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Limassol port management company DP World Limassol on Monday said that as part of its active support towards the month-long Movember Cyprus campaign a number of its male employees have shaved off their beards, an act that seeks to raise awareness on issues pertaining to men’s health.

“DP World Limassol, in collaboration with P&O Maritime Cyprus, held a “shave-down” event at the Company’s premises at Limassol port on Thursday, 17 November 2022, to mark Movember Cyprus and Men’s Health Awareness Month,” the company said in a statement.

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“Movember Cyprus aims to raise awareness as well as encourage men all over the island to get tested and seek mental health support,” it added.

According to the statement, the Man Van, the roving barbershop of Movember Cyprus, complete with a professional barber, visited the company’s premises to offer employees a shave on the spot.

The company noted that many DP World Limassol employees embraced the event by shaving off their beards, while also purchasing merchandise and other items to support the campaign.

“Through this event, we want to contribute to the movement’s efforts to raise awareness about men’s health, suicide prevention and prostate and testicular cancer, and foster an environment that motivates men to take action when it comes to their health and well-being,” DP World Limassol human resource manager Marina Christofi said, noting that the employee’s health and well-being are the company’s highest priority.

“We believe that early prevention and intervention are essential in order to reduce the number of men that are dying prematurely every year,” she added, explaining that “as such we have been active supporters of Movember Cyprus for the last couple of years, making a significant contribution to the movement”.


The total number of investment organisations in Cyprus marked yet another increase in the third quarter of 2022, while the value of all assets recorded a decrease of 5.48 per cent quarter-on-quarter, according to the quarterly report published by the Central Bank of Cyprus (CBC).

According to the report, the number of investment firms in Cyprus increased to 284 from 274 at the end of June, marking an increase for the sixth consecutive quarter.

Conversely, their total assets fell to €8.23 billion compared to €8.7 billion during the previous quarter.

Compared to September 2021, the total assets of investment organisations marked a decrease of 3.61 per cent.

The Central Bank of Cyprus has revised its economic growth expectations for 2022 from 4 to 2 per cent

In more detail, deposits and loans belonging to investment institutions increased to €856.5 million in the third quarter of 2022, from €837 million in the previous quarter, while securities fell to €799.4 million, down from €831 million in the second quarter.

According to the central bank, the total value of shares and related securities of investment institutions fell to €6.06 billion in the third quarter of 2022, from €6.5 billion in the previous quarter.

In addition, non-financial assets, including fixed assets, increased to €316 million from €301 million in the previous quarter.

Other assets fell to €190 million at the end of September from €227 million at the end of June 2022.

In terms of liabilities, loans fell to €536 million in the third quarter, down from €617m in the previous quarter, while stocks and shares fell to €7.48 billion, down from €7.82 billion in the second quarter.

Finally, other liabilities belonging to investment organisations also marked a decrease, falling to €208 million at the end of September 2022 from €264 million in the previous quarter.


The Ministry of Finance’s Tax Department on Monday clarified that the Tax Commissioner is responsible for imposing and collecting a fee of 0.4 per cent for the purposes of the Central Agency of Equal Distribution of Burden.

In an announcement, the Tax Department stated that based on the Central Agency of Equal Distribution of Burden amendment (No. 2) Law of 2022 (N172(I)/2022), published on November 18 2022, in cases of transfer, under sale, of immovable property or of company shares, which is not listed on any recognised on the Cyprus Stock Exchange and which directly or indirectly owns the immovable property, a fee of 0.4 per cent shall be paid by the seller for the sale of immovable property, on the sale price and for the sale of company shares, on the last assessed value, by the Department of Cadastre and Land Surveying, of the immovable property, corresponding to the shares being sold.

The Tax Department reported that for the purposes of implementing the relevant legislation, it has taken all the necessary actions for the imposition and collection of this fee.

The statement added that for cases concerning the period between February 22, 2021, and November 18, 2022, the Tax Commissioner intends to grant a reasonable period of time to settle the relevant obligation without imposing interest or other monetary charges.

Finally, the Tax Department stated that a relevant announcement will be issued at a later date and urged the public not to rush to the department’s offices to settle the obligations arising within the above period.


The Cyprus Stock Exchange (CSE) ended Monday, November 21 with profits.

The general Cyprus Stock Market Index was at 77.49 points at 13:38 during the day, reflecting a rise of 0.12 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 46.49 points, which represents an increase of 0.11 per cent.

The total value of transactions came up to €64,274.

In terms of the sub-indexes, the main index rose by 0.12 per cent, while the alternative index fell by 0.22 per cent. The hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+0.98 per cent), Hellenic Bank (-0.97 per cent), Salamis Tours (-1.67 per cent), the Cyprus Cement Company (+0.92 per cent), and Demetra (no change).

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