Financial Mirror (Cyprus) - - FRONT PAGE -

Bot­tling Co. buy­ing out the Lani­tis fam­ily from Coke-bot­tlers Lani­tis Bros for CYP 50 mln. This brings the to­tal Greek in­vest­ments in four years to CYP 170 mln (EUR 290.5 mln). Zenon SA is set to take over Me­ga­bet for CYP 2 mln, while Aspis Pronoia is ex­pected to bid CYP 16.5 mln for a 61% stake in Univer­sal Life, cur­rently held by Laiki and Bank of Cyprus. Ear­lier deals in­cluded OPAP SA tak­ing a 90% stake in Glory Leisure for CYP 9.3 mln in 2003 and Hel­lenic Petroleum buy­ing 70 petrol sta­tions from BP for CYP 55 mln in 2002.

GDP growth:

Real GDP growth was 3.8% in the third quar­ter, be­low the Fi­nan­cial Mir­ror’s forecast of 3.9% in Septem­ber and is set to hit 4% by the end of the year, boosted by the fi­nance and real es­tate sec­tors.

Home prices drop:

Home sell­ing prices dropped by 0.8% in Novem­ber ac­cord­ing to the Buy­Sell In­dex, bring­ing the av­er­age home price down by CYP 800 to CYP 85,998, but the year-to-date gain is still at 3.3%.

The Com­pe­ti­tion Pro­tec­tion Com­mis­sion has slapped a CYP 693,000 fine on the EAC, in­stead of CYP 22 mln based on an­nual rev­enues of CYP 220 mln, for un­fair prices on con­sumers and cross-sub­sidi­s­a­tion.

The raised US in­ter­est rates by a quar­ter point to 4.25%, fu­tures held at just above $61 a bar­rel and hit its high­est level since 1981 at $540.


fined: Fed crude oil Gold

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