TTTTHHHHEEEE FFFFIIIINNNNAAAANNNNCCCCIIIIAAAALLLL MMMMIIIIRRRRRRRROOOORRRR TTTTHHHHIIIISSSS WWWWEEEEEEEEKKKK
higher, even faster that in the U.S. The biggest deal was CYP 21.6 mln for the 100% takeover of Chris Cash & Carry by Carrefour Marinopoulos, followed by Nasos Ktorides acquiring the remaining 30% of Quantum Corp. for CYP 3 mln.
New face at BOC:
A decade after Bank of Cyprus launched an ambitious plan to transform the century-old bank into a modern financial group, the new management team headed by CEO Andreas Eliades and flanked by Charilaos Stavrakis and Yiannis Kypri announced changes in the way the bank welcomes customers, with the motto “The customer is king”.
The shipping industry has seen two years of very strong growth, thanks to a range of factors, while continued strong demand from China could mean that the outlook continues to be favourable into 2006, but there are plenty of downside risks, Martin Stopford, Director of Clarksons told the Maritime Cyprus conference in Limassol.
Shipping Council President Andreas Droussiotis said he was hopeful that Turkey would lift the embargo on Cyprus ships and aircraft as early as next March.
Property sales down:
Property sales declined by 29% y-o-y in the first half of the year to CYP 442 mln, due mainly to the introduction of VAT, higher transfer fees, rising cost of construction material and the slowdown in the economy and income growth.