Bounced cheques, Kiliaris returns to Louis
Bounced cheques totaled 250,000 worth CYP 25 mln in 1994 and in the first two months of the year the value reached CYP 443,000, while two weeks after his resignation from the Trade Ministry, Stelios Kiliaris has returned to the Louis Group according to the issue 112, on May 24, 1995.
Despite the efforts of the police, banks and business associations, 250,000 cheques worth CYP 25 mln bounced last year, with the problem increasing. One major bank sent back 175,000 cheques because they were issued with no collateral, raising the total of returned cheques to 420,000.
Kiliaris at Louis:
Tow weeks after quitting the cabinet, former Commerce and Industry Minister Stelios Kiliaris has returned to the Louis Organisation as Group General Manager, the same post he held prior to his public appointment, while he has also been appointed vice president of the board of IMC.
French joint venture Aeroport De Paris (ADP) and Sofreavia secured a CYP 992,000 contract to draft construction plans fro a new international airport in Paphos. The new passenger terminal must accommodate 1.7 mln travelers, rising to 2.8 mln.
Lombard Natwest Bank said it was the most successful of foreign banks in Cyprus, with net operating profits rising from CYP 594,000 to 1 mln, loans rising from CYP 75 mln to 98 mln, and deposits up 23% from CYP 118 mln to 145 mln.
Oh, and Hellenic Bank was advertising itself as “A modern Cypriot Bank”…