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The Cyprus Integrity Forum (CIF), an independent, non-profit and non-governmental organisation, signed on November 15 a memorandum of understanding with fellow non-profit organisation Oxygono.

The CIF, which was launched in 2010 and officially registered a year later, states that its aim is to help fight corruption and promote transparency.

Oxygono, established in 2014, explains that its objectives include the improvement of the quality of public debate in Cyprus, pushing for reforms and the modernisation of the country, as well as to improve the quality of life in a number of areas and fields.

“The memorandum aims to cultivate cooperative relations between the Cyprus Integrity Forum (CIF) and Oxygono,” a press release said.

“The multilevel and multifaceted cooperation covers areas related to the organising of joint educational events, activities to combat corruption, as well as joint actions aimed at achieving positive political pressure, raising public awareness and cultivating parliamentary transparency,” the press release added.

 

The Limassol Chamber of Commerce and Industry has asked for the establishment of a commercial court to speed up the resolution of legal proceedings, according to a press release published earlier this month.

Such a court deals with legal cases of a commercial nature, including contract disputes, disputes over the sale of goods, as well as disputes over the sale of services, among others.

“With our country being rated very low internationally in terms of settling trade disputes, a situation which, among other things, complicates our position as an investment destination, the establishment of a commercial court for cases over €2 million must happen immediately,” the chamber said.

“Regarding the establishment of this court, there has long been a political decision stating, among other things, that it will be based in Limassol, where the majority of large companies, local and international, are situated,” the chamber added.

 

The Cyprus Stock Exchange (CSE) ended Monday, November 22 with profits.

The main Cyprus Stock Market Index was at 67.73 points by 12:40 during the day, reflecting an increase of 0.31 per cent over the previous day.

The FTSE / CySE 20 Index was at 40.50 points, representing an increase of 0.32 per cent. The total value of transactions came up to €26,018.67.

In terms of sub-indexes, the main, hotel and alternative indexes rose by 0.26 per cent, 0.31 per cent and 0.47 per cent respectively.

Meanwhile, the investment firm index fell by 0.95 per cent.

The biggest investment interest was attracted by Hellenic Bank (+1.22 per cent), Cyprus Cement Company (+1.92 per cent), Pandora (+5.8 per cent), Bank of Cyprus (no change) and KEO PLC (no change).

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