Cyprus Business Now

The Federation of Environmental Organisations in Cyprus (Opok) has welcomed the launch of the government’s seven-year plan to help promote the circular economy in Cyprus, praising its use as both a reference point, as well as a defined framework of goals and objectives.

“The federation declares its readiness to contribute to the implementation of the actions required for the transition of Cyprus to a circular economy,” a press release said.

The federation’s press release also notes that the brief references in the plan regarding the challenges that Cyprus faces tend to ignore some of the most important systemic issues causing the low circular material use rate in Cyprus.

Finally, the federation stresses that the issue of municipal waste management is particularly pivotal and without its resolution, the implementation of the circular economy in Cyprus will ultimately fail.

The Ministry of Labour, Welfare, and Social Insurance confirmed that the new Ergani information system has been operational since September 13.

The new system allows employers to electronically register with the social insurance service.

Employers can also register their employees using the system.

The ministry notes that applications should be submitted no later than one day before the applicant becomes an employer.

Moreover, the employer should deploy the system to maintain a recruitment register, which must contain the personal data of each employee.

This data includes employee number, name, national ID number, social security number, date of recruitment and date of commencement of employment.

The Cyprus Stock Exchange (CSE) ended Monday, October 18, with profits.

The main Cyprus Stock Market Index was at 66.08 points by 12:58 during the day, reflecting an increase of 0.05 per cent over the previous day.

The FTSE / CySE 20 Index was at 39.47 points, representing a rise of 0.05 per cent. The total value of transactions came up to €17,782.

In terms of sub-indexes, the alternative index rose by 0.11 per cent. The main, hotels and investment firms indexes remained stable.

The biggest investment interest was attracted by Vassiliko Cement Works (€9,178 worth of trades, +0.76 per cent), Bank of Cyprus Holdings (€4,976 worth of trades, no change), Atlantic Insurance (-0.64 per cent) and Salamis Tours (no change).