Financial Mirror (Cyprus) - - FRONT PAGE -

weekly gain of 5% and 56% year-to-date. Deutsche Bank is­sued a buy sig­nal and a price of EUR 4.72 (CYP 2.70), while Ar­tion Se­cu­ri­ties set a tar­get of EUR 4.81 (CYP 2.75).

Mar­ios Clerides, Se­curties and Ex­change Com­mis­sion Chair­man, said that the stock ex­change “is on the right track” of clear­ing its house, ad­mit­ting that stricter reg­u­la­tions were time con­sum­ing, but not so much as to kill off the Cypriot bourse, said the man cred­ited with bring­ing or­der to the chaos that pre­vailed af­ter the 1999 boom and bust.

The bud­get deficit in the sec­ond

Bud­get deficit:





quar­ter of 2005 widened to CYP 76.7 mln, com­pared with 49.1 mln a year ear­lier, amount­ing to 3.9% of GDP, es­ti­mated at CYP 1.977 bln. With the gov­ern­ment aim­ing for a lower deficit of 2.9% of GDP by the end of the year, the tax amnesty that ended in the first quar­ter pushed the first half into a sur­plus.

A fresh at­tempt to ex­pand and up­grade the ma­rina at Po­tima in Paphos as “the gate­way to the west” will be made this year with a build-op­er­ate-trans­fer (BOT) plan for 1,000 boats and in­creas­ing the de­vel­op­ment area from 15,000 sq.m. to 40,000, while im­prov­ing the lease from 45 years to 90.

Yian­nos and Rea An­dronikou of the Suphire Group face 28 counts of mis­ap­pro­pri­a­tion of the CYP 4.88 mln EAC Staff prov­i­dent Fund. They were re­leased on CYP 50,000 bail pend­ing a hear­ing on Septem­ber 28.

Paphos ma­rina:



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