Egypt and Lebanon have not reneged on the agreements they have signed with the Republic of Cyprus research and hydrocarbon exploitation in the sea area of Cyprus, Government Spokesman Christodoulos Pashiardes has assured. Invited to comment on Turkey’s stance and the statements made by Turkish politicians on the oil issue, Pashiardes said that “there is

Bank of Cyprus and Marfin Popular Bank shifted their takeover war to academic circles this week as the battle to swing public opinion on whether the deal is hostile or friendly took a new turn after MPB officially tabled its proposal at the CSE and BOC described the bid as “irregular” and “not to be

The European Commission is set to decide on whether to give its approval to a crucial CYP70 mln loan that Cyprus Airways (CAIR) is seeking from the Cyprus government. The decision is expected to be discussed on Wednesday, February 7, 2007, but there may be a delay considering that various directorates have not yet forwarded

Bank of Cyprus Pcl (BOCY) has clarified that the agreement for the sale of a 28% stake in Universal Life Insurance to Andreas Geroghiou and Photiades Group was signed on July 13, 2006 and since payment has been received and most regulatory permits secured, there is no issue of renegotiation of the said contract. BOCY

Consumer price inflation was steady in January, as prices rose year on year by 1.6%, the same rate as in December. However, prices fell compared with the previous month, by 1.8%. A price fall in January is usual owing to the January sales. The Statistical Service reported that there were decreases in the prices of

According to figures from the Statistical Service Cystat, industrial output prices stabilised in December, as the index reached 123.9 (base 2000=100), the same as the previous month. For the period January-December 2006, industrial output prices rose by 4.3% compared with the same period of 2005. Prices for export (5.0%) rose faster in this period than

The Central Bank of Cyprus announced the issue of two collector coins, in silver and cupronickel, both of a nominal value CYP1 and year of issue 2007, on the occasion of the 50th Anniversary of the signing of the Treaty of Rome, on 25/03/2007.The issue is within the framework of the decision of euro-area Member

Nokia and Italian operator, Wind Telecomunicazioni S.p.A., have signed a contract that will integrate a customized remote mobile email platform into the operator’s network and host the commercial service. The hosting model allows Wind to focus on marketing and developing its customer relationship while Nokia takes care of mobile email operations and service availability. The

Marfin Popular Bank announced that its majority shareholders, V. Thocharides (4.15% stake), the Lanitis family (4.01% stake) and Andreas Vgenopoulos – CEO (2.56% stake) have informed the Board of Directors of Piraeus Bank that they have rejected the takeover bid submitted by the latter seeking control of the Bank. The majority shareholders reached the decision

Motorola, Inc. has signed an agreement with Neotel, South Africa‘s second national operator, for radio frequency (RF) planning of its WiMAX and CDMA wireless networks in South Africa. Ajay Pandey, Managing Director of Neotel said, “Motorola is ideally placed to bring its vast global experience and competency to effectively support Neotel in achieving its ambitious