Cyprus Business Now

Hellenic Bank on Tuesday announced its decision to terminate negative interest rates on non-household Euro accounts, with effect from October 3, 2022.

From the aforementioned date, the interest rate on all non-household current, savings and notice accounts will be set at zero.

“The decision was taken in view of the changing market conditions and the recent European Central Bank (ECB) decision to raise the key ECB interest rates, ensuring the timely return of inflation to the ECB’s 2 per cent medium-term target,” the bank explained in a statement.

The number of job vacancies in the second quarter of 2022 increased by 3,716 or 50.2 per cent year-over-year, bringing the total vacancy rate to 2.7 per cent, according to a report released on Tuesday by the Cyprus Statistical Service (Cystat).

The number of job vacancies in the second quarter of 2022 rose to 11,113, up 3,716 from 7,397 in the same quarter a year earlier.

Compared to the first quarter of 2022, there was a decrease of 1,761 positions or 13.7 per cent quarter-on-quarter.

The overall vacancy rate in the second quarter of 2022 stood at 2.7 per cent. It had previously stood at 3.2 per cent during the previous quarter and 2.6 per cent in the corresponding quarter of 2021.

According to the report, the highest percentages of vacancies in the second quarter of 2022 were identified in the accommodation and catering Services with 7.2 per cent, as well as transport and storage with 4 per cent.

These were followed by the administrative and support activities sector with 3.8 per cent, as well as water supply, wastewater treatment, waste management and sanitation with 3.2 per cent.

The Cyprus Stock Exchange (CSE) ended Tuesday, September 13 with losses.

The general Cyprus Stock Market Index was at 74.42 points at 13:45 during the day, reflecting a drop of 0.07 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 44.65 points, which represents a decrease of 0.04 per cent.

The total value of transactions came up to €83,881.

In terms of the sub-indexes, the main, alternative, investment firm and hotel indexes all declined, falling by 0.37 per cent, 0.11 per cent, 2.09 per cent and 5.62 per cent respectively.

The biggest investment interest was attracted by the Bank of Cyprus (+1.12 per cent), Atlantic Insurance (-1.23 per cent), Logicom (+0.58 per cent), Petrolina (+0.94 per cent) and Hellenic Bank (-1.08 per cent).