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Employment in the Cyprus government witnessed an increase of 283 individuals (0.5 per cent) in October 2023, compared to the same month in 2022, reaching a total of 53,554 people, according to a report released on Monday by the Cyprus Statistical Service (Cystat).

Permanent staff observed a decrease of 702 individuals (-2.7 per cent), from 25,555 to 24,853.

Conversely, there was an increase in temporary staff by 2,557 individuals (13.3 per cent), reaching 21,837 compared to 19,280 in October 2022.

This surge is primarily attributed to the growth in the temporary staff of the Education Service, mainly due to the abolition of the service procurement regime in the support programs of the Ministry of Education, Culture, Sports, and Youth for the academic year 2023–2024.

Reductions were noted in all categories of permanent staff, while an increase was observed in all categories of temporary staff.

The most significant change was in the temporary staff of the Education Service, showing a 24.2 per cent increase.

Hourly Paid Personnel experienced a decrease (18.6 per cent), mainly due to the transfer of Hourly Paid Personnel from the Ministry of Health to the Organisation of State Health Services, included in the Broad Public Sector, starting January 2023.

Compared to September 2023, the most significant change was observed in the temporary staff of the Education Service, with an increase of 23.0 per cent.

Finally, employment in other personnel categories remained close to the levels of September 2023.


Forbes Cyprus recently announced the latest additions to the distinguished lineup of speakers for The Future of Fintech Summit, a premier global offline event powered by payabl. on December 7-8.

“This summit promises to be a gathering of some of the brightest minds and innovators in the fintech industry, providing a unique platform for thought leadership, networking, and collaboration,” the announcement said.

Moreover, the announcement noted that the summit will feature talks and discussions from industry leaders, visionaries, and disruptors who have shaped the landscape of finance and technology.

These speakers bring a wealth of knowledge and experience, offering insights into the latest trends, challenges, and opportunities in the ever-evolving world of fintech.

Confirmed speakers include:
  • Georg Hauer, fintech advisor, board member and investor, former General Manager at N26
  • Sarah Finegan, the investor at Antler, co-host of the podcast series “At the Cap Table”
  • Uri Poliavich, CEO of Soft2Bet, with over 13 years of complex industry experience
  • Umang Sota, the Head of Product at with a decade of experience driving innovation in Fintech
  • Andreas Vlachos, the Growth Manager in Greece and Cyprus at Binance
  • Pedro Batista, a Fintech Chief Executive Officer with ​​10+ years of experience working for Fortune 500 banking firms 
  • Mila Khrapchenko, Co-CEO and Co-founder of Ameetee
  • Taner Akcok, the Head of API Banking at Deutsche Bank and an advisor at Boston Consulting Group Digital Ventures
  • Alexander Konovalov, Co-founder & Co-CEO of vidby, Ukrainian-born serial tech entrepreneur
  • Beny Rubinstein, advisor, strategy & innovation – Israeli Ecosystem Development 
  • Simone Paul Tamussin, VP of Global Product Management & Development at Mastercard
  • Ugnė Buračienė, Group CEO at payabl., Country Ambassador for Cyprus at European Women Payments Network
  • Alejandro Repetto, an Argentine future thinker, technology entrepreneur, consultant, and professor
  • David Gyori, CEO at Banking Reports, top 10 global thought leader in fintech
  • Alex Mifsud, Co-founder and CEO of WEAVR.IO with 15+ years of experience
  • Meaghan Johnson, a researcher with 10+ years in the digital banking space, Fintech contributor at Forbes
  • Ben Goldin, an expert in digital banking and fintech with over two decades of experience, founder and CEO of PLUMERY

The organisers further explained that as a special incentive for early attendees, Forbes Cyprus is offering a 15 per cent Early Bird Discount on all tickets purchased before November 30, 2023. Interested parties can use the promo code NOV15 during checkout.

To learn more about the event, visit the official summit website:


The Cyprus Stock Exchange (CSE) ended Monday, November 13 with losses.

The general Cyprus Stock Market Index was at 126.19 points at 12:55 during the day, reflecting a decrease of 0.44 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 76.54 points, representing a drop of 0.49 per cent.

The total value of transactions came up to €120,123.

In terms of the sub-indexes, the main and investment firm indexes fell by 0.95 per cent and 2.29 per cent respectively. The hotel index remained unchanged while the alternative index rose by 0.14 per cent.

The biggest investment interest was attracted by the Vassiliko Cement Works Public Company (-2.1 per cent), Logicom (-2.82 per cent), Demetra (-2.38 per cent), and the Bank of Cyprus (+0.34 per cent).

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