KEDIPES – the asset management state company formed to undertake the non-performing loans of the collapsed Co-operative Bank of Cyprus – is to get rid of its 49% stake in Altamira Asset Management (Cyprus) Ltd, according to informed sources.

The Central Bank of Cyprus has released the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans in euro, as well as data regarding volumes (amounts) of new euro denominated loans for the reference month of July 2019.

Cyprus-based Eurobank posted improved net profits in H1 2019 of €24.2m slightly up from €24.1m in the same six-month period last year.

Cyprus Airways recently announced a three-day offer with discounts of up to 46% on all destinations.

Cypriots spend 89% of their travel expenditure on trips abroad, much more than the average European, who spends 56% on trips abroad and 44% on domestic vacations, according to recent Eurostat figures.

Τotal new loans given out by Cyprus’ banks fell €90m to €249m in July 2019 compared with June’s €339.1m according to data released by the Central Bank recently.

Beekeepers announced recently they had secured a trademark that would be placed on all locally-produced honey packaging, allowing for the easy recognition of the “quality and authenticity” that defines Cyprus honey.

Economic development in Cyprus is slowly but surely fostering increased social cohesion, Finance Minister Harris Georgiades said after the results of an EU-wide survey on income and living conditions (Silc) showed figures he claims are at pre-crisis levels.

Only one-third of CEOs (34%) believe the C-suite model is well-suited to the demands and opportunities of the next decade, according to the EY CEO Imperative Study 2019 which surveyed 200 CEOs, 100 senior institutional investors and 100 independent board members. However, CEOs and boards have been changing the face of the management model, with top positions added over the last five years including chief innovation officer, chief digital officer and chief strategy officer.

The public consultation prior to the auction procedure of 5G radio spectrums (700 MHz, 3.6 GHz, 26 GHz) is underway, the department of electronic communications has announced.