Cyprus Business Now

GlobCom Company, in partnership with SEGULA Technologies, announced this week that it has started trials for Mercedes-Benz vehicles’ ADAS/AD sensory equipment on Cyprus public roads from February 12 to March 25, 2024.

This project represents a crucial stride toward developing future automated driving functions, enhancing road safety and anticipating a decrease in accidents.

Skilled drivers are conducting tests on series production vehicles equipped with ADAS/AD sensors.

Emphasising safety, GlobCom ensures responsible, secure operations, following local road safety regulations and maintaining the driver’s full control of the vehicle.

This collaborative effort aims to contribute to safer and more advanced driving technologies.

Hellenic Bank on Friday released its preliminary group financial results for 2023, posting a full-year profit of €365.4 million, while profit for the fourth quarter alone stood at €124.8 million.

Commenting on the group’s financial results for 2023, Antonis Rouvas, the group’s Interim Chief Executive Officer, stated that “in 2023, Hellenic Bank proved its resilience, delivering solid results despite challenges and uncertainty rising mainly from the geopolitical and economic environment”.

“We managed to deliver an enviable set of financial results with a profit for the year of €365 million mainly due to higher interest income arising primarily from Central Bank placements and debt securities, as well as lower total expenses following the 2022 Voluntary Early Exit Scheme (VEES),” he said.

“This confirms the progress made on several fronts, inclusive of our transformation towards a client-centric and technology-driven bank,” Rouvas added.

Cypriot real estate market analytics firm Ask Wire on Friday released a report on the ten most expensive property transactions completed in Cyprus during January 2024.

The report also provided additional information on the local real estate market, including the highest property sales and their overall value across Cyprus.

According to the report, the top ten property sales island-wide amounted to €14.3 million in total, with the most expensive sale being land and a building in Potamos Germasogeias, Limassol, fetching €2.97 million.

Additionally, the total transaction value of the 50 largest sales in January amounted to €34.4 million.

The Cyprus Stock Exchange (CSE) ended Friday, February 23 with losses.

The general Cyprus Stock Market Index was at 142.05 points at 13:17 during the day, reflecting a decrease of 0.21 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 86.29 points, representing a drop of 0.21 per cent.

The total value of transactions came up to €168,458.

In terms of the sub-indexes, the main and alternative indexes fell by 0.21 per cent and 0.12 per cent respectively. The hotel index rose by 0.97 per cent while the investment firm index remained unchanged from the previous day.

The biggest investment interest was attracted by the Bank of Cyprus (-0.28 per cent), Hellenic Bank (no change), Logicom (no change), Petrolina (no change), and Salamis Tours (no change).