Cyprus Business Now

Cypriot company Tototheo Maritime on Tuesday announced that co-CEO Despina Panagiotou Theodosiou, co-CEO Sokratis Theodosiou, Chief Operations Officer Natalia Bury Loyal, and Head of Business Development Antonis Maniatis attended the annual “SATELLITE 2023” Conference and Exhibition, which took place from March 13-16 at the Walter E. Washington convention centre in the United States.

The event, which attracts over 12,500 delegates from more than 300 companies and 120 countries, provided an opportunity for the Tototheo Maritime team to learn about the latest developments and innovations in the satellite and space community.

In addition, as part of the conference, attendees from various industries such as shipping, aviation, automotive, financial services, telecommunications, as well as government and military services, among others, had the opportunity to exchange know-how and strengthen relationships with companies and organisations in the area where they operate.

Considered one of the most important global business meetings and an innovation platform for satellite and space technology, the “SATELLITE” Conference and Exhibition has been attended over the years by entrepreneurs such as Jeff Bezos, Richard Branson, and Elon Musk who presented innovations from Blue Origin, Falcon 9, Virgin Galactic, and Starlink, respectively.

It is commonplace for executives from Silicon Valley’s technology giants to reveal their latest technologies at the event.

Tototheo Maritime, headquartered in Limassol, with offices in Greece and Germany, is a leading provider of communication services and maritime technology.

Specialising in innovative, efficient, and functional solutions in the fields of digitalisation, satellite and radio communication, automation, and navigation systems, the company announced the addition of the new broadband internet access service via satellite Starlink, developed and offered by SpaceX, to its service portfolio just last January.

“Attending the “SATELLITE 2023” Conference and Exhibition provides an opportunity for Tototheo Maritime to further cement its position as a leading player in the satellite and space technology industry,” the company said in a statement.

The construction materials price index in Cyprus experienced an increase of 10.73 per cent year-on-year in February 2023, reaching 136.10 units, with 2015 being the base year referenced, according to a report released this week by the Cyprus Statistical Service (Cystat).

In terms of each main product category, increases were recorded in minerals by 26.23 per cent, mineral products by 15.69 per cent, and wood, insulating, chemical and plastic products by 9.87 per cent.

In addition, electromechanical items increased by 7.85 per cent, while metal products experienced a rise of 3.97 per cent.

Finally, compared to January 2023, the construction materials price index recorded a slight increase of 0.06 per cent.

The Cyprus Stock Exchange (CSE) ended Tuesday, March 21 with profits.

The general Cyprus Stock Market Index was at 103.91 points at 12:51 during the day, reflecting an increase of 2.45 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 62.79 points, representing a rise of 2.50 per cent.

The total value of transactions came up to €92,859.

In terms of the sub-indexes, the main, alternative, and investment firm indexes all rose, increasing by 2.98 per cent, 0.4 per cent and 2.75 per cent respectively.

Conversely, the hotel index fell by 0.38 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (+3.39 per cent), Hellenic Bank (+5.23 per cent), Petrolina Holdings (+0.88 per cent), Blue Island (no change), and Demetra Holdings (+2.88 per cent).