Arrivals of tourists dropped by 21.9% year on year in March, partly owing to the timing of Western Easter (March 27, 2005, April 16, 2006), although the steepness of the decline suggests that it cannot all be blamed on religious feasts. The biggest drop among the main markets was recorded among arrivals from Germany (down
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The Republic of Cyprus government has indicated its support for the opening of a new crossing at Kato Pyrgos close to the north-western coast of Cyprus, insisting that it has always supported this crossing. Remarks by the government spokesman George Lillikas came after Greek Cypriot and Turkish Cypriot inhabitants living either side of the divide
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The CSE Council announced that it has accepted the listing of 9,103 ordinary shares of the Hellenic Bank Public Company Ltd., which have resulted from the exercise of American Type warrants of 2003/2007 as of April 18, 2006. The above shares will be incorporated in the already listed share capital of the Company, which will
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The Cyprus Stock Exchange announced that Options Cassoulides Public Co. Ltd. (OPT) will replace Lanitis Bros Public Co. (LB) in the CSE/FTSE 20 index effect April 19, 2006 following a decision made by the FTSE/CySE 20 Advisory Committee. The decision was made following the suspension of trading in the titles of LB, after it was
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Demetra Investment Public Co. (DEM) has seen its share price surge more than 45% during the first four months of the year, very close to the 50% plus rally for the CSE GENX. Trading at around 32.5 cent per share, Demetra’s stock is still trailing its Net Asset Value (NAV), with the discount at around
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The first stage of approval for the establishment of a banking subsidiary in Russia by the Bank of Cyprus Public Company Ltd has been successfully completed. The first stage of approval was provided by the Central Bank of the Russian Federation and is subject to the final approval of both the Central Bank of the
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US Ambassador to Cyprus Ronald Schlicher has called for “political engagement” by parties involved in teh Cyprus problem as soon as possible, adding that every day that goes by is wasted. Speaking after a meeting in Nicosia with opposition Democratic Rally (DISY) President Nicos Anastasiades, Schlicher said “It`s my very strong sense that everybody on
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Minister of Finance Michael Sarris is planning more reform to the pensions and social security systems in order to preserve the pension system beyond 2025, according to an interview with Reuters’ Michele Kambas. Sarris told Reuters that the social security system is viable until 2025 if no reforms are implemented but after that “a rapid
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…Greek banks seen as takeover targets The multinational giant UBS has placed the shares of Bank of Cyprus Group Public Co. Ltd. (CSE:BOC, ASE:KYPR) among its top 10 investment picks for the second quarter of 2006 based on BOC’s asset growth and asset quality leverage prospects. “We are overweight banks in Japan, Europe and emerging
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