Cyprus Business Now

The president of the Paphos Chamber of Commerce and Industry (Evep) George Mais this week emphasised the necessity of accelerating actions and efforts related to the digital transformation and other reforms in order to support the business community and enhance services provided to citizens.

Speaking to the Cyprus News Agency (CNA), Mais said that despite the efforts made thus far, “we are far from the desired levels”.

In this context, he urged the government to promptly take all required actions to propel Cyprus into the digital age.

Furthermore, he called on the government to immediately implement reforms and introduce new institutional regulations that would facilitate the relationship between the state and citizens and strengthen trust between them.

According to Mais, these changes will also benefit public finances by reducing the need for continuous recruitment of new personnel in the public sector and boosting economic growth rates, resulting in increased public revenues.

Mais concluded by explaining that “only through close and constructive cooperation among all of us, including the government, the parliament, productive sectors, and the trade union movement, can we address the problems and challenges effectively”.

In a mutually beneficial partnership, the Cyfield Group and the Cyprus University of Technology (Tepak) joined forces to provide valuable insights and opportunities to budding engineering talents, according to an announcement released on Tuesday.

The announcement stated that executives from the Cyfield Group visited the university’s Department of Civil Engineering earlier this month, marking the second consecutive year of this educational collaboration between the two parties.

The visit was coordinated under the guidance of Stelios Yiatros, Assistant Professor at the Department of Civil and Environmental Engineering and Geomatics at Tepak.

This initiative aimed to equip students in the final year of their studies with knowledge about the importance of cost measurement in construction projects and to prepare them for the demands of the job market they are soon to enter.

Andrianos Tzionis, Senior Officer of the Cyfield Group’s Tendering Department, kicked off the session by discussing practical examples and the latest trends in cost measurement within the construction industry.

In addition, Tzionis shed light on the significance of understanding cost intricacies in building projects.

Following this, Kyriakos Andreou, the Director of Human Resources at the Cyfield Group, engaged with the students, enlightening them about the primary qualifications sought by employers in the construction sector.

He elaborated, with the active participation of students, on the skills and knowledge necessary for emerging professionals to embark on a successful career path.

The interactive discussion raised essential questions concerning cost measurement in construction and the skills needed for students to transition into the job market.

What is more, students were told about various opportunities for employment and internship practices within the Cyfield Group.

Finally, the Cyfield Group emphasised its commitment to investing in the development and management of human resources within the company.

The Cyprus Stock Exchange (CSE) ended Tuesday, October 31 with losses.

The general Cyprus Stock Market Index was at 125.56 points at 12:09 during the day, reflecting a decrease of 0.32 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 76.08 points, representing a drop of 0.33 per cent.

The total value of transactions came up to €75,168.

In terms of the sub-indexes, the main, alternative and investment firm indexes fell by 0.47 per cent, 0.13 per cent and 1.07 per cent respectively. The hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (-0.35 per cent), Hellenic Bank (no change), Logicom (no change), and Interfund Investments (-9.57 per cent).