The European Commission has tabled a first set of pure reduction proposals to cut unnecessary administrative burdens for companies, primarily Small and Medium Sized Enterprises (SME’s), without changing the level of protection. The three proposals, aimed at transport companies, small bakers, butchers and grocery shops and the merger or division of enterprises are part of
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Citigroup has maintained its EUR 15.50 per share price target on Bank of Cyprus shares following the 8.07% transfer of Piraeus stake in BOCY to Marfin at EUR 11.24 per share in a deal valued at EUR 505 mln. Previously, Alpha Finance has raised its share target price for Bank of Cyprus (BOCY) from EUR
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Cypriot President Tassos Papadopoulos said on Thursday that the government is continuing efforts to cooperate with Turkey regarding the fate of Christakis Georgiou, who was five years old when he disappeared during the 1974 Turkish invasion of the island.The government, he pointed out, is also concerned about establishing the fate of all other missing persons.Speaking
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Cypriot President Tassos Papadopoulos will be departing on March 12 for Bucharest for an official visit.During his stay in Bucharest, President Papadopoulos will be meeting with Romanian President Traian Basescu and Prime Minister Calin Tariceanu. According to an official press release, the visit will be taking place at a special moment for Romania, which joined
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President Tassos Papadopoulos said on Thursday that if the House of Representatives did not vote in favour of joining the Eurozone, then ”we simply will not proceed with the accession.”Speaking at Larnaca Airport before departing for Brussels to participate in the European Council, President Papadopoulos pointed out that ”the EU determines the dates for the
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Lisbon Strategy for growth and jobs and the EU energy policy and climate protection will be the focus of the Spring European Council convening here Thursday and Friday.Cyprus will be represented at the Council by President Tassos Papadopoulos.The Heads of State and Government are expected to agree on a European energy policy action plan and
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Equal opportunities and equal access to resources for both men and women is key to sustainable development. With the European Strategy to promote gender equality in development cooperation adopted today, the Commission translates into practice the EU commitment to put gender equality at the heart of its development policyThe strategy suggests concrete actions in five
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The euro fell against the dollar on Thursday after European Central Bank President Jean-Claude Trichet said interest rates in the region were moderate and monetary policy was on the “accommodative side.” The fact that he did not mention the V word (vigilance) disappointed the market, forcing the euro lower. The euro fell to a session
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The Economist Intelligence Unit (EIU) maintained its Cyprus GDP growth forecast at 3.6% and 3.8% for 2007 and 2008 respectively. The EIU says that with slowing demand in both the Euro area and the UK in 2007-08, tourism is likely to recover only slowly, and real GDP growth in Cyprus will continue to be driven
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Marfin Popular Bank CEO Andreas Vgenopoulos insists that MPB does not intend to submit a public offer to the shareholders of Bank of Cyprus and will stop the initiatives for a consolidation in the banking sector for the period of one year.Speaking at a teleconference with analysts, Vgenopoulos said the acquisition of the 8.07% stake
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