The two major issues that dominate today's financial press are the implications of BP acquisition by the "Hellenic Petroleum" Group, as well as fuel price release.
The "Economy" inset of newspaper "Phileleftheros" under the title "EL.PE: CYP 14 million for BP" mentions that this amount corresponds to the assets value of BP Cyprus Ltd, sold to the "Hellenic Petroleum" Group. EL.PE and BP confirmed the agreement, while top executives of EL.PE are to visit Cyprus soon.
The report also highlights that the Minister of Commerce and the president of the Competition Protection Committee - who will have to validate the agreement - "do not discern problems over the acquisition at first sight, as EL.PE will acquire the subordinate market share of BP Cyprus Ltd". However, "no-one can foresee final decisions". The newspaper also refers to EL.PE top executives and their visit to Cyprus by next week. According to the report, the executives will discuss the issue of fuel storage in Greek refineries on behalf of Cyprus, the supply of several products, such as asphalt and their interference in natural gas transportation plan.
Elsewhere, the inset quotes that GLC will return to CSE's trading floor on Monday under a 15-day “special” trading status.
The "Economy" inset of newspaper "Simerini" under the title "Price release from October 1, 2003" highlights that fuel price release will reduce price differential between petrol and diesel. However, this release will be gradual as "there is a need to stop price support" and re-adjust prices (currently some products are overpriced to subsidize the losses of other underpriced products).
According to the time schedule, price re-adjustment is to take place on January 1, 2003 and on July 1, 2003.
Elsewhere, the newspaper mentions that the authorities examine in depth the agreement between BP and EL.PE.
The "Economic" inset of newspaper "Alithia" under the title "What is going on with pensioners' benefit" deals with the statements of the manager of Social Welfare Department (to the parliamentary committee of Employment) that her department "is not aware of 'who' and 'how' will provide the benefits". In the meanwhile, pensioners expect the benefits as an offset to the increased VAT within November. The newspaper also stresses that there are thousands of delayed applications concerning other subsidies as well.
Elsewhere the inset refers to Trade Union’s (SEK) appraisal to government over the decline in heating oil prices.
The "Economy" inset of newspaper "Phileleftheros" under the title "EL.PE: CYP 14 million for BP" mentions that this amount corresponds to the assets value of BP Cyprus Ltd, sold to the "Hellenic Petroleum" Group. EL.PE and BP confirmed the agreement, while top executives of EL.PE are to visit Cyprus soon.
The report also highlights that the Minister of Commerce and the president of the Competition Protection Committee - who will have to validate the agreement - "do not discern problems over the acquisition at first sight, as EL.PE will acquire the subordinate market share of BP Cyprus Ltd". However, "no-one can foresee final decisions". The newspaper also refers to EL.PE top executives and their visit to Cyprus by next week. According to the report, the executives will discuss the issue of fuel storage in Greek refineries on behalf of Cyprus, the supply of several products, such as asphalt and their interference in natural gas transportation plan.
Elsewhere, the inset quotes that GLC will return to CSE's trading floor on Monday under a 15-day “special” trading status.
The "Economy" inset of newspaper "Simerini" under the title "Price release from October 1, 2003" highlights that fuel price release will reduce price differential between petrol and diesel. However, this release will be gradual as "there is a need to stop price support" and re-adjust prices (currently some products are overpriced to subsidize the losses of other underpriced products).
According to the time schedule, price re-adjustment is to take place on January 1, 2003 and on July 1, 2003.
Elsewhere, the newspaper mentions that the authorities examine in depth the agreement between BP and EL.PE.
The "Economic" inset of newspaper "Alithia" under the title "What is going on with pensioners' benefit" deals with the statements of the manager of Social Welfare Department (to the parliamentary committee of Employment) that her department "is not aware of 'who' and 'how' will provide the benefits". In the meanwhile, pensioners expect the benefits as an offset to the increased VAT within November. The newspaper also stresses that there are thousands of delayed applications concerning other subsidies as well.
Elsewhere the inset refers to Trade Union’s (SEK) appraisal to government over the decline in heating oil prices.
3287.99
1275.09
