Cyprus Business Now

The Cyprus edition of 0100 Conferences will make its presence felt at the upcoming Reflect Festival in Limassol later this month.

0100 Conferences Cyprus will allow people to network with senior fund managers, investors, leading service providers, as well as other noteworthy attendees at the festival.

The company seeks to bring capital to the region, contribute to its developing technology and startup ecosystem, and make the island more attractive to international funds.

“We are very excited to be joining the 0100Conference in Cyprus and to be further meeting prominent startups on the island,” Managing Partner at Eleven Ventures and one of the conference’s speakers Daniel Tomov said.

“Cyprus has several great success stories so far, with many more in the making,” he added.

“The startup ecosystem is ripe and definitely on our radar as an investor supporting founders in Southeast Europe,” Tomov concluded.

According to the Cyprus Statistical Service (Cystat), unemployed people registered at their local district offices reached 11,324 at the end of September.

Based on seasonally adjusted data showing the unemployment trend, the number of registered unemployed for September 2021 decreased to 15,907 people. That number stood at 18,282 in the previous month.

In terms of the previous year, a decrease of 19,394 persons or 63,1 per cent was recorded from September 2020.

This is primarily attributed to the accommodation and food service sectors (a decrease of 6,115 people), trade (a decrease of 3,520 people), manufacturing (a decrease of 1,156 people), transportation and storage (a decrease of 996 people), financial and insurance activities (a decrease of 912 people), as well as to 998 people registered as newcomers in the labour market.

President Anastasiades delivered a statement on account of trade union Sek’s 29th annual conference this week, with the statement being read at the conference by finance minister Constantinos Petrides.

“It is true that the employment market suffered a temporary downturn due to the Covid-19 pandemic and the health and safety measures that we had to implement,” the president wrote in his statement.

“The conditions brought upon by the pandemic temporarily halted five years of progress in the job market, where 72,118 new jobs were created between 2015 and 2019, a rise of 20.9 per cent,” he added.

Meanwhile, Sek general secretary Andreas Matsas devoted part of his speech at the conference to praise the creation and implementation of the national health service (Gesy).

“The union expresses its complete and strict devotion to Gesy, stressing that this achievement is here to stay,” Matsas said.

“We now call upon all public bodies to safeguard it,” Matsas added.

Matsas also spoke about the Cyprus problem and the need for unity.

“We as Sek, along with friends at Turk-Sen (The Federation of Turkish Cypriot Trade Unions) and other trade unions, have expressed the need for a unified approach in matters concerning workers, the economy, society and social security,” Matsas said.

The Cyprus Stock Exchange (CSE) ended Wednesday, October 6, with losses.

The main Cyprus Stock Market Index was at 66.70 points by 12:50 during the day, reflecting a decrease of 0.39 per cent over the previous day.

The FTSE / CySE 20 Index was at 39.86 points, representing a drop of 0.40 per cent. The total value of transactions came up to €10,549.47.

In terms of sub-indexes, investment firms and hotels remained stable, while the main and alternative indexes fell by 0.35 per cent and 0.22 per cent respectively.

The biggest investment interest was attracted by Vassiliko Cement Works Ltd (€2,680 worth of trades, no change), KEO (€1,450 worth of trades, no change), CCC Tourist Enterprises (€1,370 worth of trades, no change) and Bank of Cyprus (-1.44 per cent).