Cyprus Business Now

The CEO of DP World Limassol, Nawaf Abdulla, took part in a panel discussion as part of DP World Group’s CARGOES Digital Trade Flow event, held on the side-lines of Dubai Expo 2020 at DP World Pavilion.

During the conference, the CARGOES team of DP World presented the Group’s new digital logistics solution, which includes instant online cargo booking, efficient movement, as well as advanced tracking from origin to destination.

During the panel discussion held as part of the event, entitled ‘Technological Advancements in Ports and Terminals and their Solutions’, the DP World Limassol CEO explained that Limassol will be the first terminal within the group to upgrade its Terminal Operating System (TOS) to the latest version of Zodiac General Cargo (GC) and Container Terminal (CT) – a system that is entirely based on cloud computing modules.

According to the company, the new TOS will improve the terminal’s transparency and reporting standards, as it will be able to produce advanced operational reports and Key Performance Indicators (KPI).

The reports will also be used to review the port’s operational performance with regard to the real-time exchange of data and information.

Cypriot businesses and employers, through the Cyprus Chamber of Commerce and Industry and the Cyprus Employers & Industrialists Federation (OEB), expressed their disapproval for a remote working mandate, citing a number of reasons for their lack of favour for such a measure.

The reasons mentioned by the CCCI and OEB include a detrimental effect on the economy, complaints expressed by both employees and citizens, as well as a lack of certainty on how beneficial remote working is in terms of containing the virus.

In addition, according to an interview in Cypriot outlet InBusiness, both the Chamber of Commerce and the OEB said that either a partial or complete lockdown is out of the question since such as measure would signify bad news for the economy.

The tax department has issued a reminder that the annual tax return deadline for the self-employed ends on November 30.

“Employees, pensioners and the self-employed, whose gross total income for the year 2020 is greater than 19,500 euros, have the obligation to submit an Individual Income Statement for 2020,” the tax department said.

The tax department added that additional information can be found on its website.

The Cyprus Stock Exchange (CSE) ended Thursday, November 25 with marginal losses.

The main Cyprus Stock Market Index was at 67.74 points by 13:52 during the day, reflecting a drop of 0.13 per cent over the previous day.

The FTSE / CySE 20 Index was at 40.23 points, representing a decrease of 0.12 per cent. The total value of transactions came up to €133,574.

In terms of sub-indexes, the main and alternative indexes fell by 0.24 per cent and 0.02 per cent respectively, while the hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by Vassiliko Cement Works (no change), Bank of Cyprus Holdings (no change), Cyprus Cement Company (-1.94 per cent), Hellenic Bank (no change) and Pandora (+2.78 per cent).