Cyprus Business Now

Limassol-based regulatory reporting firm Point Nine announced on Thursday that it has agreed to enter a partnership with regulatory specialists Kaizen Reporting.

Kaizen Reporting, a London-based firm, have previously combined expertise with technology to develop multi-award winning automated services for assurance, shareholding disclosure and a Single Rulebook digital platform.

Kaizen’s clients include many of the world’s largest banks, asset managers, hedge funds and brokers.

“We strive to provide a peace-of-mind trade and transaction reporting service to all market participants in the capital markets,” Point Nine CEO Andreas Roussos said.

“By combining our expertise with industry leaders like Kaizen Reporting, we enable existing and potential clients to benefit from their leading products and services as well as their regulatory expertise,” Roussos added.

Point Nine specialises in working with financial firms and institutions, service providers, and corporations, on both the buy and sell sides, with clients in several countries from around the world.

Moreover, the Cypriot company has processed and reported more than 7 billion transactions across all asset classes using their in-house, cutting-edge technology.

Finally, since October 2015, Point Nine has maintained a proven track record of 99.95 per cent submissions success in EU/UK transaction reporting.

Both production and prices in the construction sector increased in 2021, compared to 2020, according to a report released on Friday by the Cyprus Statistical Service.

According to the report, the Production Index in Construction during the fourth quarter of 2021 amounted to 209.58 points (based on 2015 = 100.0), recording a decrease of 5.5 per cent compared to the fourth quarter of 2020.

By type of project, there was a decrease of 5.1 per cent in buildings and 7.9 per cent in civil engineering projects in the fourth quarter of 2021, compared to the corresponding quarter of 2020.

For the period between January and December 2021, the total index increased by 3.4 per cent compared to the corresponding period of 2020.

The index for buildings increased by 2.5 per cent and the index for civil engineering projects by 9.7 per cent.

Moreover, the Producer Price Index in construction for the fourth quarter of 2021 amounted to 121.29 points (based on 2015 = 100.00), recording an increase of 3.9 per cent quarter-on-quarter.

Compared to the corresponding quarter last year, the index increased by 9.3 per cent.

By type of project, there was an increase of 9.4 per cent in buildings and 8.9 per cent in civil engineering projects in the fourth quarter of 2021, compared to the corresponding quarter of 2020.

For the period between January and December 2021, the total index increased by 5.2 per cent compared to the corresponding period of 2020.

The index for buildings increased by 6.4 per cent and 1.2 per cent for civil engineering projects.

The Cyprus Stock Exchange (CSE) ended Friday, April 8 with losses.

The main Cyprus Stock Market Index was at 67.13 points at 12:45 during the day, reflecting a drop of 0.3 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 40.34 points, which represents a decrease of 0.52 per cent.

The total value of transactions came up to €50,659.

In terms of the sub-indexes, the main and alternative indexes fell by 0.79 per cent and 0.22 per cent respectively.

The investment firm index also dropped by 3.78 per cent, while the hotel index remained stable.

The biggest investment interest was attracted by Petrolina (-0.87 per cent), the Bank of Cyprus (+0.21 per cent), Logicom (no change), KEO (-0.76 per cent), and Demetra Holdings (-4.06 per cent).