FRIDAY, 19 OCT 2018

 

CONNECT

Facebook Linked In Twitter
CIFA_12/10-13/11_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Anastasiades’ Meeting with Akinci set for October 26

Lazarou: Cyprus on Track to Achieve Full Absorption of EU Funds

IMH LTD
INB_1000_Eng_03/08-15/11_468x60px

Cyprus CEOs Cyprus CEOs See Increase in their Revenues

 

PREVIOUS

NEXT

 
 
 
Cyprus CEOs See Increase in Their Revenues

Cyprus CEOs See Increase in Their Revenues

CEOs in Cyprus are more confidentabout their company’s prospects for revenue growth, according to the local findings of PwC’s 19th Annual Global CEO Survey titled “Redefining business success”.

Eighty business leaders of some of the largest organisations in Cyprusparticipated in the 5th consecutive local survey while the global survey sample consisted of a total of 1,409 CEOs in 83 countries. 

According to the local survey, even though CEOs in Cyprus share the concerns of their counterparts as regards the outlookof the global economy, the vast majority remain confidentabout their own company’s prospects for revenue growth over the next 12 months.

More specifically, 20% said they were very confident and 65% somewhatconfident, compared with 14% of the CEOs who said they are not confident. As regards the global economic growth, 49% of CEOs in Cyprus expect that it will remain the samewhile 19% anticipate that it will decline, in contrast to 33% who believe that it will improve over the next 12 months.

On a global level, CEOs are less optimistic about the future ofthe global economy compared to2015. The same applies to prospects for revenue growth, with just 35% saying they are very confident, as opposed to last year’s 39%. 

Another key factor is that 53% of Cyprus CEOs see opportunities for growth whereas CEOs globally with a percentage of 66% seemore threats than opportunities than 3 years ago.

When it comes to the threats, 76% of Cyprus CEOs are concerned about the geopolitical uncertaintyin the region, while 70% are equally concerned about the Eurozone debt crisis. The state’s response to fiscal deficit and debt burden is also a source of concern for 69% of participants in Cyprus, while an equal number of participants are concerned about the over-regulation affecting their field of activity. Furthermore, 65% of CEOs consider bribery and corruption a major threat to their companies’ future, when the corresponding figure inthe Eurozone is just 38%.

Commenting on the local survey findings, CEO of PwC, Evgenios Evgeniou said: “The confidence expressed by CEOs comes at a time ofpositive developments for the Cyprus economy, such as the return to growth, the upgrading of Cyprus’ credit ratings and the exit from the three-year bailout program, as well as the progress in doing business recorded in international reports. Even thoughthere is still a lot to be donethe survey findings affirm that our country is entering a new era. The aim of viable growth, both for the businesses that are the backbone of economic activity in Cyprus and the economy as a whole, is today more feasible and realistic than ever.”

The local findings of the 19th Annual Global CEO Survey were presented by Philippos Soseilos, Human Capital Partner, PwC Cyprus, at an event held on Tuesday, 8 March 2016. Taking part in the panel discussion that followed were John Patrick Hourican, Group Chief Executive Officer, Bank of Cyprus, Dr. Andreas Pittas, Executive Chairman, Medochemie Ltd and Constantinos Petrides, Under- Secretary to the President who has also given an extensive interview in the context of the survey.

The findings are available on the PwC website: www.pwcceosurvey.com.cy

 

FROM AROUND GOLDNEWS

   

China Grows at Slowest Pace since 2009

China has reported its slowest quarterly growth rate since the global financial crisis. The growth figure for the July to September quarter was 6.5% from a ...
   

Lazarou: Cyprus on Track to Achieve Full Absorption of EU Funds

Cyprus in on track to achieve full absorption of the EU funds earmarked for Cyprus in the programme period of 2014-2020, Lazaros Lazarou member of the EU Court ...
   

CBC: Residential Prices Index Rises for Eight Quarters but Prices Remain Moderate

The increase of residential property prices remains moderate the Central Bank of Cyprus (CBC) has said as the residential property price index in the second ...
   

Cryptos: The Future or the Next Bubble?

Cryptocurrencies have undoubtedly been the centre of attention in the markets since they were introduced. Considering the fact that everything is gradually ...
   

MAP S.Platis Awarded Contract for the Provision of Services to EASO

MAP S.Platis Group is delighted to announce the award of a Contract for the Provision of Interim Services to the European Asylum Seekers Office (EASO) in ...
   

Cobalt Air License Revoked, Company Recorded Annually €30m Losses in the Past Three Years

Cyprus’ Air Transport Licensing Authority (ATLA) decided to revoke Cobalt Air’s operating license, Alecos Michaelides, the Permanent Secretary of ...
   

Cyprus Airways Offers Free Tickets to Cobalt’s Passengers

Cyprus Airways expresses its sorrow for Cobalt’s suspension of operation and its support to everyone affected. Cyprus Airways, aiming to minimize ...
   

TUS Airways Supports Cobalt's Passengers Offering a 20% Discount

The Cyprus-based airline, TUS Airways: “Τhe Ultimate Schedule” will offer Cobalt's passengers, who already bought tickets, a 20% discount in ...

HEADLINES

MOST POPULAR

Vassos_Eliades_31/08-31/12_300x250px
Dale_Carnegie_LTM_300x250px

IMH LTD