Cyprus Business Now

Hellenic Bank reiterated its support towards businesses operating in the energy industry, with particular emphasis given to organisations involved with the production of renewable energy.

“Last year, we supported Renewable Energy production projects through loans totalling €101 million, financing one of the most important wind farms in Cyprus, along with many other similar green energy projects,” Hellenic Bank’s Chief Banking Officer Phivos Stasopoulos said at the ninth iteration of the Energy Symposium event.

The event, held at the Journalists’ House in Nicosia on November 4 and supported by Hellenic Bank, explored Cyprus’ current energy outlook and future.

This involved addressing current challenges; facilitating an exchange of ideas, proposals and practices from other countries; and an examination of how Cyprus can improve the sustainability of its energy model.

“At Hellenic Bank we accept our responsibility towards the environment and society and will continue to play a leading role in the further development of the Cypriot economy, providing tangible and comprehensive support to private entrepreneurship,” Stasopoulos added.

Vehicle registrations fell by 6 per cent year-on-year during the first ten months of 2021, a report by the Cyprus Statistical Service (Cystat) has shown.

The number of total vehicle registrations went from 32,277 during the first ten months of 2020 to 30,345 vehicle registrations during the corresponding period of time in 2021.

Conversely, the registration of mopeds and motorbikes rose sharply during the same time.

According to the report, a total of 2,646 motor vehicles were registered during October 2021, reflecting a 16.6 per cent drop year-on-year.

The registration of passenger saloon cars alone fell by 21.1 per cent, with 2,005 registrations being recorded during October.

In terms of the period between January and October, passenger saloon cars suffered a fall of 6.6 per cent year-on-year, falling to 23,341 vehicle registrations from last year’s figure of 24,987.

Notably, 40.2 per cent of these were new vehicles, with the remaining 59.8 per cent of registrations involving previously owned vehicles.

Meanwhile, the number of coaches and buses registered between January and October of this year fell to 48 vehicles, 232 vehicles down from last year’s figure during the same time.

The Cyprus Stock Exchange (CSE) ended Tuesday, November 9 with losses.

The main Cyprus Stock Market Index was at 65.84 points by 13:17 during the day, reflecting a drop of 0.12 per cent over the previous day.

The FTSE / CySE 20 Index was at 39.34 points, representing a decrease of 0.1 per cent. The total value of transactions came up to €106,333.

In terms of sub-indexes, the main index fell by 0.42 per cent, while the alternative and investment firm indexes rose by 0.48 and 0.42 per cent respectively. The hotel index remained stable.

The biggest investment interest was attracted by Vassiliko Cement Works (no change), Bank of Cyprus Holdings (-0.4 per cent), Hellenic Bank (-0.24 per cent), Pandora (+0.97 per cent) and KEO Plc (+2.22 per cent).