Bank of Cyprus shares rallied sharply higher on Tuesday in Greece to a fresh record close of EUR 7.40 or CYP 4.26 on heavy buying interest by foreign funds, which lifted total volume on the shares to 1.9 mln for a value of EUR 13.9 mln or CYP 8 mln. The 2.5% surge far outstripped

The Board of Directors of Atlantic, Telia Aqua Marine and Kronos have approved the level of dividend to be proposed at their respective Annual General Meetings. Atlantic Insurance (ATL) approved the final 2005 results, recording a net profit of CYP 1.68 mln for an EPS 4.3 cent compared to the preliminary results of CYP 1.72

Leda Investment (LEDA) announced that the public offer submitted by the Greek national K. Velanis to acquire a minimum 50% plus one share of the Company’s issued share capital at a cash consideration of 7.5 cent per share was successful as 59.9 % of the Company’s shareholders accepted the Public Offer. K. Velanis will accept

The Central Banks of Cyprus and Armenia signed here Thursday a memorandum of understanding on April 13 during the visit to Cyprus of the governor of the Central Bank of Armenia, Tigran Sargsyan. The “Memorandum of Understanding” will promote exchange of information between the two supervisory authorities in order to help the supervision of cross-border

The Cyprus government will actively encourage Indian IT firms which want to invest in the Techbology Park that will be built in the Limassol region and some firms have already shown interest, according to the Commerce Minister George Lillikas speaking during the official visit to India last week. Noting that India is “a pioneer in

The New York crude oil price hit USD 70 per barrel on Monday for the first time August 31, just after hurricane Katrina ravaged the coast of America. The main cause of the rise was a combination of upstream and downstream supply fears. Rising tensions with Iran over its nuclear programme increased fears on the

Gross domestic product (GDP) in the eurozone grew in real terms by 0.3% compared with the previous quarter in the fourth quarter of 2005, while growth in the EU 25 rose 0.4%, according to estimates from Eurostat, the Statistical Office of the European Communities. This was slightly slower than in the third quarter of 2005,