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Financial Mirror (Cyprus) - - FRONT PAGE -

The Laiki Bank ex-rights shares ad­just­ment dragged the CSE lower with the com­pany deny­ing that there was a 3-way merger in the mak­ing with Marfin and Eg­na­tia, while Vas­si­liko Ce­ment an­nounced it was to pro­duce 40% of its en­ergy needs from waste, ac­cord­ing to the is­sue 664, on March 29, 2006.

Laiki of­fi­cials de­nied that a 3-way merger was in the mak­ing with Marfin and Eg­na­tia, af­ter An­dreas Vgenopou­los’ in­vest­ment arm con­trolled 9% of Laiki and ac­quired 34% of Eg­na­tia.

Laiki trou­bles:

The bank’s General Man­ager Michalis Louis re­ferred to sim­i­lar com­ments by Chair­man Kikis Lazarides and Deputy Chair­man Vgenopou­los. This fol­lowed con­cerns that the stock was un­der pres­sure and had lost 9% so far when a 23cent ad­just­ment of the shares that trade ex-rights forced the CSE lower. The Bank of Cyprus stock was also un­der pres­sure, shed­ding some 1.5% in Cyprus and in Athens.

Vas­si­liko waste:

Vas­si­liko Ce­ment Works in­ten­si­fied its ef­forts to mod­ernise and cut costs say­ing it would pro­duce up to 40% of its en­ergy needs from lo­cally pro­cessed re­cy­cled waste, fol­low­ing the favourable trend in pro­duc­tion and ex­ports as sales were up 15% to CYP 45.8 mln.

The Cyprus, Thes­sa­loniki and Athens bourses have won a Euro­pean Com­mis­sion ten­der to de­velop the Egyp­tian Cap­i­tal Mar­kets Au­thor­ity (CMA), ac­cord­ing to CSE General Man­ager Non­das Me­taxas. The project will pro­vide sup­port on ca­pac­ity build­ing, pro­ce­dures, ac­cred­i­ta­tion and le­gal ad­vice.

The Green Dot non-profit set up by the Cham­ber of Com­merce (KEVE) and other com­mer­cial com­pa­nies, is ready to start pack­ag­ing waste as its membership of com­mu­ni­ties and cor­po­rate stake­hold­ers has reached 110, ac­cord­ing to its General Man­ager Kyr­i­akos Paro­pounas. And dis­trib­u­tor es­tab­lished by Takis Pho­ti­ades, was cel­e­brat­ing 50 years of Valio dairy prod­ucts in Cyprus, in­clud­ing the trade­mark Pen­guin cheese.

CSE in Egypt:

Green Dot:

IPH,

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