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The Business Turnover Index in Cyprus displayed mixed trends across sectors in the third quarter of 2023 when compared to the corresponding period of the previous year, according to a report released this week by the state’s statistical service.

The index indicated a rise in three specific sectors: administrative and support activities by 19.2 per cent, accommodation and food service activities by 15.7 per cent, and professional, scientific, and technical activities by 2.8 per cent.

Conversely, a decline was observed in the information and communication sector, down by 8.9 per cent.

Examining the period from January to September 2023, compared to the same span in 2022, the turnover indices reflected increases in accommodation and food service activities by 19.7 per cent, and administrative and support activities by 16.9 per cent.

Moreover, professional, scientific, and technical activities grew by 5.1 per cent year-on-year, while information and communication services increased by 0.7 per cent, also year-on-year.

 

The National Bank of Greece (Cyprus) recently unveiled a range of time-deposit products, offering interest rates for periods of 6, 9, and 12 months, with rates climbing up to 3.25 per cent for the 12-month deposit.

In addition to these offerings, the bank presented its new deposit product named “ETHOPLUS GOLD” designed for new deposits, boasting an increasing or tiered interest rate every three months, reaching up to 4 per cent for an 18-month period.

It should be noted that the product requires a minimum deposit of €50,000, offering quarterly interest yields.

According to the bank’s press release, the average annualized yield for “ETHOPLUS GOLD” stands at 2.67 per cent, providing flexibility for regular income by crediting the earned interest every three months into an account of the depositor’s choice at the bank, without any additional conditions.

Furthermore, the product ensures a 100 per cent capital guarantee in the event of an early withdrawal.

The terms and conditions specified by the bank are applicable to all the aforementioned deposit products.

It’s important to note that the National Bank of Greece (Cyprus) Ltd’s deposit product series is covered by the Deposit Guarantee and Resolution of Credit and Other Institutions Scheme.

Under this scheme, deposits are protected by relevant legislation, providing security up to €100,000 per depositor per institution, ensuring a safeguard against financial risk.

 

The Cyprus Stock Exchange (CSE) ended Friday, December 1 with profits.

The general Cyprus Stock Market Index was at 132.54 points at 13:13 during the day, reflecting an increase of 0.08 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 80.43 points, representing a rise of 0.09 per cent.

The total value of transactions came up to €119,686 until the aforementioned time during trading.

In terms of the sub-indexes, the main, alternative and investment firm indexes rose by 0.09 per cent, 0.2 per cent and 0.71 per cent respectively. The hotel index remained unchanged.

The biggest investment interest was attracted by the Cyprus Cement Company (no change), Blue Island (-0.61 per cent), Logicom (no change), and the Bank of Cyprus (-1.26 per cent).

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