Cyprus Business Now

President of the Cyprus Ports Authority Antonis Stylianou this week underlined the impact of green transition processes within ports, describing the authority’s actions as exemplary practices.

This discussion took place within the framework of efforts towards decarbonisation, digitisation, and digital transformation during a seminar in Athens.

According to a statement released by the authority, Stylianou participated in a seminar held in Athens on Thursday, focusing on green energy in ports as part of the European project, dubbed ‘SEANERGY – General Fuels and Energy in Ports’, and the Network of Sustainable Islands.

During the event, Stylianou commended the initiation of the SEANERGY project, funded by the European Union, underscoring the importance of forging collaborations among port authorities, stakeholders, and other entities at a regional level.

Furthermore, he praised the pivotal role played by local communities, particularly in ports located within urban areas.

In this context, he stressed the significance of collaboration between these communities, relevant authorities, academic institutions, and businesses, something which will allow them to realise the objectives of the green transition.

Finally, the announcement noted that the seminar saw the participation of stakeholders from Greece, Croatia, and countries bordering the Black Sea, showcasing the multi-national interest and collaboration surrounding green initiatives within port infrastructures.

Trade unions Sek and Peo this week called for the Minister of Labour to intervene following a raft of employee layoffs at the City of Dreams Mediterranean casino resort.

The two unions described this as a case of “worker exploitation and instrumentalisation” in their joint statement, expressing concerns over the working conditions resembling “medieval times” and stating that the island has become an “international embarrassment”.

Citing a torrent of complaints from both terminated and currently employed individuals facing uncertain conditions, the unions emphasised the absence of labour union protection, leaving workers vulnerable and unprotected.

They also addressed concerns about forced resignations and emphasised the negative impact this has had on all employees.

Additionally, they expressed solidarity with the dismissed employees and pledged assistance while intensifying efforts to secure union freedoms for workers, “aiming for an environment free from intimidation and false dilemmas”.

Finally, encouraging unity and ongoing efforts to improve working conditions, the two unions highlighted that “the only shield of protection is organising within the framework of a union”.

The Cyprus Stock Exchange (CSE) ended Friday, November 24 with profits.

The general Cyprus Stock Market Index was at 130.28 points at 12:26 during the day, reflecting an increase of 0.12 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 79.09 points, representing a rise of 0.14 per cent.

The total value of transactions came up to €163,899.

In terms of the sub-indexes, the main and hotel indexes fell by 0.01 per cent and 1.59 per cent respectively. The alternative index rose by 0.59 per cent while the investment firm index increased by 0.71 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Hellenic Bank (no change), Petrolina Holdings (no change), Pandora (+3.73 per cent), and Vassiliko Cement Works Public Company (+1.32 per cent).