03.08.2022
The Gloria Jean’s Coffee franchise in Cyprus will now be owned by a new owner and Lanitis Entertainment will be the new owner.
This marks the end of CC Coffee Company’s 16-year ownership of the coffee shop chain in Cyprus.
The change in ownership came after an agreement was signed between Amathus Leisure and Lanitis Entertainment to acquire CC Coffee Company, the entity that owned eleven Gloria Jean’s stores in Cyprus.
The deal also includes four Cremoso Gelato Artigianale ice cream shops, as well as a manufacturing unit that produces ice cream.
According to a report from the Statistical Office of Cyprus (Cystat), retail trade values increased in June, while volume activity was more subdued, reflecting the price spikes seen in the aftermath of the war in Ukraine.
The retail trade value index for June 2022 increased by 20.1% year on year, and the retail trade volume index for the same month increased by 9.3% year on year.
In addition, for the period from January to June 2022, the value index is estimated to have increased by 14.4% year on year.
The physical volume index increased by 4.6% compared to the same period in 2021.
In terms of economic activity, computers and telecommunications equipment, curtains, carpets, books, stationery, sports equipment, toys, flowers, plants, watches and jewelry posted the highest annual value growth, up 32.4 percent year on year.
This is followed by the retail sale of automotive fuel with 31.3%, as well as food, beverages and tobacco products with 22.1%.
Retail sales excluding automotive fuel rose 18.8% year-on-year in June.
According to data released this week by the Central Bank of Cyprus (CBC), the debt of households and non-financial corporations at the end of the first quarter of 2022 amounted to 56.2 billion euros.
Household debt in the first quarter of 2022 amounted to 20.2 billion euros, which corresponds to 84% of Cyprus’ GDP.
This represents a slight decline from the previous quarter, primarily due to GDP growth.
Compared to December 2016, the ratio of household debt to GDP decreased by 32%.
Non-financial corporate debt stood at €36 billion at the end of the first quarter of 2022, with a debt-to-GDP ratio of 150%, reflecting a slight quarterly decline, mainly driven by GDP growth.
Compared to December 2016, the ratio of corporate debt to GDP has significantly decreased by 62%.
Household financial assets at the end of March 2022 amounted to 58.8 billion euros, of which 61% are foreign currency deposits and loans, 2% are bonds, 20% are stocks and 17% are other financial assets.
Financial assets held by non-financial corporations amounted to €66.6 billion , of which 49% were equities, 29% other financial assets, 17% foreign exchange and deposits, 4% loans and 1% bonds. .
The financial assets of insurance companies in the first quarter of 2022 amounted to 4.2 billion euros.
Finally, the financial assets of investment funds and pension funds amounted to 8.6 billion euros and 3.9 billion euros, respectively.
The Cyprus Stock Exchange (CSE) ended Tuesday 2 August with a profit.
The overall Cypriot stock market index stood at 68.99 points at 13:24 during the day, reflecting an increase of 0.25% from the previous trading day.
The FTSE/CySE 20 index stood at 41.32 points, up 0.24%.
The total transaction value was 53,319 euros.
As for the sub-indices, the main and alternative indices rose by 0.28% and 0.03%, respectively, while the hospitality and investment companies indices remained stable.
Blue Island (+2.44%), Bank of Cyprus (no change), Salamis Tours (no change), Logicom (no change) and Louis (no change) attracted the highest investment interest.
