Cyprus Business Now

Transport Minister Yiannis Karousos stressed that adequate air connectivity for all, especially for which air travel is particularly crucial, must be secured.

Karousos spoke at a high-level conference on the coronavirus pandemic hosted by the International Civil Aviation Organization (ICAO).

“The Republic of Cyprus as a small island state, relying mainly on air-transport for its connectivity with the outside world and as a result air transport plays a very important role in the island’s economic growth”, Karousos said during the conference.

“ICAO’s role will be most important in achieving a more common approach,” he added, explaining that though the aviation industry has already initiated a restart, its full recovery will be a gradual, long-term process.

The opening of the Neo Plaza shopping centre on the outskirts of Nicosia has been confirmed for Tuesday, October 19.

“With “All day destination for Fun, Food and Fashion” as its main theme, the Neo Plaza has been designed with respect to the Mediterranean extroversion of Cypriots,” a press release stated.

“The design and commercial concept, on the basis of which Neo Plaza has been built, expands the retail industry of Cyprus, while contributing decisively to its financial profile,” Neo Plaza General Manager Sotiris Sigalas said.

“On October 19, our commercial park opens with a maximum capacity of over 70 per cent, with this rising to 90 per cent by the beginning of November,” he added.

The Cyprus Stock Exchange (CSE) ended Wednesday, October 13, with losses.

The main Cyprus Stock Market Index was at 66.37 points by 13:58 during the day, reflecting a decrease of 0.48 per cent over the previous day.

The FTSE / CySE 20 Index was at 39.66 points, representing a drop of 0.348 per cent. The total value of transactions came up to €17,978.

In terms of sub-indexes, the main index fell by 0.57 per cent, the alternative index dropped by 0.09 per cent, while the hotel index fell by 1.06 per cent. Investment firms remained stable.

The biggest investment interest was attracted by Bank of Cyprus Holdings (-1.95 per cent), Hellenic Bank (no change), and Vassiliko Cement Works (€5,280 worth of trades, no change).