Foreign institutional investors were holding 16% of the share capital of Bank of Cyprus Group Public Co. Ltd. by the end of 2005 compared to just 3% end of 2004, said Yiannis Kypri, Group Chief General Manager. Speaking after the BOC announced its new financial targets, Kypri said Greek institutional investors on the other hand

Laiki, Marfin to boost complimentary services HSBC completed the transfer of its 21.16% stake held in the capital of Laiki Bank Group to the new buyers on February 6, sealing possibly the largest M&A deal of the year and at the same time clearing a major uncertainty over its future intentions. HSBC sold 9.98% of

Pilots resist pressure to call off strike Travel agents telling people to rebook with BA The fate of the 385 staff at Cyprus Airways who will be made redundant and the compensation packages to be paid depend on how soon the government can buy charter operator Eurocypria and inject some CYP 15 mln in much

Banks vie for a piece of their market share The Cooperative Credit Societies, also known by their Greek acronym SPE, are the target of an all-out attack by the island’s commercial banks, eager to grab a piece of their attractive market share in loans and deposits, which the major Coops are likely to resist and

The European Commission has kicked off a global internet blog aimed at increasing internet safety. The multilingual project is expected to involve participants from 33 countries, including Russia, New Zealand and Argentina. During the so-called “blogathon”, celebrities, internet users and organisations active in promoting internet safety will post their ideas and comments on the website

The US Deputy Assistant Secretary of State Matt Bryza was on Brussels on Monday to discuss Turkey’s obligation to extend the EU-Turkey customs union agreement to Cyprus as well as the stalled regulations on Turkish Cypriot trade and aid. Turkey is currently undergoing the screening process for accession talks. Last month Cyprus rejected Turkey’s offer