Cyprus Business Now

The total number of employees in the general public sector reached 72,432 in the second quarter of 2022, marking an increase of 1.8 per cent compared to the corresponding period of 2021, according to a report released this week by the Cyprus Statistical Service (Cystat).

According to the report, employment in the general government amounted to 66,787 people, while employees in companies and enterprises controlled by the government stood at 5,645 people.

In the general government, which consists of the government, non-profit organisations and local authorities, employment amounted to 53,691, 8,678 and 4,418 members of staff respectively.

Compared to the corresponding quarter of 2021, there was an increase of 1,111 people in the central government by 1,111 people, a rise of 1.8 per cent year-on-year.

In local authorities, there was an increase of 214 people, a rise of 5.1 per cent, while in companies and enterprises controlled by the government there were 29 fewer members of staff, a drop of 0.5 per cent.

Compared to the first quarter of 2022, employment in the broad public sector remained relatively stable.

There was a slight decrease of 0.2 per cent in terms of the number of staff working in the central government, a drop of 129 people.

Conversely, there was an increase of 2.4 per cent in local authorities, with 103 additional employees having been hired during this time.

The total stock capitalisation of the Cyprus Stock Exchange (CSE) grew by 8.4 per cent month-on-month in August, reaching €2.06 billion, according to the exchange’s monthly report released this week.

In addition, the total market capitalisation, which includes the Bond Market, reached €3.49 billion compared to € 3.37 billion during the previous month, marking an increase of 3.61 per cent.

The total value of transactions in August decreases slightly, falling to €4.19 million, with an average value of €0.19 million per trading session, compared with €4.46 million and a daily volume of €0.21 million. This is partially attributed to the expected slowdown in business activity that takes place during the month of August every year.

According to the report, the total value of shares traded during this period fell by 6.03 per cent month-on-month.

Neapolis University this week is hosting the 17th European Conference on Innovation and Entrepreneurship (ECIE 2022).

According to an announcement by the university, the conference will take place in a hybrid format on September 15 and 16.

“A large number of distinguished members of the global research and business community will participate and contribute to the ongoing and constructive international dialogue, offering a wonderful opportunity for an academic policy debate on innovation and entrepreneurship for the post-pandemic era and the current challenges,” the university said.

The European Conference on Innovation and Entrepreneurship has previously been held in Italy, Northern Ireland, France, Belgium, Portugal, and Finland, among other countries.

The conference is generally attended by participants from more than 40 countries and attracts a diverse combination of academic scholars, practitioners and individuals who are engaged in various aspects of innovation and entrepreneurship teaching and research.

The conference will also host the final round of The Innovation & Entrepreneurship Teaching Excellence Awards competition for the 8th consecutive year.

The Cyprus Stock Exchange (CSE) ended Wednesday, September 14 with losses.

The general Cyprus Stock Market Index was at 74.00 points at 13:55 during the day, reflecting a drop of 0.36 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 44.40 points, which represents a decrease of 0.36 per cent.

The total value of transactions came up to €90,295.

In terms of the sub-indexes, the main and alternative indexes fell by 47.66 per cent and 0.11 per cent respectively, while the hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-1.12 per cent), Hellenic Bank (no change), Logicom (no change), and Atlantic Insurance (-1.25 per cent).