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Financial Mirror (Cyprus) - - FRONT PAGE -

com­pany, said the sec­tor is suf­fer­ing from long de­lays in per­mits, ram­pant vi­o­la­tion of safety rules by sub­con­trac­tors, mas­sive in­creases in cost and ever in­creas­ing gov­ern­ment taxes and fees.

The stock ex­change is un­der­go­ing rad­i­cal changes af­ter split­ting into the Main, Al­ter­na­tive and Par­al­lel mar­kets, with the fam­ily own­er­ship cap raised from in the Al­ter­na­tive sec­tor 70% to 74.99%, which would de­prive strate­gic in­vestors as the 25% free-float re­mains. The Par­al­lel cap is then raised to 80% or the max­i­mum 90%.

CSE takeovers:

GDP growth:

Real GDP growth is ex­pected at 4% in 2005, up from 3.7% in 2004, with the bud­get deficit seen at 2.9% of GDP, com­pared with 4.2% in 2004. The Economist’s EIU projects 3.6% GDP growth in 2005 and 3.0% in 2006.

Un­em­ploy­ment rose to 3.3% in Septem­ber, from 3.1% a year ear­lier, but be­low the 3.6% seen in Au­gust. The big­gest rise was in con­struc­tion and the big­gest fall in public ed­u­ca­tion, where un­em­ployed teach­ers were hired in Septem­ber.

Bank of Cyprus shares closed at a new high of EUR 4.24 (CYP 2.43) in Greece, on four times the vol­ume traded in Cyprus. Since the start of the year, BOCY is up 58%. In other news, com­men­ta­tors were talk­ing about

Ger­many’s new and first woman

Job­less up:

BOCY shares up:

An­gela

Merkel,

Chan­cel­lor…

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