Two more major shareholders as well as another board member of Lanitis Bros. threw their support behind the takeover bid submitted by 3E (Cyprus) Ltd., a wholly owned subsidiary of Greek Bottling Co, the bottlers of Coca-Cola, making the CYP 43 mln bid a foregone success. The deal, which until recently enjoyed the support of
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The Council of Ministers approved a draft law according to which the taxation of fixed odds bets is moved from the punter to the companies organising the bets, with the main objective of stamping out illegal betting activities in Cyprus. The Draft Law scraps the betting tax from the previous 25% on football and 10%
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UBS, the Swiss banking giant has named Bank of Cyprus, a mid-cap bank as its top pick for 2006 with a general bullish bias for Greek banks where it expects banking sector growth to be in excess of 25% in 2006 and 20%-plus per year during 2006-2008. UBS says BOC offers the highest potential for
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More and more French consumers looked to the internet to do their shopping in 2005, with sales totaling 2.9 bln euros (3.5 bln dollars) in 2005, a rise of 45% over the previous year, the Association for Online Commerce and Services (ACSEL) said Thursday. The number of transactions rose by 47%, to 34.8 mln, in
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Following its upward revision to the overall GDP figure last month, China’s National Statistics Bureau has reported that growth has been faster than expected for almost all of the past 12 years. Previously economists thought that China was over-estimating its growth. However, now it appears that China has been under-estimating the growth in services. Growth
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The new UN Secretary-General’s Special Representative for Cyprus and Head of the United Nations Peacekeeping Mission Operation on the island (UNFICYP), Michael Moller of Denmark assumed office on January 4. Moller succeeds Polish national Zbigniew Wlosowicz. Previously he was Acting Deputy Chef de Cabinet to the Secretary-General and Director for Political, Peacekeeping and Humanitarian Affairs
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by Athena Arsalidou Nicosia, Jan 4 (CNA) — ‘Pacts must be respected”, the Austrian EU Presidency has said, when asked about Turkey’s refusal to extend its customs union agreement to Cyprus, an EU member since 2004, noting that any breach of what was agreed would have unfavorable consequences for Turkey’s EU accession course. In an
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On the basis of the results of the Passenger Survey, revenue from tourism reached CYP 43.1 mln in November 2005, with no change on the corresponding month of the previous year. For the period January–November 2005 revenue from tourism is estimated to CYP 975.3 mln compared to CYP 953.5 mln in the corresponding period of
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