Cyprus Business Now
The Construction Materials Price Index in Cyprus has experienced a marginal increase of 0.08 per cent in November 2023, when compared to the same period last year, with significant hikes in mineral fuels while metallic products experienced a decrease.
According to a report released by the Cyprus Statistical Service (Cystat) on Monday, the Construction Materials Price Index for November 2023 reached 134.04 units, based on a base value of 100 units, starting in 2015.
Across major product categories, increases were recorded in minerals (13.72 per cent), mineral products (5.47 per cent), wood, insulation, chemicals, and plastics (0.50 per cent), as well as electromechanical products (0.39 per cent).
However, the report noted that a decrease was observed in metallic products (-8.34 per cent).
Compared to the previous month, the index saw a decline of 0.19 per cent.
Finally, for the period from January to November 2023, the index recorded a 3.13 per cent increase compared to the same period in 2022.
The President and CEO of the Cyprus Shipping Chamber, Themis Papadopoulos and Thomas Kazakos, participated as part of the Cypriot delegation in the Annual General Assembly and Board Meeting of the European Community Shipowners’ Associations (ECSA), held in Brussels under the presidency of Cypriot shipowner Filippos Filis, discussing current issues affecting European Shipping.
According to a statement from the Cyprus Shipping Chamber, among the main topics discussed during the Board meeting were the strategic policy priorities of the Union for 2024-2029 aimed at addressing challenges and maintaining the competitiveness of European Shipping concerning international competition, in view of the upcoming elections in the European Parliament, and the appointment of the new European Commission in 2024.
“At the General Assembly, Mr. Filis was honoured by the board for his highly successful tenure as President of the Union over the past two years, during which he significantly contributed with personal commitment, dedication, and exemplary leadership to achieving significant goals, enhancing progress and further development of European Shipping,” the statement noted.
Furthermore, the CEO of the Chamber, Thomas Kazakos, was unanimously re-elected for the fourth consecutive time as the President of the Union’s State Aid Committee, thus continuing Cyprus and the Chamber’s active involvement in shaping European ship ownership tax policy through the committee’s work.
The Cyprus Stock Exchange (CSE) ended Monday, December 18 with profits.
The general Cyprus Stock Market Index was at 135.90 points at 12:41 during the day, reflecting an increase of 0.32 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 82.50 points, representing a rise of 0.33 per cent.
The total value of transactions came up to €47,965 until the aforementioned time during trading.
In terms of the sub-indexes, the main and investment firm indexes rose by 0.56 per cent and 2.83 per cent respectively. The alternative index fell by 0.01 per cent while the hotel index decreased by 0.72 per cent.
The biggest investment interest was attracted by the Bank of Cyprus (-0.59 per cent), Atlantic Insurance (+0.59 per cent), Hellenic Bank (+0.44 per cent), Logicom (no change), and Leptos Calypso Hotels (-5.17 per cent).