Cyprus Business Now

Cyprus experienced a notable increase in road freight transportation during the third quarter of 2023, indicating a positive trend in the movement of goods, both within Cyprus, as well as to and from the island.

According to a report from the Cyprus Statistical Service (Cystat), covering the period from July to September 2023, the total weight of products transported within Cyprus saw a 0.5 per cent rise compared to the same period in 2022.

Additionally, the weight of cargo transported by road to and from Cyprus saw a significant increase of 18.9 per cent.

Examining a broader timeframe, from January to September 2023, the overall weight of products transported within Cyprus demonstrated a more substantial increase, recording a 3.7 per cent growth compared to the same period in 2022.

Similarly, the weight of cargo transported by road to and from Cyprus during this period witnessed a notable uptick, rising by 18.4 per cent.

The data suggests a positive momentum in road freight transport activities, highlighting the economic activities and trade dynamics on the island.

The total assets of investment organisations in Cyprus saw a marginal decrease of 0.8 per cent in December 2023, amounting to €6.49 billion, compared to €6.55 billion in September 2023, according to a report by the Central Bank of Cyprus (CBC).

The report noted that the number of investment organisations also experienced a slight reduction, falling from 321 in September 2023 to 316 in December 2023.

Breaking down the figures for December 2023, the total assets of investment organisations comprise stocks and other related securities valued at €4.66 billion, deposits and loans amounting to €760.9 million, while bonds accounted for €554.6 million.

In addition, non-financial assets came up to a total of €358.9 million, and other asset components were valued at €151.2 million.

The Cyprus Stock Exchange (CSE) ended Monday, February 19 with profits.

The general Cyprus Stock Market Index was at 143.07 points at 12:34 during the day, reflecting an increase of 1.29 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 86.92 points, representing a rise of 1.33 per cent.

The total value of transactions came up to €147,580.

In terms of the sub-indexes, the main, alternative and investment firm indexes rose by 1.9 per cent, 0.43 per cent and 6.85 per cent respectively. The hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+0.57 per cent), Hellenic Bank (no change), Blue Island (+4.17 per cent), Pandora (no change), and Logicom (no change).