ANCIIAL MII ROR THII WEEK

Financial Mirror (Cyprus) - - FRONT PAGE -

GENX in­dex roar­ing above the 80 points level. Bro­ker Costas Had­ji­gavriel said that this level would soon be­come his­tory and a sharp re­bound in prof­itabil­ity is likely to lead prices higher, while Polys Polykar­pou was equally bullish pre­dict­ing the in­dex will hit a tar­get of 150 points within the nest two years.

The com­bined as­sets of the 24 ap­proved in­vest­ment com­pa­nies listed on the CSE fell by 1.33% in the fourth quar­ter to CYP 208 mln, from 210 mln at the end of Septem­ber and 230 mln at the end of March the pre­vi­ous year, with cash bal­ances push­ing the NAV fur­ther down. Best per­form­ers in­cluded Dodoni and Apollo with a 2% rise in NAV, with Deme­tra the worst as its NAV fell 4% in the fourth quar­ter.

Fi­nance Min­is­ter Makis Ker­avnos said he was sat­is­fied with the EU Fi­nance Min­is­ters (Ecofin) con­clu­sion that Cyprus has car­ried out all ef­fec­tive ac­tions to pu­rify its public fi­nances and that it has im­ple­mented all mea­sures in­cluded in its re­vised con­ver­gence pro­gramme.

The gov­ern­ment is in the fi­nal stage of award­ing the is­land’s big­gest in­fra­struc­ture project to a pri­vate con­sor­tium led by the Sha­co­las group for the con­struc­tion and man­age­ment of the Lar­naca air­port and the up­grad­ing of Paphos air­port. Her­mes com­prises CTC, Char­i­laos Apos­tolides, Egis Projects and Ia­covou Broth­ers, as well as Aer Rianta, and French Bouygues. The in­vest­ment will reach CYP 200 mln and the state will rake in CYP 40 mln a year from the 33% pro­jected share of rev­enues.

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