Cyprus Business Now

The Cyprus Ministry of Agriculture, Rural Development, and Environment is implementing various initiatives to support beekeeping, aiming to improve the general conditions and trade of hive products, according to Minister Petros Xenophontos.

In his address at the Honey Festival, which started on Sunday in Larnaca’s Ora village, Xenophontos said that “May 20, every year, following a proposal by Slovenian Beekeepers, has been declared by the UN as ‘World Bee Day’ to raise awareness among the public about the importance of bees and other pollinators in the environment and culture and to promote actions for their protection”.

“The importance of beekeeping is well-known, both in the production of high-value products such as honey, pollen, royal jelly, beeswax, and propolis, and in providing primary or supplementary income to a large number of families in Cyprus,” he added.

Moreover, the minister said that special mention should be made of the involvement of young people in beekeeping, as more than 25 per cent of beekeepers are under 40 years old.

He further noted that recognising the significance of bees in Cyprus, in addition to various actions taken to protect them, the Ministry of Agriculture is implementing initiatives to support beekeeping through EU and national development programmes.

“The main tool in this effort is the EU co-funded Apiculture Programme, where various actions are supported to improve general production conditions and trade of hive products, with an annual budget of €340,000,” the minister said.

According to Xenophontos, among these actions, which he said are “the spearhead of the ministry’s efforts,” are the training of beekeepers, hive renewal, protection of bees from danger, as well as raising awareness among the general public, especially young children, about the importance of bees.

Labour Minister Yiannis Panayiotou, representing the President of the Republic, addressed the 28th General Assembly of the Federation of Associations of Building Contractors in Cyprus.

He emphasised the construction industry’s vital role in the country’s economy, societal cohesion, and the green and digital transition.

Panayiotou further discussed the interconnection between the construction sector and the quality of citizens’ daily lives, as well as the safety of public and private infrastructure.

He stressed the importance of the construction industry for achieving the goals of the green and digital transition, combined with the need for specialisation and certification of workers, who can contribute to the Cypriot core of the national economy, according to government policy.

Furthermore, Panayiotou announced that a professional qualification for builders will be one of the eight official professional qualifications promoted by the Ministry of Labour within the framework of the European Year of Skills.

“We consider specialisation and certification necessary to ensure a workforce with the attributes we desire,” he said.

The Cyprus Stock Exchange (CSE) ended Tuesday, May 23 with losses.

The general Cyprus Stock Market Index was at 108.40 points at 12:50 during the day, reflecting a decrease of 0.61 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 65.56 points, representing a drop of 0.62 per cent.

The total value of transactions came up to €9,958.

In terms of the sub-indexes, the main index fell by 0.64 per cent, while the alternative, hotel and investment firm indexes rose by 0.06 per cent, 0.52 per cent and 3.46 per cent respectively.

The biggest investment interest was attracted by the Bank of Cyprus (-1.55 per cent), Demetra Holdings (+3.66 per cent), Mitsides (+2.56 per cent), Louis PLC (-3.01 per cent), and Leptos Calypso Hotels (+5.45 per cent).