Cyprus Monetary Policy Committee (MPC) decided unanimously to leave the official interest rates of the Central Bank unchanged. The official interest rates of the Central Bank of Cyprus, that is the minimum bid rate on the main refinancing operations, the interest rate on the marginal lending facility and the interest rate on the overnight deposit
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Cypriot President of the Republic Tassos Papadopoulos inaugurated Friday the European Union House in Nicosia, describing it as a place for acquaintance and familiarization of the European citizen of Cyprus with the Community institutions, the activities and the policies of the EU.The EU House in Nicosia will house the offices of the Commission and the
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More than a decade ago the two ports of Limassol and Larnaca were overflowing with containers stacked ten-high arriving from the Far East and ready to be transshipped to Europe or other parts of the world. Major shipping and container transport companies set up their base here to monitor operations, creating job opportunities for locals
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…due to the higher population shown in their 2006 census  By Nicos Vassiliou Economist / Consultant NV Consultants  The recently published results of the Population Census held by Turkish Cypriots on April 30, 2006, creates a set-back to the cause of bridging the economic gap as measured by the per capita GNP (Gross
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By Marinos G. Gialeli General Manager Hotel Employees Provident Fund  The Investment Strategy of Provident and Pensions Funds does not represent simple numbers in respect of the portfolio dispersion, but it constitutes a study to be carried out thoroughly by experts based on the fundamental data of members (age, salary, etc.) The Provident and
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The number of unemployed registered at the District Labour Offices in Cyprus on the last day of March 2007 fell by 1,830 to reach 12,986 persons, compared with 14,816 persons in February 2007. The decrease was mainly recorded in the sectors of hotels and restaurants, public administration and construction and is no doubt related to
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According to figures from the Statistical Service Cystat, the industrial output price index reached 124.1 (base 2000=100) in February, a rise of 1.0% on the previous month. For Manufacturing, the Index for February 2007 reached 125.1 units, recording an increase of 3.7% compared with February 2006. For the first two months of the year, the
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Cyprus has promised to issue multiple entry visas to Russian businessmen and tourists wishing to visit the island within 24 hours at most, with efforts underway to reduce the time to 6 hours of waiting, in an apparent effort to encourage Russians to reconsider shifting their business to Cyprus. Russian businessmen have recently shifted their
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The Cyprus Development Bank has launched an internal strategy review that takes into consideration the new economic environment, the impact of globalisation and the dynamic changes in the island’s banking sector. In this context, HSBC has been assigned to look at the strategic options, including partnerships, of the Cyprus Development Bank and advise accordingly. Â
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The Board of Directors of Alkis H. Hadjikyriakos (Frou-Frou Biscuits) Public Ltd  approved the final audited financial statements for the year ended 31/12/2006 and having set the date for the Annual General Meeting, which will take place on Thursday, June 7, 2007 at 6.00 pm at the Company’s office in Kokkinotrimithia, decided to propose to
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