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trades in Greece. Both markets were anticipating another strong improvement in first nine month results, with Morgan Stanley expected to issue a new stock report.
The French retail giant and its Greek venture-partner, Carrefour Marinopoulos, have already concluded a deal for the six-store chain of Chris Cash and Carry and are looking for prime properties in Nicosia, which accounts for 40% of the retail sector. Rumours suggest talks with the Shacolas Group for a 5,000 sq.m. store in the new Shacolas Park mall where IKEA (via Greek Fourlis) has already expressed an interest to open up shop.
Telecom newcomer Cablenet
is expanding from its cable TV business and launches its broadband Internet service with speeds up to 4Mbps, while very soon it said it will venture into the telephony market. On the other hand, Cytamobile has launched the Vodafone Live! service to lure subscribers to new features such as news, sports and entertainment.
Major investors are keen to attract new buyers for Hellenic Bank shares where the Church still controls some 16%, while BOC and Laiki have 8.5% and 8%, respectively, and Universal Life a further 5.5%. New investors will also help raise capital and remove the stranglehold by the rival banks, according to investors.
Cyprus was ranked mid-way among European states in the latest Transparency International corruption perceptions index (CPI), ranked 37th, stuck between Slovenia and Hungary.