The FTSE/CySE 20 Advisory committee decided at a meeting held on May 4 to allow the titles of Pandora Investments Public Ltd and KEO Public Company Ltd into the index, while Vision International People Group Public Ltd and Alkis H. Hadjikyriakos (Frou-Frou Biscuits) Public Ltd. are to exit the index, effective June 1, 2006 and
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CLR Securities & Financial Services surged past rivals to first position among CSE member firms in April with a 21.08% share, helping lift its overall ranking to also first place during the first four months of the year with a 16.09% share. CISCO, the investment banking arm of Bank of Cyprus was in second position
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The Bank of Cyprus is to be the largest constituent company of the FTSE/ATHEX Mid 40 index as from 1 June 2006. Based on yesterday’s closing prices of the shares traded on the Athens Exchange, the Bank of Cyprus is expected to have a weight in the FTSE/ATHEX Mid 40 index of around 24%. At
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…Laiki and BOC lead the index higher Volume on the CSE surged to CYP 9.7 mln on Thursday in one of the most active days witnessed on the CSE, as Banking shares powered ahead to new record highs. Laiki Bank was the top active on CYP 3.45 mln volume, ending at a fresh record of
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Deutsche Bank has upped its price target on Bank of Cyprus shares from CYP 4.31 to CYP 5.40 or EUR 9.5 per share on the basis of its forecast that first quarter earnings due on May 11 will jump to CYP 29 mln. DB sees BOC lifting income by 19%, interest income up 21% and
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Politics may affect the case A Nicosia court has granted an interim order requested by a Cyprus based company against Turkish telecom giant Telsim Mobil demanding full payment on over USD 738 mln in bearer promissory notes that were issued by Telsim in 2003. The law firm of Michael Michaelides, representing the interests of Rosamara
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Is Varosha lost forever? A handful of Greek Cypriot refugees, thought to be from Varosha, are preparing to accept compensation payments from the Turkish Cypriot compensation commission set up in the north rather than wait for restitution of their property, according to Financial Mirror sources, with potentially wideranging implications for any future settlement on the
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No money to pay potentially huge claims The government’s decision decades ago to treat Turkish Cypriot properties in the government-controlled areas as effectively having zero value could come back to haunt it in the coming years if it finds itself liable for both decades of loss of use and compensation at today’s market value, the
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Former Foreign Minister and MEP for DISY and the European Popular Party, Ioannis Kasoulides, has issued a statement in reply to a recent Forbes article Fantasy Island (04.04.2006). Kasoulides underlines that, while Cyprus does face problems with illegal trade, its problems in the non-occupied areas are of the nature and extend that is found in
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Average home price at CYP 85,896 In March 2006, the selling price of residential property in Cyprus recorded a marginal increase of 0.4% from February 2006 according to the latest results from the BuySell Home Price Index. The Index reached 110.25 in March, bringing the average home price to CYP 85,896. The BuySell Home Price
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