26.08.2022
Deputy Minister of Shipping Vassilis Demetriades met on Thursday with the director of the Panama Seamen’s General Directorate, Capt. Juan Maltes, and Panamanian Ambassador Julia Liberopoulos to discuss a number of issues .
Among the points of discussion were issues of mutual interest between Cyprus and Panama.
In addition, excellent bilateral relations between the two countries were confirmed.
Cyprus and Panama also agreed to work together to effectively address the global challenges of shipping and the maritime industry.
According to IHS Markit statistics, Panama’s Register of Shipping closed the previous year with a total of 8,558 ships and a gross tonnage of 236 million tons, up 2.33% from last year.
Finally, in 2021, Panama’s registry registered 15% of the world’s fleet and generated about $87.3 million in revenue, up 34% from 2020.
Greek company Hellenic Dairies SA, through its subsidiary Olympus Foods Cyprus LTD, on Thursday announced an agreement to acquire 49 percent of Cypriot company Kouroushis Dairies.
The deal also includes an additional clause allowing the Greek company to subsequently increase its stake in Koroushis Dairies.
The company said the change in shareholding structure would come after the registration of halloumi as a Protected Designation of Origin (PDO) product, combined with the necessary changes to enable the production of Cypriot cheese.
“The agreement on strict adherence to European PDO rules provides for the immediate registration of all cheese factories in the control and certification system for the production of PDO halloumi,” the company said.
Kouroushis Dairies was founded in 1959 in Watili in the Famagusta region as a family business.
After the invasion of Cyprus in 1974, the company moved to Kofina in Larnaca.
The acquisition of the shares is awaiting approval from the Cyprus Competition Commission.
The Cyprus Stock Exchange (CSE) ended Thursday 25 August with a profit.
The overall Cypriot stock market index stood at 73.86 points at 13:06 during the day, reflecting an increase of 0.37% from the previous trading day.
The FTSE/CySE 20 index stood at 44.30 points, up 0.39%.
The total transaction value was 27,996 euros.
As for the sub-indices, the main and alternative indexes rose by 0.38% and 0.38%, respectively, while the hospitality and investment companies indices remained stable.
Bank of Cyprus (+0.39%), Vassiliko Cement Works (+0.77%), Logicom (-0.57%), KEO Plc (-2.22%) and Atlantic Insurance (+4%) attracted the highest investment interest .79%).
