Cyprus Business Now

Debt management company Themis Portfolio Management this week announced the launch of a new initiative aimed at finding mutually acceptable solutions for vulnerable borrowers who have their primary residence valued up to €250,000.

According to the announcement, this initiative is an addition to the previous one for borrowers with their primary residence valued up to €350,000, which will be valid until the end of September.

The company explained that it is encouraging individuals belonging to vulnerable population groups, or those who meet the criteria set by the Ministerial Council on August 22, 2022, under the Renewable Energy Sources and Energy Efficiency Scheme, to contact Themis as soon as possible.

“This new initiative is yet another testament to Themis’ goodwill and dedication to finding mutually beneficial solutions,” the company said.

“This initiative, along with previous actions taken by the company, demonstrates its strong commitment to social responsibility and its intention to alleviate the financial burdens of vulnerable borrowers,” it added.

“Themis acknowledges the importance of supporting all those fellow citizens in need of assistance and understanding,” the company concluded.

The Ministry of Energy, Commerce, and Industry this week revealed its plans to provide financial support for businesses in the agricultural, industrial, and service sectors to participate in trade fairs held between January 1, 2023, and December 31, 2023.

As of July 31, interested businesses can submit their applications for financial assistance under the De minimis scheme.

The scheme includes three specific plans to facilitate private sector participation in trade fairs, both in Cyprus and abroad.

The first plan targets Cypriot businesses engaged in the processing or trading of industrial products, while the second plan caters to businesses involved in the processing or trading of agricultural products. The third plan aims to support Cypriot service providers.

Interested businesses can obtain the participation application, along with relevant informational material, from the Product Promotion Division of the Department of Commerce, as well as from the Ministry of Commerce’s website.

Applications submitted after September 8, 2023, will be considered as overdue and will not be taken into account for the financial assistance programme.

The initiative is geared towards fostering business growth and enhancing the presence of Cypriot companies in trade exhibitions, both locally and internationally.

Through this support, the ministry aims to bolster economic activity and strengthen the business landscape in Cyprus.

The Cyprus Stock Exchange (CSE) ended Wednesday, August 2 with profits.

The general Cyprus Stock Market Index was at 116.58 points at 13:21 during the day, reflecting an increase of 0.24 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 70.53 points, representing a rise of 0.24 per cent.

The total value of transactions came up to €177,515.

In terms of the sub-indexes, the main and investment firm indexes decreased by 0.14 per cent and 1.75 per cent respectively.

Conversely, the alternative index rose by 1 per cent, while the hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+0.72 per cent), Hellenic Bank (-0.53 per cent), LCP Holdings and Investments (+5.13 per cent), Demetra (-1.83 per cent), and KEO (-0.62 per cent).