Financial Mirror (Cyprus) - - FRONT PAGE -

nu­clear pro­gramme added pres­sure to OPEC out­put, but traders sought to take profit on the price dis­par­ity as crude val­ues may re­sume their up mo­men­tum when sup­plies will no longer meet de­mand.

The CTO ap­pealed to Rus­sian in­vestors to take part in the cre­ation of about 11 golf courses on the is­land, with 29 projects sub­mit­ted to the state last Novem­ber and 15 still in the run­ning. The Rus­sian Golf As­so­ci­a­tion held its an­nual meet­ing at the Aphrodite Hills re­sort in an event spon­sored by the Rus­sian Com­mer­cial Bank, whose




chief ex­ec­u­tive Mikhail Ku­zovlev said that golfers are rapidly choos­ing Spain and that 500 new courses are un­der­way in Rus­sia.

Rosamara Trad­ing, a Cyprus­based in­vest­ment firm, is su­ing Turkey’s Tel­sim for $738 mln in dam­ages from un­paid prom­is­sory notes is­sued in 2003. Lawyer Michalis Michaelides said that com­pli­cat­ing the mat­ter was the in­volve­ment of Voda­fone that won the $4.5 bln bid for Tel­sim’s as­sets from the auction held by Turkey’s state so­cial in­sur­ance fund (SDIF).

Tel­sim sued:




Carls­berg CEO Nils An­der­sen was in Cyprus to meet lo­cal brew­ers Ph Pho­ti­ades and dis­cuss ex­pan­sion to Greece, while the Dan­ish beer­maker plans to ex­pand to Asia, and par­tic­u­larly China, where it has al­ready built up a 63% mar­ket share in just two years.

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