Cyprus Business Now

The Cyprus Union of Bank Employees (ETYK) has renewed its collective agreement with card payments and processing company JCC until 2022.

The trade union explained that since the Bank of Cyprus is a major stakeholder in JCC, the collective agreements it has signed with both companies are nearly identical.

The union also stressed the importance of retaining the company’s contribution to the employee providence fund at 9 per cent.

“Given the difficulties that continue to exist, both in our sector but also in the economy and our country, this agreement is a major success for our organisation, as it safeguards the rights and work conditions for our colleagues,” the union said in a statement.

Intergo Telecom, a communications and internet services company based in Cyprus, has recently signed a partnership agreement with French multinational telecommunications company Orange SA.

As part of the agreement, Intergo Telecom will now be able to deliver text messages to more than 150 million Orange mobile phone subscribers across Europe and Africa, as well as to more than 500 million subscribers in countries in which Orange has a presence.

This ties in with one of Intergo Telecom’s core products, the text message-based marketing service called SMS.to.

The service facilitates bulk text messaging, automates shortlinking, enables GDPR compliance, as well as number verification, among other features.

The Cyprus Stock Exchange (CSE) ended Monday, November 8 with negligible profits.

The main Cyprus Stock Market Index was at 65.83 points by 13:35 during the day, reflecting an increase of 0.06 per cent over the previous day.

The FTSE / CySE 20 Index was at 39.33 points, representing a rise of 0.05 per cent. The total value of transactions came up to a relatively high of €140,929.

In terms of sub-indexes, the main index rose by 0.07 per cent, while the alternative index fell by 0.21 per cent. The hotel and investment firms indexes remained stable.

The biggest investment interest was attracted by Vassiliko Cement Works (€74,993 worth of trades, no change), Atlantic Insurance (+0.64 per cent), Petrolina (no change), and Bank of Cyprus Holdings (+0.2 per cent).