Motorola will acquire all of the outstanding shares of Terayon’s common stock for $1.80 per share in cash. The transaction will have a total equity value of $140 mln on a fully-diluted basis. Terayon is
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What is important for Cyprus is Turkey’s policy and the need to change this policy so that efforts for a functional and viable solution to the Cyprus problem will speed up, said here Tuesday Government Spokesman Christodoulos Pashiardis. Commenting on the announcement that Turkey’s ruling AK Party picked Foreign Minister Abdullah Gul as its presidential
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Cyprus’ new Ambassador to Switzerland Athena Mavronicolas has briefed the President of the Swiss Confederation Micheline Calmy Rey about the current situation in Cyprus. She also discussed bilateral relations with the Swiss President, an official press release, issued here today, said. The discussions took place during a ceremony for the presentation of the credentials of
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Around 30,000 people have signed the Famagusta Municipality’s petition under the slogan “Let’s give voice to our cityâ€, which began April 14 and ended yesterday. The campaign’s aim was to collect signatures by Famagusta refugees demanding that they be allowed to return to the fenced off town, which is occupied by Turkish troops since 1974.Speaking
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Government Spokesman Christodoulos Pashiardis said that Germany has confirmed to Cyprus that the criteria for accession to the Eurozone are economic.Pashiardis said that “there was a relevant statement by the German Ambassador in Nicosia who categorically assured that the criteria which will be valid for Cyprus’ accession to the Eurozone are solely economic, just as
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