Cyprus Business Now

Following a decision by the Board of Directors of Alpha Bank Cyprus and the necessary approvals from regulatory authorities, Miltos Michaelas has taken on the role of CEO of Alpha Bank Cyprus.

“The appointment of Michailas as CEO highlights the determination of the Shareholder and the Bank’s Board of Directors to swiftly implement the developmental Business Plan of Alpha Bank Cyprus Ltd,” the Bank stated in a press release.

It further noted that in conjunction with the Group’s new Strategic Plan, presented at the recent Investor Day, and the completion of Project Sky, which reduced the NPL ratio of Alpha Bank Cyprus Ltd to around 5 per cent, “the foundations are being laid for the provision of modern products and services, the development of business banking, and the support of the progress of Cypriot society and economy.”

The new CEO of Alpha Bank expressed his gratitude to the Group for the trust shown in him.
“Together with our team, with responsibility and outward focus, we will implement the Bank’s strategic plan and position it as a key partner for Cypriot entrepreneurship and the broader society,” Michaelas stated.

The School of Economics and Management at the University of Cyprus celebrated its annual awards ceremony, honouring the top-performing students for the academic year 2022-2023.

A total of €69,400 in monetary prizes was bestowed upon the outstanding scholars during the event, held at the university’s ceremonial hall.

According to an announcement, distinguished representatives from numerous companies and organisations within Cyprus’ business community generously contributed financial awards to recognise the efforts and achievements of the school’s students.

These awards acknowledged their exceptional academic performance, ethical conduct, and social contributions.

A special moment during this year’s ceremony was the presentation of honorary plaques by the University of Cyprus rector to those individuals who contributed to the AACSB (Association to Advance Collegiate Schools of Business) accreditation process of the school but are no longer affiliated with it.

Recently, the school received accreditation for its study programmes from the international organisation AACSB, making the University of Cyprus the first university in Cyprus and Greece to achieve this distinction.

The AACSB accreditation recognises institutions that excel in all areas, including teaching, research, programme development, and learning outcomes.

The Cyprus Stock Exchange (CSE) ended Thursday, June 29 with losses.

The general Cyprus Stock Market Index was at 116.76 points at 13:34 during the day, reflecting a decrease of 0.17 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 70.61 points, representing a drop of 0.20 per cent.

The total value of transactions came up to €115,697.

In terms of the sub-indexes, the main, alternative, investment firm indexes fell by 0.18 per cent, 0.19 per cent and 0.89 per cent respectively, while the hotel index rose by 4.24 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Demetra (-0.93 per cent), Hellenic Bank (no change), the Cyprus Cement Company (no change), and Petrolina Holdings (-0.88 per cent).