Cyprus’ four petroleum products trading companies were accused of price fixing by the Competition Commission on information collected by the Commission regarding its ex-officio investigation. The CPC concluded that the petroleum product trading companies, prima facie, seemed to: have adopted a common policy for the setting of retail prices, and have agreed with filling station

Hellenic Bank is seeking shareholder approval at the forthcoming EGM to be held on 30 May 2007 authorising the Bank’s Board to issue up to 20 mln ordinary shares for the next 12 months with a maximum discount of 10% on the market value of the shares. In another development, the Company will issue up

Exports and imports revised down First revisions to the national accounts of Cyprus have brought down figures for exports and imports of goods and services while maintaining the overall GDP growth rate at 3.8% in 2006, after 3.9% in 2005. National accounts of a country give the full breakdown of gross domestic product (GDP) and

The Board of Directors of Hellenic Bank Pcl decided to submit a public offer bid seeking 50% plus one share of Athena Cyprus Investments Pcl (ATH) in an all-cash bid. The cash consideration will be based at a 10% discount to the Net Asset Value of Athena that will be declared on March 31, 2007

Further to the Company’s announcement dated 5/3/2007, A. Tsokkos Hotels wish to inform the investing public that the agreement for the acquisition of Diomedes Hotels Ltd has been finalized on 26/3/2007. Diomedes Hotels Ltd holds 50% of the share capital of the owner companies of the four-star Iliada Beach Hotel, three-star Antigoni Hotel and Flora

At the meeting held on March 26, 2007, the Board of Directors of Hellenic Bank Public Company Ltd decided to propose to the Extraordinary General Meeting to take place on May 30, 2007, a special resolution, which will authorize the Board of Directors to issue up to 20 million new shares of Hellenic Bank for

Emporiki Bank SA of Greece has lifted its stake in Emporiki Bank (Cyprus) to 91.18% through the purchase of 1.698.300 shares representing 9.99% of the Bank’s capital in Cyprus from Quantum Financial Ltd. (formerly Glory Financial Services Ltd.) Emporiki now controls 15.501.000 shares of Emporiki Bank Cyprus. No financial details were given.

Cyprus risks seeing its airports at Larnaca and Paphos becoming 100% more expensive than other Mediterranean leisure-based airports if the price increases planned by Hermes Airports go through, according to the International Air Carrier Association (IACA).  “Cyprus is in danger of pricing itself out of the market and inflicting long-term damage to the country’s tourism

Secure Computing Corporation, an international provider of enterprise gateway security, will be launching a seminar road show to promote enhanced security solutions among IT professionals and IT security decision makers from April 1-8 in Riyadh, Kuwait, Qatar, Dubai and Cairo.  The move comes as malicious activity in the form of spam, worms, botnets and phishers

Ericsson and Cellular One from Dobson Cellular Systems, the largest independent provider of wireless services to rural America, announced an agreement for hosted prepaid wireless service. Ericsson will host a full range of new features and flexible rate plans for prepaid subscribers of Cellular One from Dobson Cellular Systems operating 70 wireless markets in 17