At a time when the coronavirus pandemic threatens the future of several companies, some companies saw the crisis as an opportunity to strengthen their presence in Cyprus. Specifically, from February 25, SuperHome Centers opened their 6th store in Cyprus, in Lakatamia, which will be the largest in the chain throughout Cyprus, while they plan to open three more stores in the near future, specifically in Paralimni, west Limassol. and Polis Chrysochous.
The opening of 5 more stores will proceed until the beginning of 2022 and Mc Donald's Cyprus and specifically in the Metropolis Mall in Larnaca, in an area next to the Jumbo also in Larnaca, in the discount village in Kokkinotrimithia, in the old port of Limassol and in Anthoupolis, in municipal boundaries of Lakatamia, where the former Orphanides supermarket used to be housed. With these stores, the company will increase the total number of stores it maintains throughout Cyprus to 23. H&M Hennes & Mauritz AB (H&M), one of the largest retail chains in the world, will also expand in Cyprus, announcing the opening of the 2nd of its store in Cyprus, in the summer of 2021, in Limassol. This expansion is expected to lead to the creation of new jobs and sends optimistic messages for the future of the Cypriot economy and labor market.
Losses but the Bank of Cyprus is optimistic
The Bank of Cyprus recorded losses of € 174.8 million in 2020, however it sends optimistic messages for the future. The CEO of the Bank, Panikos Nikolaou, sent a message that they managed to reduce the risk in the balance sheet, recording strong funds, despite the increase in losses. In 2020, as he explained, despite the whole situation, they managed to grant € 1.4 billion in new borrowing, in defiance of the pandemic.
As for the loan moratorium measure, he appeared optimistic, stressing that 95% of those who used the measure, by February 15 have paid their installments normally. The bet, however, for the band remains the further reduction of non-performing loans, to levels close to 5%. If this is done, however, it will pave the way, after almost 10 years, for a return to dividend policy.
260 unemployed for Covid-19 checks
The government is purchasing services from registered unemployed for a period of three months, with earnings of € 1,000 per month, with the aim of strengthening, in human resources, public services, which carry out market surveillance in the context of the imposed controls to reduce spread of Covid-19 coronavirus disease. According to an announcement by the Ministry of Energy, the inspection program will be intensified with the forthcoming easing of measures, which creates additional needs for supervision and even more systematic inspections, with emphasis on safety and health in the workplace and retail. To this end, the Ministry of Energy, Trade and Industry, which has been authorized by the Council of Ministers to proceed with a call for interest for the purchase of services, announced that until Tuesday, March 2, 2021, at 23:59, it will accept applications from interested unemployed.
New player in the Cypriot ethers
With up to three direct routes daily on the Athens – Larnaca route with the new state-of-the-art privately owned aircraft of the Airbus A320neo, SKY express expands its flight work, fully covering the needs and requirements of the passenger public. This action is an important support to the Cypriot economy and tourism, now that the country needs it more. The bet, of course, for the company is to embrace the Cypriot society, something that will depend, in addition to the course of dealing with the pandemic, and its pricing policy, as well as the range of services it will offer.
The pandemic and Louis
Louis plc recorded a very reduced turnover in 2020, as a result of the suspension of operations due to the spread of the coronavirus pandemic. According to an announcement by the group on the CSE, the company's turnover amounted to only € 17.3 million in 2020, compared to € 215.6 million in 2019. Also, the operating results of € 97 showed a negative deviation. , 8 million, with Louis plc recording a loss of € 28.9 million compared to a profit of € 68.9 million in 2019. The results from operations after net financing expenses showed a loss of € 69.5 million. against a profit of € 20.1 million in 2019, a negative deviation of € 89.6 million. The positive, however, for the company in this difficult time is that it recorded a profit of € 84 million from the sale of hotels in Greece – five in number – recording for 2020 a net profit of € 12.9 million compared to € 18.2 million in 2019.
When does Kotsovolos open?
In the second quarter of this year, according to reports in Greece, Kotsovolos – Dixons is preparing its debut in the Cypriot market. The company has launched in the first phase the opening of two stores, namely one store in Nicosia and one in Limassol, in places where they have already been selected.
As company executives stressed in Greek media, Kotsovolos – Dixons in the Cypriot market is preparing to show the best it has, both in terms of stores and products, as well as in terms of technology and support of its presence here, in order to respond as much as possible. best to the local consumer public especially in the midst of a pandemic.
The Alphamega online store
Alfamega Supermarkets are once again opening new avenues in the country's retail trade, which have set up an online store. It is the first supermarket chain in Cyprus to introduce this innovation, in an effort to meet the needs of consumers who for whatever reason do not have the opportunity or time to visit its stores for their shopping. The online store has already been launched and is available nationwide, offering a wide range of products, which will be constantly updated, exceeding ten thousand codes. The delivery of the products is done by a modern fulfillment center, with ten cars that were prepared especially for this purpose.
Real estate is like cucumbers
The attack of the month was said, according to the column, by the CEO of G&P Lazarou Petros Lazarou, who compared the prices of real estate with those of cucumbers. As he explained, speaking on the radio show Insider and the frequency of Active, such as cucumbers depending on the season and the place of sale you can buy them from € 0.30 to € 3 per kilo, the same goes for property prices. At the same time, he reiterated his optimism for the future of the Cypriot real estate market, sending a message in all directions that there is no property that can not be sold, given that there is the right price. The column tried for another week to enter the brains of famous personalities of the political, state and sports life of the place and presents to you what they wanted to say and did not say about the statements of Petros Lazaros.
Analytically:
Nikos Anastasiadis, President of the Republic of Cyprus: After the abolition of the KEP, I am very afraid that cucumbers will become more expensive than real estate, Mr. Socrates.
Averof Neophytou, president of DISY: If we do self-criticism, we will see that we all made the salad with the real estate and the cucumbers.
Andros Kyprianou, secretary general AKEL: I would like Mr. Lazarou to tell us where he found cucumbers at € 0.30 per kilo.
Nikolas Papadopoulos, president of DIKO: If the naturalization files are finally given to the general auditor, they will find real estate inside and not cucumbers, Mr. Socrates.
Marinos Sizopoulos, president of EDEK: I am more concerned with the fact that there is no property that can not be sold. Can you give me Mr. Lazaros' phone, please?
Marios Karoyan, president of DIPA: In Amargeti, due to the origin of Marinos Cleanthos, we have voters. We want a job in Chloraka, which is known for its cucumbers.
George Lillikas, president of the Citizens' Alliance: Mr. Lazarou, you can pre-sell the properties, but not the cucumbers.
Eleni Theocharous, President of Solidarity: Do not write me any clams for cucumbers, rejoice, Socrates.
Christos Christou, president of ELAM: We say no to imported cucumbers and to the sale of real estate to foreigners.
Charalambos Theopemptou, president of the Ecologists' Movement: Do you know how many fields with cucumbers were dismantled to develop real estate, Socrates?
Archbishop Chrysostomos II: If I can buy at € 0.30 and sell at € 3, I will also invest in cucumbers.
Prodromos Petridis, president of APOEL: If I catch the cup will you stop putting me in your column every week?
