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Financial Mirror (Cyprus) - - FRONT PAGE -

tak­ing it below the price quoted on the CSE for the first time in a year. BOC came un­der sell­ing pres­sure with hedge funds rush­ing out of emerg­ing mar­kets like Rus­sia, Turkey, Saudi Ara­bia and Greece, fall­ing 9.94% from EUR 7.04 the pre­vi­ous Fri­day to 6.34 or CYP 3.64, with 4.78 mln shares traded.

Ex­ports

un­clear:

While to­tal ex­ports in the 11 months of 2005 rose 23.7% to CYP 619.4 mln, com­pared to the year-ear­lier pe­riod, do­mes­tic ex­ports fared badly, fall­ing 0.52% to CYP 217.64 mln, de­spite a boom in in­ter­na­tional sales of hal­loumi, phar­ma­ceu­ti­cals and fur­ni­ture. The rise in re-ex­ports came mainly from oil and ma­chines, mostly stored in Li­mas­sol port.

S&P

reaf­firms A:

Stan­dard & Poor’s reaf­firmed its ‘A’ long-term and ‘A-1’ short­term sov­er­eign credit rat­ings for Cyprus, with the out­look re­main­ing ‘sta­ble’ based on a pros­per­ous and re­silient econ­omy. The agency warned that Cyprus’ brief track record on fis­cal pru­dence, high pub­lic sec­tor debt bur­den and po­ten­tial ex­ter­nal liq­uid­ity pres­sures place some con­straints on the rat­ings.

East­ern Mediter­ranean Re­sources, that is ex­plor­ing for cop­per in Cyprus, the Balkans and the Cau­cuses has placed 12 mln new shares of 0.25p each on the Lon­don al­ter­na­tive AIM mar­ket, with the aim of rais­ing GBP 1.5 mln to be used as fur­ther work­ing cap­i­tal in all its li­cense ar­eas.

EMED

on AIM:

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