Cyprus Business Now

The bank employees union Etyk this week announced that it has reached an agreement with the Association of Cyprus Banks for the renewal of their collective agreement.

Etyk said that negotiations took place in a climate of mutual respect and understanding, with discussion having taken all other collective agreements that have been signed recently.

“The outcome of the negotiations was positive, since we reached an agreement with the administration of the Cyprus Banks Association for the renewal of the collective agreement for the staff of the association for the years 2019 – 2022, which was signed on Tuesday,” Etyk said.

“The content of the agreement, which is similar to the content of the corresponding agreements signed by our organisation with banks in our space, is very satisfactory and balanced and leaves both sides satisfied,” it added.

There was a 4.9 per cent decrease in the total number of registered vehicles between January and August 2022, compared to the corresponding period in 2021, according to a report released this week by the Cyprus Statistical Service (Cystat).

However, in August alone, vehicle registrations increased by 8.1 per cent.

In August 2022, total motor vehicle registrations reached 2,484, an increase of 8.1 per cent compared to 2,298 in August 2021.

According to the report, passenger saloon car registrations rose by 12.4 per cent to 2,018 from 1,796 in August 2021.

Regarding vehicle registrations in the period January-August 2022, compared to the corresponding period in 2021, the total number of registered vehicles decreased by 4.9 per cent, falling to 23,169, compared to 24,372 in the same period of 2021.

Registrations of passenger saloon cars decreased by 1.8 per cent and reached 18,445, compared to 18,775 in the corresponding period of 2021.

Of the total passenger saloon cars, 7,884 or 42.7 per cent were new and 10,561 or 57.3 per cent were used cars. Rental cars saw a 78.4 per cent increase to 3,135.

The Cyprus Stock Exchange (CSE) ended Thursday, September 8 with profits.

The general Cyprus Stock Market Index was at 73.54 points at 13:53 during the day, reflecting a rise of 0.49 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 44.11 points, which represents an increase of 0.50 per cent.

The total value of transactions came up to €69,741.

In terms of the sub-indexes, the main index rose by 0.79 per cent, while the alternative index fell by 0.04 per cent. The hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+0.78 per cent), Hellenic Bank (+1.79 per cent), and Salamis Tours (-0.5 per cent).