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Marfin recently took a controlling stake. Laiki Chairman Kikis Lazarides echoed similar aspirations saying that through the merger of Marfin and Egnatia a new bank would be created, depending on the net worth of Laiki Hellas and that the Laiki Group would have a 40% share of the new entity.
Gold hits $600:
Gold prices rose to a 25-year high of $603 an ounce, having appreciated by 41% in the past year alone and on its way to reaching the $873 level last seen in 1980. The surge was driven by hedging against inflation and a safe haven from the fears of a US attack on Iran, the fourth biggest crude oil producer in the world. Investments are also turning to commodities, such as copper, silver tracked gold price surge, rising to $12.90 an ounce.
The European Union’s own top level domain (TLD) of .eu came into force paving the way for EU organisations and companies, including from Cyprus, to acquire the unique domain.
Cyprus has the lowest rate of broadband use among enterprises in the EU, with a 40% penetration rate, compared to the EU average of 65% and the EU-high of 82% in Denmark. Household usage was also the lowest at 4%, compared to the 23% EU average and the highest 54% recorded in the Netherlands.