The Laiki Group (CPB) issued a positive profit forecast announcing that the financial results for the first quarter of 2005 will show an improvement compared to the corresponding period of 2004. The improvement is attributable to the increased profitability of the Group on an operational level and also the further reduction of the provision for
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Attorney General Solon Nikitas has announced that he will submit his resignation to President of the Republic Tassos Papadopoulos. In a written statement, he expresses ‘regret’ at a decision by the Supreme Court, by nine votes to three, to acquit former Health Minister Constantina Akkelidou of charges of interfering with the course of justice. ‘There
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Year-end forecast calls for 50% increase in profits Bank of Cyprus (BOC), reporting its first quarter results on May 12, 2005 is seen lifting net profits by an average 40% on the back of higher interest income, a slow pace of provision increases and a positive impact from the rapid increase in equity prices during
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Good political reasons for doing it now The Cyprus pound could quietly slip into the Exchange Rate Mechanism (ERM) over the holiday weekend, one year after it entered the EU, and officially start trading under the official CYP/EUR parity on May 2, according to information obtained by the Financial Mirror. Senior Central Bank sources told
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While most EU leaders fret about what will happen to the grand European project if French voters reject the Constitution on May 29, Economist Europe Editor Bruce Clark explained why the ‘newspaper’, as its employees like to call it, has argued that the best place for the EU Constitution is in the bin. When the
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Cyprus has a long way to go to implement the European Union values enshrined in Article 1-2 of the EU Constitution, said Vice-President of the opposition DISY party Katy Clerides, speaking at a panel discussion organised by the Economist magazine last Thursday. Article 1-2 of the constitution refers to common values of “a society in
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