Cyprus Business Now

Cyprus’ Business Turnover Index in Transportation and Storage reached 143.1 units in the fourth quarter of 2023, with 2015 being the base year, reflecting a 6 per cent increase compared to the same quarter in 2022, according to a report released on Tuesday by the Cyprus Statistical Service (Cystat).

In comparison to the same quarter of the previous year, all individual economic activities recorded growth.

Specifically, air transportation, along with storage and support activities for transportation, marked an increase of 10.9 per cent, land transportation grew by 8.6 per cent, postal and courier activities saw a 0.6 per cent rise, and maritime transportation experienced a 0.4 per cent uptick.

For the period from January to December 2023, the Work Activity Index in Transportation and Storage witnessed a 16 per cent increase compared to the corresponding period in 2022.

These statistics reflect a positive trend in the sector’s performance and economic activities throughout the specified periods.

The Ministry of Energy, Commerce, and Industry has issued a notification regarding the availability of industrial plots for lease in strategic locations.

The Industrial Areas of Frenaros, Kokkinotrimithia, Paphos (Ayia Varvara), and Ypsonas (Ayios Sylas) are open for interested parties, as detailed in the attached spatial plans.

To apply for a lease, interested parties are required to submit a completed special form (BP1), along with the necessary supporting documents outlined in the provided guide.

The deadline for submitting applications is set for April 15, 2024.

This initiative aims to facilitate and encourage industrial development in these areas, providing opportunities for businesses to establish a presence in well-established industrial zones.

The Cyprus Stock Exchange (CSE) ended Tuesday, February 20 with profits.

The general Cyprus Stock Market Index was at 142.61 points at 12:20 during the day, reflecting an increase of 0.35 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 86.64 points, representing a rise of 0.37 per cent.

The total value of transactions came up to €212,875.

In terms of the sub-indexes, the main and alternative indexes rose by 0.11 per cent and 1 per cent respectively. The hotel and investment firm index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (+0.85 per cent), Hellenic Bank (-0.43 per cent), Salamis Tours (+2.86 per cent), Logicom (no change), and Vassiliko Cement Works Public Company (no change).