Cyprus Business Now
The Cyprus Real Estate Agents Registration Council on Wednesday released an announcement stressing that it has intensified its efforts to combat the issue of illegal real estate brokering, resulting in 167 criminal cases filed during the year 2023.
The council’s president, Marinos Kineyirou, underlined the organisation’s commitment to not only safeguarding their profession but also protecting unsuspecting people who may fall victim to fraudsters.
Kineyirou stated that “our efforts to combat illegal real estate brokering are ongoing, and for this purpose, we utilise all available legal means”.
“We have made it clear to everyone that we are determined to address the plague of illegality, which critically affects the livelihoods of licensed real estate agents,” he said.
The Great Britain-Cyprus Business Association held a conference on Tuesday evening which put the spotlight on Larnaca’s potential as a key investment destination.
The event, titled “A Hidden Gem in the Mediterranean,” sought to cast the spotlight on Zenon’s city as a flourishing hub for both local and international investors.
Savvas Kyriakides, the founder and President of the Great Britain-Cyprus Business Association, articulated the essence of the gathering in his opening address.
“The conference’s goal,” Kyriakides emphasised, “is to promote Larnaca as an emerging force in Cyprus, taking the baton from other cities.”
The 7th Annual Capital Link Cyprus Shipping Forum, which took place in February, saw a number of optimistic messages being conveyed regarding the global and Cypriot shipping industry, amidst a period of intense uncertainty for the international economy.
The event, which was held with the support of Hellenic Bank, involved analysts and maritime sector stakeholders outlining the challenges, risks, and opportunities currently at play in the shipping industry.
According to an announcement by the bank released on Wednesday, this offered attendees “a highly insightful glimpse into industry developments”.
The government on Wednesday announced its approval of a bill which would give it the power to set the maximum price of some products, including bottled water, at airports and ports.
Speaking after a cabinet meeting, Energy Minister George Papanastasiou said the bill would allow the government to set maximum retail prices of products “at specific points of sale”.
He added that the bill concerns places which are effectively closed markets, such as airports and ports, and that it “probably also concerns hospitals”.
Deputy Minister of Culture Vasiliki Kassianidou has proposed further ways of promoting Ayia Napa as a tourist destination through the creation of cultural routes.
During a tour of Famagusta by the minister on Sunday, means of highlighting the cultural and religious wealth of the region were discussed, including areas of archaeological interest recently uncovered.
“Among its objectives the deputy ministry aims to create cultural routes, in collaboration with the deputy ministry of tourism, to highlight monuments and [areas] as well as the cultural landscape,” Kassianidou said.
The Cyprus Stock Exchange (CSE) ended Wednesday, March 6 with profits.
The general Cyprus Stock Market Index was at 147.15 points at 13:10 during the day, reflecting an increase of 0.78 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 89.41 points, representing a rise of 0.79 per cent.
The total value of transactions came up to €218,012.
In terms of the sub-indexes, the main and alternative indexes rose by 0.69 per cent and 0.7 per cent respectively. The hotel and investment firm indexes remained unchanged.
The biggest investment interest was attracted by Vassiliko Cement Works Public Company (+0.61 per cent), Demetra Holdings (+2.21 per cent), Hellenic Bank (+0.81 per cent), K+G Complex (-0.56 per cent), and the Bank of Cyprus (+1.68 per cent).