30.08.2022
CarVal, a recognized global manager of alternative investments, on Monday increased its stake in Bank of Cyprus to 9.07%, up from a previous percentage of 8.57%, through the purchase of 1.4 million shares.
CarVal primarily invests in distressed and credit-intensive assets, as well as in markets where it identifies inefficiencies.
The company has been in business since 1987 and has invested $138 billion in 5,655 deals in 82 countries.
Today, AB CarVal manages approximately $16 billion in corporate securities, loan portfolios, structured loans and hard assets.
The Department of Transportation on Monday announced that it has entered into an agreement with telecommunications company Cablenet allowing it to host its traffic monitoring and management platform.
The contract, which is valid from 26 August 2022 for five years, costs 300,000 euros and is financed from public resources.
According to the report, the contract provides for the supply of cloud infrastructure, the development of a telecommunications network to connect approximately 120 existing motion sensors, as well as 26 video surveillance cameras and 4 electronic scoreboards.
In addition, new equipment will be connected, which will be procured from the Recovery and Resilience Fund, as well as 40 electronic information boards, 170 traffic surveillance cameras and 180 sensors.
According to the ministry, the agreement is the “most modern and cost-effective solution” to the requirements of the platform’s operation, and the installation and interconnection of the systems is expected to provide full coverage and digitization of the country’s major metropolitan and metropolitan areas . mezhgorodskaya road network.
“Thanks to this platform, we will achieve better management of transport networks by responsible authorities and rapid response to incidents,” the ministry said.
“In addition, it will facilitate the provision of information to network users and individuals for the development of navigation applications, as well as the provision of data to research or university institutions for research and development purposes,” he added.
The Cyprus Stock Exchange (CSE) ended Monday, August 29, with losses.
The overall Cypriot stock market index stood at 72.90 points at 13:17 during the day, reflecting a 0.60% drop from the previous trading day.
The FTSE/CySE 20 Index stood at 43.71 points, down 0.61%.
The total transaction value was 17,676 euros.
As for the sub-indices, the main and alternative indices declined by 0.64% and 0.15%, respectively, while the hospitality and investment companies indices remained stable.
Bank of Cyprus (-1.95%), Hellenic Bank (no change), Petrolina (-0.91%), Demetra Holdings (no change) and Louis Plc (no change) attracted the largest investment interest.
