Shareholders of bailed-out Cyprus’s biggest bank have elected former Deutsche Bank chief Josef Ackermann as the new chairman. The vote on Thursday came after the Bank of Cyprus passed a European in-depth review of its
OTE telecom has selected the Eutelsat KA-SAT to deliver new satellite broadband service to homes across Greece. The satellite broadband service will be delivered alongside OTE’s TV platform broadcast from the Eutelsat 9A satellite. The broadband service and the TV platform will share the same orbital position as KA-SAT.
Russia via Turkey and Bulgaria and most of the rest shipped in as LNG from Algeria into the Revythousa terminal near Athens. The country has sought to diversify supplies after it was forced to import more LNG and switch a power plant to oil in January 2009, when a dispute between Russia and Ukraine disrupted flows to the region. The Trans Adriatic Pipeline, or TAP, will carry Azeri gas across Greece and Albania to Italy from the Turkish border. Construction on the link with capacity of 10 billion cubic meters (350 billion cubic feet) a year is planned to start in 2016, according to the company, a venture that includes BP Plc and Statoil ASA. finances last month. The bank had earlier bolstered its capital base by raising 1 billion euros. US billionaire Wilbur Ross, who led a group of investors in pouring tens of millions into the bank, was elected vice chairman. Russian Vladimir Strzhalkovsky stays on also as vice chairman. Bank of Cyprus still faces major hurdles – half of all its loans are soured. Police kept several dozen angry bondholders who lost money in Cyprus’s multibillion-euro international rescue deal last year from forcing their way into the bank’s headquarters.