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Financial Mirror (Cyprus) - - FRONT PAGE -

The sin­gle big­gest in­jec­tion was Pi­raeus Bank that built up a 8.15% stake in Bank of Cyprus, valued at CYP 184 mln, fol­lowed by Marfin Fi­nan­cial group that bought a 9.98% stake in Laiki Bank from HSBC in a deal worth CYP 52 mln. UK-based Tosca Fund bought a fur­ther 8.2% stake in Laiki from HSBC at CYP 42.6 mln.

Fed

rates

steady:

The federal Re­serve kept the bench­mark US in­ter­est rate at 5.25%, end­ing a record two-year run of in­creases, while leav­ing room for fur­ther moves, should higher in­fla­tion per­sist. The Euro­pean Cen­tral Bank has raised its main rate four times

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