Blog - Page 4781

Jobless rate seen at 3.7%

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The unemployment rate for 2006 is seen at 3.7% from 3.8% in 2005 according to Ministry of Finance forecasts as a result of the higher growth rate of the economy. The Ministry of Finance notes that the jobless rate in Cyprus has been on the rise during the last five years (2001-05), but says that

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JP Morgan ups BOC target

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JP Morgan has upped its price target on the shares of Bank of Cyprus Pcl (BOC) from CYP 5.30 to CYP 5.90 or EUR 10.3 maintaining its overweight recommendation, but the higher target is still lower than the CYP 7.50 price target set by UBS on the BOC shares. JP Morgan analysts also increased their

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Marfin buys 6.8 mln Laiki shares

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Marfin Financial Group announced that it purchased another 6.8 mln shares of Laiki Bank (CPB) at an average price of CYP 2.73 on August 18, 2006, lifting its stake in the bank to 11.91% from 10.1% previously. As stated by MFG Vice-Chairman Andreas Vgenopoulos, the Group will eventually increase its stake in Laiki to 20%

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Cyprus to host sport management congress

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Cyprus will play host to the 14th European Association for Sport Management (EASM) Congress, to be held in Nicosia between 6-9 September 2006. The Congress, co-organised by the Cyprus Sport Organisation and Intercollege, will attract researchers, scientists and practitioners from Europe and around the world. Participants will share knowledge, experiences and expertise in the area

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Cyprus President to attend ASEM 6 Summit

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Cyprus President Tassos Papadopoulos will be in Finland, current EU president, in early September to attend the ASEM 6 Summit (Asia-Europe Meeting), to be held in Helsinki September 10-11. The Summit will bring together the leaders of 38 Asian and European countries and the European Commission and will address topical international issues such as support

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M&A deals surge to CYP 382 mln

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A massive increase in interest from foreign companies, mostly Greek, to snap up undervalued Cyprus assets has led to a major boost in Mergers & Acquisitions (M&A) so far this year, with the total value of the deals seen at CYP 382 mln according to Financial Mirror records. By far the single largest inward injection

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Cyprus still waiting for Tsolakis report

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Families of the 121 people who perished in an air crash near Athens last year will have to wait beyond the accident’s anniversary to hear the report of the investigators and the reason why their relatives died. Akrivos Tsolakis, the chief investigator of the Greek air accidents commission, is now expected to publish his conclusions

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