Cyprus Business Now

In a statement to the Cyprus News Agency (CNA), Marios Tsiakkis, the General Secretary of the Cyprus Chamber of Commerce and Industry (Keve), voiced dissent against the Minister of Labour’s assertions regarding the existence of unemployed Cypriots or EU workers who should be given priority in hiring by Cypriot businesses.

Tsiakkis countered these statements, highlighting that the claims made by the minister did not align with the current reality.

He emphasised that for years Keve has been highlighting the severe shortage of human resources, something which has been verified to be true, according to Tsiakkis.

The scarcity, according to Tsiakkis, was exacerbated post-Covid-19 when many foreign and EU workers left Cyprus and did not return due to the working conditions that kept them in their countries.

He added that the Cypriot economy has been expanding over the past two years, resulting in increased demand.

Tsiakkis urged the minister to review the internal procedures within the ministry for employing third-country nationals and to liberalise this process, as he claimed, “the workers referred to by the minister do not exist.”

He mentioned specific sectors like retail, hotels, catering, and recycling, especially non-specialized positions, where shortages are pressing.

He further stated that the chamber receives daily complaints and concerns from its members struggling to find personnel to support their work.

Moreover, Tsiakkis stressed that the preference of Cypriot businesses is to employ Cypriots and called upon any Cypriots seeking employment to reach out to them or to the enterprises, ensuring they would be hired.

“The shortages are critical, and consequently, we need to proceed with hiring from third countries in order to cover the pressing needs of businesses,” he concluded.

Melco Cyprus, the operator of the City of Dreams Mediterranean casino resort, announced this week that it has gifted Christmas presents to local children, noting that this is a reflection of its commitment to giving back to the community.

In an event held at City of Dreams Mediterranean on Tuesday, company staff donated presents to Hope for Children, as part of its efforts to leave no child without a present.

Marlon Hirsh, Vice President, Hotel and F&B, said giving back to the community was a key component of the company’s philosophy, which has a long history of supporting charitable causes and making a positive impact.

“Our colleagues’ contributions will help make more children smile this Christmas,” he said.

“We are grateful for their support in making a difference in the lives of those in need,” Hirsh added.

Hope For Children is an International Humanitarian and Independent Organisation dedicated to improving the lives of vulnerable children around the world.

Its mission is to provide support, protection, and opportunities for children facing poverty, abuse, neglect, and other challenging circumstances.

Hope For Children also works towards empowering local communities and advocating for children’s rights, aiming to create a brighter future for all children.

The Cyprus Stock Exchange (CSE) ended Friday, December 22 with losses.

The general Cyprus Stock Market Index was at 136.43 points at 13:12 during the day, reflecting a decrease of 0.23 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 82.81 points, representing a drop of 0.23 per cent.

The total value of transactions came up to €20,716 until the aforementioned time during trading.

In terms of the sub-indexes, the main and investment firm indexes fell by 0.37 per cent and 1.38 per cent respectively. The alternative index rose by 0.04 per cent while the hotel index remained unchanged.

The biggest investment interest was attracted by Hellenic Bank (no change), Atlantic Insurance (+0.58 per cent), the Bank of Cyprus (-0.29 per cent), Demetra (-1.41 per cent), and K+G Complex Public Company (+0.58 per cent).