Cyprus Business Now

The East Mediterranean Gas Forum (EMGF) this week announced that it has decided to approve the proposal of the Cypriot Presidency of the forum for the creation of a Scientific and Technical Advisory Committee.

Specifically, the new Scientific and Technical Advisory Committee, “which will constitute a permanent advisory body under the supervision of the EMGF”, will provide the necessary scientific and technical expertise to the member countries, drawing knowledge from academic institutions and other specialized bodies, primarily on decarbonising the energy sector and mitigating the effects of climate change, the statement said.

The proposal of Cyprus is a continuation of the initiative of the President of the Republic on climate matters, as presented last November at the 27th United Nations Conference on Climate Change (COP 27), in Egypt.

It is noted that during the work of the 8th Ministerial Meeting of the EMGF, “the last one held in the framework of the Cyprus Presidency of the Forum for 2022”, its budget for 2023 was also approved.

The meeting also approved the special report prepared for the implementation of the ambitious goal of gas decarbonisation of the Eastern Mediterranean, as well as the results of the study on the role that the region’s gas can play in the rapidly evolving markets of Europe and internationally.

At the same time, it is reported, EMGF activities for 2022 were generally reviewed, including the Forum’s participation in major international events and conferences on energy issues.

Total motor vehicle registrations in Cyprus reached 2,522 in November 2022, up 7.2 per cent from 2,353 in November 2021, according to data released by the Statistics Office on Thursday.

Passenger saloon car registrations rose 7.6 per cent to 1,857, from 1,726 in November 2021.

November saw a sharp increase in new vehicle registrations, up 18.1 per cent on November 2021, with 1,357 new vehicles up from 1,149 last year.

Conversely, used vehicle registrations fell 3.2 per cent, falling from 1,204 in November 2021 to 1,165 in November 2022.

In the period between January and November 2022, the total number of registered vehicles decreased by 3.4 per cent compared to the corresponding period of 2021, reaching 31,584, compared to 32,698 in 2021.

Moreover, passenger saloon car registrations fell by 0.7 per cent to 24,902, compared to 25,067 in the same period in 2021.

Of the total passenger saloon cars, 10,837 vehicles, a share of 43.5 per cent, were new, while 14,065 vehicles, a share of 56.5 per cent, were used cars.

Finally, rental cars experienced a rise of 69.2 per cent during this time, with 3,888 registrations.

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

The general Cyprus Stock Market Index was at 88.45 points at 13:21 during the day, reflecting a rise of 0.28 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 53.26 points, representing an increase of 0.28 per cent.

The total value of transactions came up to €15,354.

In terms of the sub-indexes, the main and investment firm indexes rose by 0.73 per cent and 2.77 per cent respectively. The alternative index fell by 0.71 per cent, while the hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+0.29 per cent), Hellenic Bank (+0.37 per cent), KEO (-6.08 per cent), Demetra Holdings (+2.95 per cent), and Louis (+7.09 per cent).