Lanitis Bros. Public Co. Ltd. reported a strong rebound in sales and profit for the first nine months of the year ending September, with profits helped in part by a successful cost containment effort. Total turnover was up 13% at CYP 45.64 mln, driven higher by exports to Europe as well as from the distribution

Alliance International Reinsurance Public Co. (ALL) reported sharply lower profit for the first nine months of 2005 due to the payment of back taxes, which the company said are non recurring. Gross reinsurance premiums written for the period 1 January to 30 September 2005 amounted to CYP 16.13 mln against CYP 14.54 mln for the

EDITORIAL Recently revised data from the Central Bank of Cyprus underline the fact that professional business services (and therefore a large proportion of our readers) are fast becoming the real backbone of the Cyprus economy. Although receipts from travel continue to outstrip those of business services, the gap is closing. Travel receipts (primarily from tourists)

A new study on how to raise the tourism potential of Nicosia to be published today has identified four key areas in which Nicosia can complement the tourism on offer for the rest of the island. The research, paid for by the Cyprus Tourism Organisation and carried out by PricewaterhouseCoopers, has been sponsored by a

But a new fuel tax could still wreck euro plans The government has revised down its forecast for the budget deficit in 2005, following better than expected results for the first nine months, showing a small budget surplus of CYP 19.5 mln (cash basis). However, now that the heat is off the budget, a new

Bidding for the “takeover of the year” award The announcement by SFS Group Public Co. that it intends to file a takeover bid to acquire a minimum 20% and up to 100% of the share capital of CyVenture Capital (EXE) got little attention in the market. The reason could be that the deal is more