Cyprus Business Now

The general secretary of the labour union PEO Sotiroula Charalambous this week announced that the union will meet with the Labour Minister on Friday to have a discussion over the cost of living allowance (CoLA).

“There is no more time to wait,” Charalambous stressed.

The PEO general secretary made the statement during a tour of Paphos General Hospital and Polis Chrysochous Hospital on Monday, as part of the union’s May Day visits to workplaces and residential areas.

During the visit, Charalambous conveyed the message to workers that there are major unresolved issues, with the issue of CoLA being the most significant one.

“We expect that the minister will submit a proposal that is within the framework of what the transitional agreement provides for,” she stated.

The Insurance Media Lab on Tuesday announced that it is set to host an informative day on self-service, short-term rental accommodation unit insurance on Friday, April 28, 2023, in Limassol, Cyprus.

The workshop is the first event of its kind and aims to inform the owners and managers of such properties, which typically refer to Airbnb properties, about the types of insurance that are necessary in order to operate them.

The event will also feature presentations from professionals outside the insurance field who will give their opinions and offer important guidance to the participants for more successful management of their accommodations.

“The workshop comes at a time when the tourism sector is developing again after the difficult period of the pandemic,” the announcement stated.

Moreover, the event will take place at the Park Beach Hotel in Limassol, between 18:30 and 20:30.

The event is open to anyone interested in attending, and reservations can be made online.

However, the organisers have specified that places are limited, so interested parties are encouraged to reserve their spots as soon as possible.

“The series of insurance training days are designed to provide information to consumers and professionals about the various types of insurance that they can use according to their needs,” the announcement explained.

“The events aim to enhance the insurance knowledge of the people involved in this sector and contribute to the required strengthening of the insurance culture in society,” it added.

The announcement went on to say that the event is expected to provide valuable information to those involved in such properties and who are looking to better manage their properties and protect their investment.

“The Insurance Media Lab hopes that the event will be the first of many to come, providing valuable information to those who need it most,” the announcement concluded.

The Cabinet of Ministers this week announced that it has appointed Andreas Charitou, a Professor of Accounting and Finance at the University of Cyprus, as a non-executive member of the Board of Directors of the Central Bank of Cyprus (CBC).

This position was left vacant after the appointment of Makis Keraynos as Minister of Finance. According to an official announcement relayed by GTP, Charitou has also taught at the University of Toronto and Pennsylvania State University and held various positions at the University of Cyprus.

Moreover, he holds a BSc in Business Administration/Accounting from Athens University of Economics and Business and an MSc and PhD from Pennsylvania State University in the United States.

In addition, he is also a Certified Management Accountant and a member of the American Institute of Certified Public Accountants.

Charitou also holds a “Higher Education Teaching Certificate” from Harvard University and has been awarded for “Teaching Excellence” at both master’s degree (MBA) and bachelor’s levels from the University of Toronto.

The Cyprus Stock Exchange (CSE) ended Tuesday, April 25 with losses.

The general Cyprus Stock Market Index was at 107.71 points at 13:17 during the day, reflecting a decrease of 0.38 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 65.17 points, representing a drop of 0.37 per cent.

The total value of transactions came up to €100,495.

In terms of the sub-indexes, the main, alternative, investment firm and hotel indexes fell by 0.24 per cent, 0.69 per cent, 2.75 per cent and 0.09 per cent respectively.

The biggest investment interest was attracted by the Bank of Cyprus (-0.41 per cent), Vassiliko Cement Works Public Company (no change), Hellenic Bank (+0.28 per cent), Demetra Holdings (-2.86 per cent), and Logicom (+2.73 per cent).