George Michaelides, the mastermind behind the aggressive promotion of Louis cruises around the world, has left after 16 years of service at the biggest tourist enterprise in Cyprus. His responsibilities as Group Marketing Director – Cruising, will be absorbed by the Sales and Marketing department presently headed by George Stathopoulos in Greece. Michaelides had previously

Vassiliko Cement Works Pcl (VCW) reported a strong set of first half results with net profit increasing by 21.1% YoY to CYP 4.09 mln on the back of higher sales and better cost controls. The main driver of profitability was the satisfactory growth in total sales from cement and clinker sales in 1H06, mainly driven

A. Zorbas & Sons Pcl (ZRP) recorded a decline in first half 2006 profit on the back of higher costs for raw materials, labour and energy costs. Net profit fell 24.4% YoY to CYP 906.000 with EPS at 5.92 cent from 7.84 cent a year ago in the same period. Total turnover was up 12.4%

Muskita Aluminium Industries Pcl (MAI) reported a strong increase in first half 2006 profit as major investments in state-of-the-art production facilities helped lift profit by 24.6% YoY on the back of higher sales and costs remaining under control. Total turnover was up 18.7% YoY to CYP 17.2 mln from CYP 14.4 mln a year ago

Data on building permits released by the Statistical Service CYSTAT indicate that the overall construction sector is buoyant, although there are sharp differences depending on the area. The total number of building permits authorised in May reached 832, a rise of 21.9% compared with May 2005. The value of permits rose by 29.4% to CYP