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from CYP 48.3 mln a year earlier to 200.4 mln, beating the 2005 all-year figure of CYP 164.3 mln. Of the 142 companies, 96 were profitable. The news comes ahead of the launch of the common trading platform with the Athens Stock Exchange in October.
The Central Bank of Cyprus raised its basic interest rates by 0.25% in a bid to curb inflation which reached 3.22% in July. The Lombard and Overnight Deposit rates were raised to 4.50% and 2.50, respectively, and the repo rate at 4.50%.
The Paphos Opera, staging Verdi’s “Un Ballo Maschera” with the Mariinsky theatre, and the Cyprus Rally later in September, are expected to boost the tourism sector, with arrivals up a marginal 0.7% in July and year-to-date arrivals up only 1.3%, due to a drop from Germany.
Hermes hiked parking rates by 300%, with the first 20 minutes free of charge and up to an hour pushed to CYP 1, from 30c before.