Cyprus Business Now

The Cyprus University of Technology (Tepak) and the German embassy in Cyprus announced on Tuesday that the two discussed possible avenues of collaboration in areas of common interest.

The meeting was attended by the German ambassador to Cyprus Anke Schlimm and Tepak dean Panayiotis Zaphiris.

Zaphris noted that one of the strategic goals of the university is to expand and deepen its collaborations with other universities, at both regional and European levels, making special reference to the participation of Tepak in an alliance of eight universities from an equal number of European countries.

Schlimm said that her visit to the university aimed at finding ways to strengthen the cooperation between Tepak and the German Embassy, while referring to the opportunities for Cypriot students to go to Germany for studies, especially after Brexit.

Inflation in the eurozone will remain high, but will fall below the 2 per cent target for the next two years, the European Central Bank (ECB) said on Tuesday.

The ECB added that it is ready to intervene if inflation exceeds the medium-term target.

The possibility of intervention was mentioned by ECB Executive Board member Philip Lane.

Analysts estimate that the US Federal Reserve (Fed) will raise its key interest rates for the first time in March, while estimates speak of three to four increases in 2022.

“Looking at 2022, we believe that inflation will remain high at the beginning of this year, but will decline later this year, especially towards the end of the year,” Lane said.

The Cyprus Stock Exchange (CSE) ended Tuesday, January 25 with negligible profits.

The main Cyprus Stock Market Index was at 69.21 points at 13:16 during the day, reflecting a rise of 0.03 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 41.54 points, which represents an increase of 0.1 per cent.

The total value of transactions came up to a lowly €40,273.

In terms of the sub-indexes, the main index rose by 0.07 per cent, while the investment firm and alternative indexes fell by 2.49 per cent and 0.04 per cent respectively. The hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Amathus Public (no change), Keo Plc (no change), Logicom (+2.86 per cent) and Vassilico Cement Works (+0.73 per cent).