Cyprus Business Now

Consulting and advisory firm PwC Cyprus on Thursday announced that it recently hosted an ACA Award Ceremony at its Experience Centre.

According to the announcement, the event recognised the academic achievements of two outstanding ACA trainees, Avra Constantinidou and Calise Bahou, for their excellent performance in the ACA July 2023 exams.

The ceremony welcomed Christiana Diola, Director of Europe and the European Region for ICAEW, along with Giorgos Economides and Anna Maria Piperidou, Student Engagement & Stakeholder Executives for Europe and the European Region.

Philippos Soseilos, CEO of PwC Cyprus and Anna Loizou, Chief People Officer, attended the event that was held at the company’s premises, showing their support to the next generation of accounting professionals.

The company said that Avra Constantinidou achieved a notable 91 per cent in the Advanced Level examination in Corporate Reporting, and Calise Bahou excelled with a score of 98 per cent in the ACA Certificate Level examination in Management Information.

The company said that “these scores are a testament to their hard work and commitment to their professional development”.

Philippos Soseilos, the CEO of PwC Cyprus, said that “we are proud to celebrate the achievements of Avra and Calise”.

“Their success in the ACA exams reflects their dedication and our collective commitment to nurturing talent,” he added, noting that “these accomplishments underscore the importance of providing a supportive and engaging learning environment for our trainees”.

“This ceremony is not only about recognizing individual achievements, but also about highlighting the collective effort of our instructors, mentors and trainees in striving for academic and professional excellence,” the PwC Cyprus CEO concluded.

The administrative council of state-owned asset management Kedipes decided this week to allocate a cash payment of €80 million to the state for the third quarter of 2023, according to an announcement released on Thursday.

In its statement, Kedipes said that this disbursement falls within the framework of repaying state aid previously received by the former Cyprus Cooperative Bank.

Since its inception, Kedipes has now disbursed a total of €1.16 billion in cash repayments related to state aid, with €280 million settled within the year 2023 alone.

At the same time, the announcement noted that a reserve of €60 million in cash is being maintained, in order to finance the mortgage-to-rent scheme, for which Kedpes acts as the implementing body.

The Cyprus Stock Exchange (CSE) ended Thursday, December 14 with profits.

The general Cyprus Stock Market Index was at 135.68 points at 13:06 during the day, reflecting an increase of 0.33 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 82.39 points, representing a rise of 0.35 per cent.

The total value of transactions came up to €164,463 until the aforementioned time during trading.

In terms of the sub-indexes, the main and investment firm indexes rose by 0.44 per cent and 0.71 per cent respectively. The alternative index fell by 0.05 per cent while the hotel index decreased by 2.1 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (+0.59 per cent), Hellenic Bank (0.44 per cent), Demetra (+2.22 per cent), and Blue Island (+6.17 per cent).