The European Commission and EU member states, will undertake a feasibility study in the second half of 2005 to determine the future role of Customs in the EU as both facilitator and regulator of trade. The decision was one of the outcomes of the 72nd Meeting of the Directors General of Customs of the EU

Athena Investments (ATH) reported a doubling of first quarter gains, on the back of a higher revaluation gains but also because the investment company locked in some of its gains. Athena booked CYP 470.126 in realised gains from sale of investments compared to only CYP 25.000 a year ago. Results were further boosted by unrealised

The Board of Directors of F.W. Woolworth & Co. (Cyprus) and Cyprus Trading Corp. (CTC) decided at separate meetings held on May 17 to propose to their respective AGMs the free distribution of buy-back shares. The Board of FWW decided to propose at the AGM of the company, to be held on June 8 the

Vassilis Rologis has been elected as the new Chairman of the Board of Bank of Cyprus Group following a stormy Annual General Meeting of shareholders, where Board and Management came under intense criticism for their handling of issues at the Group. The AGM also saw the departure of Solon Triantafyllides after 17 years at the

Arrivals of tourists took a dive in April, falling by 4.0% year on year, after the Protest and Catholic Easter celebrated in March had pushed arrivals up by 22.4%. On the basis of the results of the Passengers Survey, arrivals of tourists reached 183,561 in April 2005 compared to 191,251 in April 2004. For the