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CSE profits up:
CSE-listed companies more than quadrupled their combined first half profits to CYP 200.4 mln from 48.3 mln in the year-earlier period, also surpassing the all-year 2005 gains of CYP 164.3 mln. Of the 142 listed companies, 96 of them or 68% were profitable in the first half, announced on the eve of the launch of the common trading platform with the Athens stock exchange. Bank of Cyprus was the most profitable boosting 1H profits by 172% to CYP 85 mln, followed by Laiki (+111%) at 38.2 mln, Demetra Investments with 17.5 mln, Hellenic Bank (+1686%) at 15.2 mln and Interfund with 12.3 mln.
Denmark’s Prime Minister Anders Fogh Rasmussen, in Nicosia for an official visit, said
he expected from Turkey the full and unconditional implementation of the Ankara protocol, “which implies removal of all obstacles to the free movement of goods and free access to ports and airports for all EU member states, including Cyprus.” He said the negotiations on a number of chapters will depend on Turkey’s implementation of its obligations to all member states. “Non-compliance may have severe consequences on the negotiations between Turkey and the EU.” (
Louis Plc, the biggest tourism group in Cyprus, said it will look beyond the island’s shores for hotels and cruises, as it announced a turnaround in profits to CYP 5.6 mln.