The national consumer price inflation rate rose to 2.25% in January, compared with January 2005, after rising by 1.99% in December. Compared with the previous month, however, the CPI fell by 1.79%. The Statistical Service attributes the decline to falls in the prices of certain clothing, footwear, household furnishings and household utensils owing to the

The Central Bank of Cyprus announced that during the auction conducted on February 2, 2006 for the acceptance of deposits of 14-day duration, bids amounting to CYP 544.0 million were submitted, and an amount of CYP 300.0 mln was absorbed at a weighted average allotment rate of 2.37%. The minimum and maximum allotment rates were

Cyprus enjoyed its first increase in tourism revenue for many years in 2005, with revenue reaching CYP 1,005.7 mln, or just over CYP 1 bln, compared with CYP 982 mln in 2004, according to Statistical Service data. However, the increase on the year earlier was only a meagre 2.4%, compared with a 5.2% increase in

HSBC Holdings plc announced that it has reached agreement for the sale of its 21.16% shareholding in the Cyprus Popular Bank Public Company Limited, in a deal valued at CYP 110.24 mln in cash or CYP 1.70 per share, which is at a 23% discount compared to the CYP 2.20 price prevailing on the CSE.

The Lithuanian Bankas Snoras has expressed the interest to submit a counter bid seeking 52% to 55% of the share capital of the CSE listed Universal Bank Public Co. Ltd. at the price of 90 cent per share, which is at a significant premium compared to the offer made by a German shipping group. The

The Lanitis family, the second largest shareholder in the Laiki Bank Group with a 8.6% stake, has welcomed the participation of the Greek Marfin Financial Group in the share capital of Laiki but has also stressed that Marfin does not control the Bank. Marios Lanitis, representing the interests of the Lanitis family, told the Financial