The Cyprus Tourism Organisation (CTO) is confident that the number of German tourists visiting Cyprus this year will increase, with confidence high after a German tour group confirmed they will divert at least 25,000 more tourists to the island. The German VDK, which specialises in trips to Turkey, is reported to have agreed to divert

To cut military service to 14 months Cyprus can hope for significant benefits in the form of additional economic growth and public revenues under the Democratic Rally (DISY) proposal for upgrading the National Guard and turning it in to a semi-professional army, according to research by the independent economic research company, S. Platis Economic Research.

Restructuring plan set for April approval Hellenic Bank is undergoing a major transformation with a shake-up of procedures and culture as its new CEO Makis Keravnos starts to put into place a detailed and comprehensive restructuring plan. “This may be the first time that Hellenic Bank is undergoing such a profound change at all levels

Mining hopeful Eastern Mediterranean Resources has raised GBP 1.4 million at 12.5p to fund its quest for copper, gold and other minerals in Cyprus, Georgia and Slovakia, according to a report in Growth Company Investor. Brokers Hichens Harrison and Lewis Charles handled the placing, which, says managing director Harry Anagnostaras-Adams, leaves the company with a

Egnatia Financial Services has lifted its price target on the shares of Laiki Bank to CYP 3.40 from the previous CYP 2.11 per share level following the release of the 2005 results. Based on the stocks’ latest price, this implies a 35% upside potential leading Egnatia to change its recommendation from Accumulate to Buy. Laiki