Cyprus Business Now

Revenues from tourism amounted to €1.46 billion in the period between January and November of 2021, a report by the Cyprus Statistical Service (Cystat) released on Friday revealed.

The revenue reported reflects an increase of 281 per cent year-on-year, however, it is 44.5 per cent lower than the respective period from 2019, the year before the pandemic hit.

Moreover, based on the results of a traveller survey conducted by the statistical service, revenues from tourism in November 2021 reached €104.2 million.

Revenue during the same month in 2020 amounted to €6.6 million, while it hit €95 million in November of 2019.

According to a report released on Friday by the Central Bank of Cyprus, the number of investment organisations reached new record levels in December of 2021, with 257, while their total assets soared to €8.74 billion.

The rise in total assets represents a year-on-year increase of 2.4 per cent.

In September of 2021, there was a total of 235 investment organisations, while their total assets stood at €8.53 billion.

Compared to December of 2020, the number of investment firms increased by 35 while their total assets rose by € 3.17 billion.

In terms of the types of investments organisations made, €3.03 billion were allocated to equity securities, €701.6 million to real estate properties, €1.3 billion to gross securities, €226.3 million to bonds and €3.47 billion to other securities.

Senvest Management LLC increased its share in the Bank of Cyprus (BOCH) to 6.01 per cent, according to a Friday announcement on the Cyprus Stock Exchange.

The Bank of Cyprus stated that the share of US Senvest increased by 1 per cent to 6.01 per cent. It had previously stood at 5.01 per cent.

Moreover, Senvest, through Senvest Master Fund, LP and Senvest Global (KY), LP also holds 5.07 per cent in Hellenic Bank.

The Cyprus Stock Exchange (CSE) ended Friday, February 18 with losses.

The main Cyprus Stock Market Index was at 70.73 points at 12:53 during the day, reflecting a drop of 0.2 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 42.49 points, which represents a decrease of 0.21 per cent.

The total value of transactions came up to €13,726.

In terms of the sub-indexes, the hotel and alternative indexes rose by 0.6 per cent and 0.13 per cent respectively.

The main index fell by 0.27 per cent, while the investment firm index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-0.92 per cent), Blue Island (+4 per cent), Logicom (no change), Salamis Tours (+0.52 per cent) and Demetra (no change).