Big Mac is here, Tetra-Pak packs up

The iconic golden arches of the fast-food McDonald’s chain is about to open its first outlet in Cyprus, with suppliers excited they will get lucrative contracts, while another brand, Tetra-Pak, is closing down its Cyprus office, according to the issue 183, on October 16, 1996.

The McDonald’s chain is expected to open its first fast-food restaurant in Cyprus in less than a year’s time, operated by Michalakis Varnava from Larnaca who has a successful chain of stores in Germany and is planning to relocate back home. The chain will open stores in Nicosia, Limassol and Larnaca, aims to sell about

Hold

your

buns:

1,500 burgers a day at each outlet and will have its first drive-thru at the end of 1997. Already, Pancyprian has clinched the dealt to supply Macstandard buns, Chrysi Patata will provide the fries and Gregoriou/Lambrianides the burgers. Coke will be the drinks supplier of choice.

Packaging giant Tetra-Pak is shutting its Cyprus offshore office and relocating probably to Egypt, a decision that will deal a major blow to the island’s reputation as a financial service centre and efforts to attract international brands. A total of 45 jobs will be lost due mainly to a rising cost of living and a strong value of the Cyprus pound.

The rate of growth is forecast to reach 3.5% in 1997 according to optimistic comments in parliament by Finance Minister Christodoulos Christodoulou.

Tetra

pack up:

Growth:

Milosevic

to

visit:

Serbian President Slobodan Milosevic will visit Cyprus, invited by Foreign Minister Alecos Michaelides, after signing several protocols of cooperation in Belgrade. (Ed’s note: well, we all know

how that turned out…)