Cyprus Business Now

Alpha Bank Cyprus on Tuesday announced a new deposit interest rate for private accounts over €50,000 that reaches up to 2.10 per cent.

In their official announcement, the bank stated that private individuals can take advantage of the Alpha Time Deposits product, which is offered for deposits over €50,000 and carries a fixed interest rate for a predetermined period of time.

This means that those who have saved up a significant amount of money can now benefit from an attractive interest rate.

The Alpha Time Deposits product offers a range of interest rates depending on the term of the deposit.

For a 12-month period with an interest rate of 1.20 per cent, for an 18-month period with an interest rate of 1.60 per cent, and for a 24-month period with an interest rate of 2.10 per cent.

It’s worth noting that the interest payment is made at the end of the term deposit. This means that customers will receive the accumulated interest in a lump sum when the term deposit matures.

The Cyprus Institute of Marketing (CIM) this week announced that it will be hosting an event on May 10, 2023, to celebrate its 45th anniversary.

The event will be held at Pralina Experience in Nicosia, between 17:00-19:00. House Speaker Annita Demetriou will be present at the event.

According to the announcement, the event is being held to celebrate CIM’s “ongoing commitment to success and evolution”.

The Minister of Labour, Yiannis Panayiotou, and the Mayor of Nicosia, Constantinos Giorkadjis, will also address the gathering.

In addition, the General Director of CIM, Yiangos Hadjiyiannis, and its founder, Theophanis Hadjiyiannis, will address the audience at the event.

Finally, the announcement noted that in its 45 years of existence, CIM has graduated more than 10,000 students from Cyprus and abroad.

The Cyprus Stock Exchange (CSE) ended Tuesday, May 9 with losses.

The general Cyprus Stock Market Index was at 107.18 points at 12:58 during the day, reflecting a decrease of 0.06 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 64.84 points, representing a drop of 0.08 per cent.

The total value of transactions came up to €38,305.

In terms of the sub-indexes, the main, investment firm and hotel indexes all fell, dropping by 0.44 per cent, 4.52 per cent and 0.70 per cent respectively. The alternative index rose by 0.42 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (+1.67 per cent), Hellenic Bank (no change), Demetra Holdings (-4.76 per cent), K+G Complex Public Company (+2.86 per cent), as well as Vassiliko Cement Works Public Company (-1.46 per cent).