Neapolis to inject millions into Paphos Plans by the Leptos Group to invest CYP 550 mln to develop 1,100 donums (decares) of land in the Paphos Yeroskipou area, similar to the successful business model adopted by Dubai, is meeting opposition from rival property developers and the Green Party, but should sail through once people realise
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The Chairman of the CSE, Akis Kleanthous confirmed today that the planned launch of the common trading platform with the ASE will be delayed from the initially announced launch date of April 3. “At best we shall be able to launch the common trading platform with Athens in 2 to 6 weeks from the day
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Fourth month of decline There seems to be no end in sight for the collapse in tourism arrivals that began in November, with the latest figures showing a drop of 8.9% year on year in the number of arrivals in February. Moreover, we don’t even have the excuse of a high baseline in the same
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The Cyprus government is discouraging Greek Cypriots from filing applications for property restitution direct to the European Court of Human Rights (ECHR), fearing that it may undermine its overall legal case in property cases against Turkey. Around 1,400 Greek Cypriots are affected by an ECHR test case, Arestis v. Turkey, in which the ECHR last
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Louis Public Company Ltd announced that the delivery of cruise ship Birka Princess, which has changed its name to Sea Diamond, has been completed on Friday, March 17, 2006. The new ship, which was acquired against the sum of $35 mln, was constructed in Finland in 1986 and has been fully refurbished against $26 mln
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Bank of Cyprus Group announced that Spyros Neophytou, who joined the Bank of Cyprus in the UK in 1972, is retiring as General Manager of the UK operations of the Group at the end of April 2006 and will be succeeded by his present deputy, Iacovos Koumi. Iacovos Koumi joined Bank of Cyprus UK in
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Egnatia Financial Services has lifted its price target on the share price of Hellenic Bank Group to CYP 1.27 per share and reinstated its buy recommendation, on the back of improving fundamentals. Hellenic Bank delivered a strong set of FY05 results with Net Profit reaching CYP 7.5 mln above its estimate of CYP 5.2 mln.
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Lillikas marks softening in tone The Cypriot government is putting the screw on Turkey over what was apparently agreed in Paris between President Tassos Papadopoulos and UN Secretary General Kofi Annan on February 28th. In a statment by both Annan and Papadopoulos, it was reported that there was agreement from Turkish Cypriots too to start
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None of the EUR 139 mln financial aid for Turkish Cypriots will be spent on Greek Cypriot land, the government spokesman George Lillikas has said. After a long delay and disagreements among EU members about whether the financial aid regulation for Turkish Cypriots should be tied to the regulation on trade which Greek Cypriots oppose,
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The euro continued its steady advance against the Cyprus pound, gaining to a new high of 0.5756 or 1.7373, but was well off its highs against a generally stronger dollar, which climbed after core US inflation numbers came in much higher than expected. A general slowdown in tourism receipts and a reduction in the pace
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