In a letter to Minister of Labour and Social Security of Cyprus Zeta Emilianidou, the Cyprus Chamber Of Commerce and Industry has voiced its disapproval for a remote working mandate.

“The implementation of teleworking in the European Union is regulated by the European Framework Agreement on Teleworking, which was concluded between the European Social Partners in 2002 and aims to establish a general institutional framework for teleworking at European level, which helps to encourage and develop teleworking in a way that goes hand in hand with flexibility and job security,” the CCCI said in its letter.

The chamber explained that as a member of the European Association of Craft, Small and Medium-sized Enterprises, and one of the partners who cosigned the above agreement, honours the agreement.

The agreement stipulates that for remote working to be implemented, the consent of both parties is required, referring to both the employer and the employee.

“Therefore, the CCCI disagrees with the implementation of teleworking through legislation and is of the opinion that the social partners in Cyprus should examine the provisions of the European agreement, in order to find those elements that can be applied in Cyprus,” the chamber concluded.


The Cyprus Land and Building Developers Association announced this month that Michalis Hadjipanayiotou has been reelected as the association’s chairman.

Hadjipanayiotou, who is the Chief Executive Officer of Cybarco Development Ltd, also served as chairman in the two years prior to the last election.

In the new board’s first annual meeting, which took place on November 30, Hadjipanayiotou thanked the association’s members for reelecting him and outlined a number of reforms necessary for both the construction sector and the economy to grow.

“The new board will continue to cooperate with the state, but also with other partners in the field of land development so that Cyprus becomes an attractive, modern investment destination,” Hadjipanayiotou said.


The Cyprus Stock Exchange (CSE) ended Tuesday, December 7 with losses.

The main Cyprus Stock Market Index was at 66.34 points at 12:48 during the day, reflecting a drop of 0.2 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 39.72 points, which represents a 0.2 per cent decrease.

The total value of transactions came up to €114,433.

In terms of sub-indexes, the hotel index remained stable, while the main index, alternative index and investment firm index fell by 0.31 per cent, 0.08 per cent and 0.98 per cent respectively.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Demetra (-1.08 per cent), Pandora (-3.675 per cent), KEO (no change) and Alkis H. Hadjikyriacos (no change).