Cyprus Business Now

In a bid to strengthen their existing partnership and foster collaboration in various areas of mutual interest, the Cyprus Shipping Chamber and the University of Cyprus recently signed a cooperation agreement.

According to an official announcement, the signing ceremony took place at the chamber’s offices in Limassol.

The agreement was officially signed by Themis Papadopoulos, the President of the Cyprus Shipping Chamber, and Tasos Christofides, the Rector of the University of Cyprus.

The announcement explained that this agreement aims to “facilitate the further enhancement of their already exceptional cooperation”.

Moreover, the agreement solidifies the collaboration between the two organisations in key areas, including practical learning experiences and orientation, maritime training and education, research and development, exchange of information and knowledge, and joint public relations activities.

What is more, both parties have committed to working together for the benefit of the University and the Cypriot maritime industry.

The cooperation agreement is expected to open new avenues for the exchange of expertise, resources, and innovative ideas.

It will also offer students at the University of Cyprus valuable opportunities to gain practical experience within the maritime sector and support the ongoing growth and development of Cyprus’ maritime industry.

In response to false and misleading information regarding the legal gambling market in Cyprus, the National Betting Authority issued a statement reaffirming the illegality of online casinos in the country.

The announcement highlighted the importance of consulting official sources and warns the public against engaging in illegal gambling activities.

The authority urged the public to stay informed and consider only legal betting options provided by licensed Class B companies, accessible through its official website www.nba.gov.cy.

In addition, it clarified that besides online casinos, other unlawful activities include internet-based games of chance like online slots and poker, virtual dog racing, cyber lotteries, betting exchanges, and spread betting.

The announcement continued by saying that only companies holding a Class A license from the authority are authorised to offer land-based betting services, such as Kino, Joker, and Propo, as well as authorised horse racing events, national lottery games, and casino gaming.

The statement also stressed that any form of mechanical, electrical, or device-based gaming that requires payment in cash or tokens to win prizes is strictly illegal, regardless of the type of game involved.

This includes slot machines, poker machines, bingo machines, and others. Additionally, unauthorised satellite casinos, dog races, card games, and betting on non-licensed platforms are all considered illegal.

To maintain transparency and aid the public in making informed decisions, the authority has published a list of blocked websites that lack the necessary licenses or offer illegal gambling services.

Finally, the authority said that it continues to monitor and enforce these regulations to ensure a safe and legal gambling environment in Cyprus.

The Cyprus Stock Exchange (CSE) ended Monday, August 7 with profits.

The general Cyprus Stock Market Index was at 121.45 points at 14:08 during the day, reflecting an increase of 1.51 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 73.54 points, representing a rise of 1.56 per cent.

The total value of transactions came up to €64,161.

In terms of the sub-indexes, the main, alternative and investment firm indexes rose by 2.11 per cent, 0.6 per cent and 0.88 per cent respectively. The hotel index fell by 1.79 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (+1.01 per cent ), Hellenic Bank (+1.03 per cent), Logicom (+8.33 per cent), Vassiliko Cement Works Public (+1.36 per cent), and Salamis Tours (+6.67 per cent).