Cyprus Business Now

Turnover in Cyprus’ retail trade sector rose during February 2022, both in terms of value and volume, according to a report released on Monday by the Cyprus Statistical Service (Cystat).

According to the report, the Retail Trade Cycle Value Index increased by 13.9 per cent in February 2023, compared to the corresponding month of the previous year.

In addition, during the same month, the Retail Trade Cycle Volume Index increased by 7.3 per cent, compared to the corresponding month of the previous year.

Finally, for the first two months of 2023, the Retail Trade Turnover Value Index has recorded an increase of 13.7 per cent while the Turnover Index has experienced a rise of 6.8 per cent.

The Paphos regional board of tourism (Etap) announced that it has recently participated in a number of promotional workshops and events across numerous cities in Poland.

The events, took place in Warsaw, Sopot, Poznan, and Wroclaw, between March 27-30, and aimed to promote Paphos as a year-round destination.

According to an announcement, the events in question were an initiative of the Deputy Ministry of Tourism and seek to inform commercial partners on various topics concerning Paphos tourism. More than 160 tourism agents have attended the events.

The board also noted that arrivals from the Polish market have increased significantly in recent years.

In 2019, arrivals from Poland reached 80,000, while in 2022 they exceeded 186,000, marking an increase of 135 per cent.

Limassol mayor Nicos Nicolaides, and the members of the municipal council, recently awarded Anna Gubareva, the founder of City Friends Club (CFC), a non-profit organization that has introduced and supports efficient waste-collection infrastructure, in recognition of her outstanding contribution to the community.

According to an announcement, the Limassol Municipal Council unanimously decided to present Anna Gubareva with the official emblem of the city, the Lion of the Ancient Amathus.

Anna Gubareva founded CFC in 2020, with the aim of contributing to the elimination of waste in the city. Since then, the organisation has grown to include hundreds of volunteers and tens of supporters.

“I am pleased to present our emblem to Anna Gubareva and City Friends Club for their commitment and contribution to keeping our city clean,” Nicolaides said.

“Their work is an inspiration to all of us, and we are grateful for their dedication and commitment to our community,” the Limassol mayor added.

The announcement went on to say that “City Friends Club is a group of like-minded people who believe that living in a clean city should be a basic human right”.

“I am honoured to receive this award on behalf of everyone at the Club which I thank for their hard work to achieve our goals. I would also like to thank my husband Alexey Gubarev, for his continuous support of our efforts,” Gubareva said.

“Our mission is to make Limassol a cleaner, healthier, and more beautiful place to live, but also to promote conscious consumption and sustainable lifestyle,” she added.

The award ceremony took place at Limassol City Hall on March 30, 2023, and was attended by local officials, community leaders, members of the public and the team members of CFC.

“CFC strives to make an impact on the city, focusing on specific areas such as street cleaning, proper disposal of bulky waste, and targeted projects that aim to transform Cyprus into a conscious community against waste,” the organisation explained.

More information about City Friends Club can be found here.

The Cyprus Stock Exchange (CSE) ended Monday, April 3 with profits.

The general Cyprus Stock Market Index was at 106.94 points at 14:07 during the day, reflecting an increase of 1.09 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 64.64 points, representing a rise of 1.11 per cent.

The total value of transactions came up to €103,983.

In terms of the sub-indexes, the main and alternative indexes rose by 1.28 per cent and 0.25 per cent respectively, while the hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+1.15 per cent), Vassiliko Cement Works Public Company (+0.75 per cent), Hellenic Bank (+3.16 per cent), the Cyprus Cement Company (+0.81 per cent), and Louis PLC (-1.16 per cent).