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joined the ERM2 and after the 0.50% rate cut, with the long-dated bond yields tumbling a whopping 100 bps while the Central Bank was flooded with CYP 575.5 mln worth of bids for CYP 260 mln of securities on tender.
Cyprus’ contribution to the EU’s 2005 budget will reach 157 mln euros,
about 3 mln less than initially planned European Commission after revisions.
Businesses should start planning for the euro immediately, because it will affect all kinds of operations, from the purely technical to a company’s wider strategy, said Kyriacos Zingas, Senior manager of the Financial Markets and Public Debt Management Division at the Central Bank of Cyprus.
The Cabinet adopted a proposal to extend the retirement ceiling for civil servants to the 63rd year of age.