Cyprus Business Now

Cyprus’ transport and storage sector experienced a robust annual growth of nearly 10 per cent during the third quarter of 2023, according to a report released this week by the Cyprus Statistical Service (Cystat).

The report highlighted that the Business Turnover Index for Transport and Storage reached 162.8 units, with 2015 having been designated as the base year, marking a significant surge of 9.7 per cent compared to the same quarter in 2022.

Examining the figures against the corresponding period of the previous year, all specific economic activities within the sector exhibited growth.

Ground transport rose by 11.4 per cent, air transport along with storage and auxiliary transport activities increased by 10.9 per cent, maritime transport saw a rise of 1.3 per cent, and postal and courier activities witnessed a modest growth of 0.3 per cent.

Expanding its growth trajectory further, from January to September 2023, the Business Turnover Index in the Transport and Storage sector recorded a substantial increase of 18.0 per cent compared to the same period in 2022, as per the Statistical Service’s data.

The Cyprus Real Estate Agents Registration Council hosted a dinner for licensed real estate agents, facilitating discussions on various issues concerning the real estate profession and the property sector in Cyprus.

According to an announcement released by the council this week, the event was held at a Limassol restaurant on Friday, November 20. The dinner was hosted by the president and members of the administrative board of the Real Estate Agents Registration Council.

Among the attendees were House President Annita Demetriou, the Director-General of the Ministry of Interior, Elikkos Elia, and Kyrenia District Officer Antonis Oikonomides, all invited by the council.

The event provided a platform for an exchange of views on a range of topics pertinent to the real estate profession and the property sector in Cyprus.

Marinos Kineyirou, President of the Real Estate Agents Registration Council, noted that “our licensed real estate agent members were given the opportunity to meet, get acquainted with each other, and engage in discussions on matters of common interest”.

“We at the Real Estate Agents Registration Council emphasise the importance of good communication, which at times can evolve into collaboration among licensed real estate agents,” Kineyirou said.

“We believe it’s another element contributing to the health of our profession,” he concluded.

The Cyprus Stock Exchange (CSE) ended Wednesday, November 22 with profits.

The general Cyprus Stock Market Index was at 129.93 points at 12:29 during the day, reflecting an increase of 0.15 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 78.89 points, representing a rise of 0.15 per cent.

The total value of transactions came up to €68,381.

In terms of the sub-indexes, the main and investment firm indexes rose by 0.42 per cent and 2.14 per cent respectively. The alternative index fell by 0.29 per cent while the hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Hellenic Bank (no change), Petrolina Holdings (no change), Demetra Holdings (+2.24 per cent), and K+G Complex (+1.8 per cent).