Cyprus Business Now

The City of Dreams Mediterranean has been honoured with the title of the world’s best new luxury resort-casino at the Seven Stars Luxury Hospitality and Lifestyle Awards 2023 (SSLHLA).

In a statement released this week, the City of Dreams Mediterranean noted that this award represents a significant milestone in the history of the awards, marking the first time this specific recognition has been bestowed.

According to the organizers, it signifies the exceptionally high standard set by the establishment, establishing a new benchmark for luxury resort casinos worldwide.

During a ceremony held in Crete on October 28, the City of Dreams Mediterranean was presented with the Signum Virtutis seal of excellence, the highest accolade for top luxury and lifestyle destinations.

Grant Johnson, the General Manager of the City of Dreams Mediterranean, expressed his immense pride at receiving this recognition.

“This award is evidence of the hard work that has been put in over the past five years, as well as our passion and dedication to excellence,” he stated.

George Mais has been re-elected as the President of the Paphos Chamber of Commerce and Industry (Evep) for another three-year term, spanning the period 2023-2026.

Mais’ re-election was announced on Thursday, following a meeting of the chamber’s new administrative council on November 1, 2023.

According to the chamber’s official statement, the organisation’s constitution, Article 30(1), stipulates that “within ten days or even a shorter timeframe, if possible, from the convening of the Electoral Assembly, the Council Members, as mentioned in Article 29(b), shall convene a meeting to elect the President, five Vice Presidents, and the Honorary Secretary for their term”.

The re-election of George Mais as Evep president for the 2023-2026 period signals a continuation of his leadership during a time marked by both local and global economic challenges.

These challenges include the repercussions of Russia’s conflict with Ukraine and Israel’s war with Hamas, which have introduced significant uncertainties in the economic landscape.

Meanwhile, Mais expressed his commitment to dedicating all his efforts to the benefit of the local business and industrial community and the broader economy.

In addition, he highlighted his intention to vigorously advance infrastructural projects of regional significance for the Paphos district.

The statement also revealed the newly elected vice presidents, including Michalis Michael, Vice President of Industry; Michalis Hadjimitsis, Vice President of Commerce; Stephanos Stephanou, Vice President of Finance; Chrysas Chrysanthou, Vice President of Tourism; and Nikos Kouvaros, Vice President of Services.

Finally, Lefteris Aristodemou has been elected as Evep’s new honorary secretary.

The Cyprus Stock Exchange (CSE) ended Thursday, November 2 with losses.

The general Cyprus Stock Market Index was at 126.48 points at 13:00 during the day, reflecting a decrease of 0.18 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 76.65 points, representing a drop of 0.18 per cent.

The total value of transactions came up to €233,286.

In terms of the sub-indexes, the main and alternative indexes fell by 0.06 per cent and 0.27 per cent respectively. The hotel index remained unchanged, while the investment firm index rose by 0.76 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (-0.34 per cent), Hellenic Bank (-0.45 per cent), Petrolina Holdings (+0.91 per cent), Demetra Holdings (+0.79 per cent), Vassiliko Cement Works Public Company (-1.96 per cent).