Cyprus Business Now
Vehicle registrations in Cyprus experienced a substantial increase of 24.4 per cent during the first half of 2023, compared to the corresponding period in 2022.
Additionally, registrations rose by 22.4 per cent in June 2023 compared to June of the previous year.
According to the Statistical Service, total registrations of motor vehicles in June 2023 reached 4,094, marking a 22.4 per cent increase compared to 3,344 registrations in June 2022.
Specifically, passenger car registrations increased by 22.3 per cent, reaching 3,166 registrations compared to 2,588 in June 2022.
Moreover, the total number of registered vehicles increased by 24.4 per cent in the period of January to June 2023, reaching a total of 22,021 registrations compared to 17,697 during the same period in 2022.
New vehicle registrations saw a growth of 21.6 per cent to reach 10,529, while used vehicle registrations increased by 27.2 per cent to reach 11,492.
According to the Statistical Service, passenger car registrations increased by 24.8 per cent during the January-June 2023 period, with a total of 17,600 registrations compared to 14,101 in the corresponding period of 2022.
Out of all passenger car registrations, 7,569 or 43.0 per cent were new cars, while 10,031 or 57.0 per cent were used cars.
In particular, rental cars showed a notable increase of 28.8 per cent with 3,164 registrations, while bus registrations increased to 189 in the January-June 2023 period, up from 47 during the same period in 2022.
Furthermore, registrations of commercial vehicles increased to 2,113 in the January-June 2023 period, compared to 1,907 in the corresponding period of 2022, marking a growth of 10.8 per cent.
Specifically, light commercial vehicles increased by 7.1 per cent to 1,651 registrations, heavy commercial vehicles rose by 38.3 per cent to 260 registrations, road tractors (trucks) increased by 52.5 per cent to 61 registrations, and rental vehicles grew by 2.9 per cent to 141 registrations.
The Cyprus Insurance Association (SAEK) this week honoured the top-performing students from the School of Economics and Management at the University of Cyprus during an award ceremony held on June 22, 2023, at the university’s auditorium.
Andreas Athanasiades, the General Director of SAEK, presented the three winning students with prizes totalling €1,500.
Moreover, expressing the association’s long-standing support for the School of Economics and Management at the University of Cyprus, Andreas Athanasiades highlighted SAEK’s belief in the potential of the country’s young talents.
According to a relevant announcement, the “School of Economics and Management at the University of Cyprus has consistently excelled in research, teaching, program development, and academic achievements, earning international recognition”.
“Recently, the school obtained accreditation from the international organization AACSB, further solidifying its reputation,” it added.
Finally, SAEK extended its “congratulations to the University of Cyprus, the rector, and the entire academic and administrative team of the School for achieving this significant accreditation”.
“The recognition reflects their dedication to students and the broader business community,” the association concluded.
The Cyprus Stock Exchange (CSE) ended Tuesday, July 11 with profits.
The general Cyprus Stock Market Index was at 116.17 points at 13:23 during the day, reflecting an increase of 0.57 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 70.27 points, representing a rise of 0.63 per cent.
The total value of transactions came up to €83,891.
In terms of the sub-indexes, the main and investment firm indexes rose by 1.13 per cent and 5.52 per cent respectively, while the hotel index fell by 2.76 per cent. The alternative index also decreased, dropping by 0.09 per cent.
The biggest investment interest was attracted by the Bank of Cyprus (no change), the Cyprus Cement Company (no change), Demetra (+5.83 per cent), and Salamis Tours (+2.27 per cent).