GOLD MAGAZINE ISSUE 44

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Transcript of GOLD MAGAZINE ISSUE 44

  • Brought to you By

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    ISSUE 44 NOVEmbEr 14 - dEcEmbEr 13, 2014PrIcE 4.95

    POwErEd by:

    the international investment, finance & professional services magazine of cyprus

    LEADERSHIP excellenceThe recipients of the 2014 KEBE Business Leader Awards

    Christos MouskisChairman,

    uskita Hotels

    PhiDiAs PiLiDEsPresident,

    Cyprus Chamber of Commerce & Industry

    (Organiser)

    ANDrEAs DEMEtriouCountry Managing Partner,

    EY (Main Sponsor)

    Christos MAvrELLis Managing Partner,

    Chrysses Demetriades & Co LLC

  • LIFESTYLETouch the SkyMinthis HillsLuxury Resort

    PLUS MONEY / BUSINESSECONOMYTAX & LEGALLIFESTYLE / OPINION

    SHIPPINGThe Tide Is HighFleet Management celebrations

    INTERVIEWSGeorge PapanastasiouChristos TheocharidesAndrew Lumley-Holmes

    MICHALIS (ALKIS) H. HADJIKYRIACOS

    ANDREAS ELEFTHERIADESPresident,

    European University Cyprus

    PARIS PAPAELLINAS Managing Director,

    Costas Papaellinas Organisation

    CAPTAIN HEINRICH SCHOELLER

    12 PAGES ON

    THE AWARDS The Recipients

    The Event

    Executive Chairman and Managing Director,

    Alkis H.Hadjikyriacos(Frou-Frou Biscuits) Public Ltd

    Chairman,Columbia Shipmanagement

  • The CCCI and IMHthank the sponsors of the

    KEBE Business Leader Awards

    Main Sponsor

    Silver Sponsors

    Gold Sponsor

    Organisers

    Friday 31 October, 2014Evagoras Lanitis Centre (Carob Mill Complex), Limassol

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  • CHRISTOS MOUSKISChairman

    uskita HotelsBusiness Leader in the Tourism, Hospitality and Leisure Sector

    CAPTAIN HEINRICH SCHOELLERChairman

    Columbia ShipmanagementBusiness Leader

    in the Shipping Sector

    MICHALIS (ALKIS) H. HADJIKYRIACOSExecutive Chairman and Managing Director

    Alkis H.Hadjikyriacos(Frou-Frou Biscuits) Public Ltd

    Business Leader in the Manufacturing Sector

    PARIS PAPAELLINASManaging DirectorCostas Papaellinas

    OrganisationBusiness Leader in the Commercial Sector

    CHRISTOS MAVRELLISManaging Partner

    Chrysses Demetriades & Co LLCBusiness Leader in the Financial and Professional Services Sector

    ANDREAS ELEFTHERIADESPresident

    European University CyprusBusiness Leader

    in the Services Sector

    GEORGE PARASKEVAIDESEY Honorary Award:Overall Contribution to Entrepreneurship

    CONGRATULATIONSTO THE RECIPIENTSOF THE KEBE BUSINESSLEADER AWARDS

  • 6 Gold THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS

    30 | WORLD-CLASS SPEAKERS AT THE 5th LIMASSOL ECONOMIC FORUM This years gathering looks set to be the best Economic Forum so far, not least because of the presentation by Lord Dobbs of Wylye, better-known as Michael Dobbs, bestselling author of House of Cards.

    32 | SIZE MATTERS! It may be a small country but, when it comes to technology, Cyprus has a great deal going for it, says Christos Theocharides of AMS.

    36 | THE TIDE IS HIGH Fleet Management Limited has just celebrated its 20th anniversary.

    8 1016

    Issue 44November 14- December 13,

    2014EDITORIALUP FRONTFIVE MINUTES WITH

    72 | CARREFOUR TO THE RESCUE!Michalis Panayides, Commercial Director of Carrefour Cyprus, explains how the islands biggest retailer supports society through the bad times as well as the good.

    74 | AN ENGLISHMAN ABROADAndrew Lumley-Holmes, an international independent financial adviser, arrived in Cyprus in July, having spent the previous six and a half years living and working in Moscow and Hong Kong.

    80 | TOUCH THE SKY Taking shape in Paphos, Minthis Hills resort is set to elevate Cyprus island living to stratospherically lavish proportions.

    THE ECONOMIC POWER OF MIGRATION By Dr Savvas Savouri 78

    + OPINION

    86 {money}88 {business} 90 {economy} 92 {tax & legal}94 {lifestyle}

    32 72

    74

    FEATURES 39 | ADMINISTRATIVE SERVICE PROVIDERS

    SPECIALADVERTISING SUPPLEMENT

    18

    12 PAGES ON

    THE AWARDS

    The Recipients

    The Event

    80

  • EDITORIAL

    THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS

    BANKINGHow Spain

    restructuredits system

    BITCOINThe Future

    of the Digital Currency

    INTERVIEWSPeter Greenberg

    Matthew KiddAlexis Tsielepis

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    ISSUE 35 FEBRUARY 14 - MARCH 13, 2014PRICE 4.95

    POWERED BY:

    John Vickers,Chief Editor

    john@imhbusiness.com

    Follow the LeaderLeadership and learning are indispensable to each other.

    John F. Kennedy

    You may have had a feeling of dj vu on seeing this months cover photo. More awards? Well, yes, but these were somewhat different from other business awards that are handed out in Cyprus and elsewhere in that, for a change, they honour in-dividuals rather than companies and organisations. The goal of the KEBE Business

    Leader Awards, organised on 31 October by the Cyprus Chamber of Commerce & Industry (KEBE being its Greek acronym) and IMH, is to recognise individual leadership excellence in key sectors of the Cyprus economy. Few would question the choice of leaders selected to receive one of the seven inaugural awards (see pages 24-29 for more details) and the truth is that there is already no shortage of good candidates for the Business Leader Awards in the years to come. The countrys private sector could not thrive without good leaders but what of those who take on the role of leader in other areas? The political leaders, the party leaders, the spiri-tual leaders?

    Anyone with a basic knowledge of modern Cypriot history can tell you that great leader-ship has been conspicuous by its absence and some would simply point to the islands present circumstances as proof of the argument. This is to simplify things, of course, and is a disservice to the few exceptions to the rule you will be hard pushed today to find anyone who does not recognise the success of President George Vassilious term of office (1988-1993), even if he failed to secure a second five years but our experience of the last decade is enough to convince us that our leaders have, to a greater or lesser extent, failed us. Would we be able to find seven nominees for the Political Leader Awards? It is very unlikely, even if we were honour someone posthumously. And for every President of the Republic, there are countless wannabes, many of them in the House of Representatives who have really been showing their true colours recently and letting everyone see that their populism and self-interest knows no bounds: popu-lism in the way they were willing to jeopardise the disbursement of 350 million by passing bills which they knew were unacceptable to the Troika; self-interest in the way they raised a great fuss about the use of official cars by public officials and then passed legislation entitling only 29 officials to use an official car 24 hours a day and another 73 officials eligible to use one for official duties and, in any case, postponing the laws enforcement until 2016. Among those entitled to a free car are all past Speakers of the House and MPs are not likely to remove such a privilege from their party colleagues...

    US media figure Walter Cronkite once said: We are not educated well enough to perform the necessary act of intelligently selecting our leaders. At least this suggests that Cyprus is not the only place where that happens.

    Fortunately, business leaders are more plentiful here and many of them will be gathering in Limassol for the 5th Limassol Economic Forum on 28 November. Among the speakers is Lord Dobbs of Wylye, better to known to most of us as Michael Dobbs, the author of House of Cards, which has twice been filmed for television. Those who have read the trilogy or seen the BBC adaptation will know that there is a fascinating Cyprus connection with the third book The Final Cut, where Francis Urquhart champions a treaty resolving the Cyprus Problem while secretly working to bring offshore oil deposits under the control of the Turkish Cypriots so that a Turkish-British consortium will have the drilling rights. This was written 20 years ago! Dobbs is clearly a man with the vision required of a great leader. Lets give him citizenship at once!

    8 Gold THE INTERNATIONAL INVESTMENT, FINANCE & PROFESSIONAL SERVICES MAGAZINE OF CYPRUS

    MANAGING DIRECTOR George Michail

    GENERAL MANAGER Daphne Roditou Tang

    MEDIA MANAGERElena Leontiou

    EDITOR-IN-CHIEF John Vickers

    JOURNALISTSEffy Pafitis, Chloe Panayides

    CONTRIBUTORS TO THIS ISSUE Persella Ioannides, Dr. Savvas Savouri

    ART DIRECTION Anna Theodosiou

    SENIOR DESIGNERAlexia Petrou

    PHOTOGRAPHY Jo Michaelides

    MARKETING EXECUTIVE Kevi Chishios

    SALES & BUSINESS DEVELOPMENT EXECUTIVE

    Phivos KarayiannisADVERTISING EXECUTIVES

    Irene Georgiou, Christopher ConstantinouOPERATIONS MANAGER

    Voulla NicolaouSUBSCRIPTIONSMyria Neophytou

    PRINTERS Cassoulides Masterprinters

    CONTACT5 Aigaleo St., Strovolos 2057, Nicosia, Cyprus

    Mailing address: P.O.Box 21185, 1503, Nicosia, Cyprus

    Tel: +357 22505555, Fax: +357 22679820e-mail: gold@imhbusiness.com

    subscriptions: goldsubscriptions@imhbusiness.comwww.imhbusiness.com

    ISSN 1986 - 3543PUBLISHED BY IMH

    Subscribe today for just 90 and get an annual subscription to both Gold & IN Business Call us on (+357) 22505555

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    Cover Photography by Jo Michaelides

  • Cyprus-based instant messaging smartphone application Viber Inc. is repo