Cyprus Business Now

Cypriot company Point Nine on Tuesday announced that it has been selected as one of the 50 best companies to watch in 2022 by The Silicon Review, one of the world’s leading publications for business and technology professionals.

“At a time when Cyprus is dynamically positioning itself on the world map as one of the fastest-growing destinations for companies specialising in the field of technology, research and innovation, Cypriot company Point Nine comes to confirm and support this fact,” the company said in a statement.

This is the second consecutive year that Point Nine was selected to be featured in the aforementioned list The Silicon Review.

The publication noted that Point Nine continued to be deemed as a successful company worth following, while at the same time highlighting the company’s successful operational model as a particular point of reference.

The Cypriot company has to deal with a very demanding and specialised field, combining financial matters with technology, with the core of their operations concerning the preparation of regulatory compliance reports that are used for transactions.

Moreover, from 2015 to date, Point Nine has collaborated and reported on more than 7 billion transactions on behalf of more than 100 organisations.

As compliance regulations become more stringent, the process becomes more intricate and thus demands greater funds and human resources to be allocated to it.

“It is with particular excitement that for another year our company is on this list together with other renowned companies in a very demanding and constantly changing sector,” Point Nine CEO Andreas Roussos,” said.

“For a company like Point Nine, with customers all over the world, it is a development that strengthens their trust in us and ranks us as a reliable service provider,” he added.

“At the operational level, we continue to develop our products and services that must meet the ever-increasing needs of our customers in order to comply with the Regulations and Compliance Directives around the world, including European directives (EMIR, MiFIR, SFTR), ASIC in Australia, MAS in Singapore, and FinfraG in Switzerland,” Roussos concluded.

The Transportation and Storage Turnover Index reached 130.6 points (base 2015=100) in the second quarter of 2022, according to data published this week by the Cyprus Statistical Service (Cystat).

This represents an increase of 47.9 per cent when compared to the corresponding quarter of 2021.

Based on each economic activity category, compared to the same quarter of the previous year, increases were recorded in air transport by 425.1 per cent, water transport by 48.4 per cent, land transport by 47.3 per cent, as well as in storage and transportation support activities by 36.6 per cent.

In addition, postal and courier activities recorded a decrease of 3.9 per cent.

During the January-June 2022 period, the Transportation and Warehousing Turnover Index recorded an increase of 44.6 per cent compared to the corresponding period of 2021.

The Cyprus Stock Exchange (CSE) ended Tuesday, August 23 with losses.

The general Cyprus Stock Market Index was at 72.83 points at 13:10 during the day, reflecting a drop of 0.44 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 43.69 points, which represents a decrease of 0.43 per cent.

The total value of transactions came up to €84,379.

In terms of the sub-indexes, the main and alternative indexes fell by 0.38 per cent and 0.21 per cent respectively, while the hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-1.6 per cent), Hellenic Bank (+0.43 per cent), KEO Plc (-2.17 per cent), Logicom (+0.57 per cent) and Vassiliko Cement Works (no change).