26.10.2022
According to a published report, the value of overtime and allowances paid by the Republic of Cyprus in 2021 increased by more than 19.5 million euros after the easing of restrictive measures that were introduced in the previous year to combat the pandemic. this week by the Ministry of Finance.
According to the report, the value of overtime and allowances paid by the Republic of Cyprus for 2021 was €159.38 million , while the corresponding amount for 2020 was €139.81 million, resulting in a net increase of €19.5 million between two years.
The Ministry of Finance said the increase is primarily a result of the expansion of activities and services following the easing of restrictive measures put in place to combat the Covid-19 pandemic.
Moreover, the surcharges provided to the Civil Aviation Department increased by 1.5 million euros, due to the increase in air routes. There was also an increase of 1.4 million euros in education-related benefits, which is associated with an increase in the number of sector-related activities.
In addition, allowances related to the activities of the police, the Department of Public Administration and Human Resources, Customs and the Department of Taxation increased by 6.4 million euros. Finally, benefits for public health services increased by 7.7 million euros.
Consulting company EY Cyprus hosted the Cyprus Attractiveness Forum on Tuesday, which analyzed and reviewed the current and future landscape of the Cypriot economy.
In addition, the forum aimed to be a forum for meaningful exchange, bringing together government officials, private sector leaders and other experts to discuss the results of the EY Cyprus Attractiveness Survey 2022, as well as the future of investment and business in Cyprus.
The event was held in cooperation with the Cyprus Chamber of Commerce and Industry (Keve), the Bank of Cyprus, as well as the national investment promotion agency Invest Cyprus.
“At a time of rising geopolitical tensions, inflationary trends, weakening global cooperation and far-reaching climate change, the global economy is heading towards a multidimensional crisis,” the company said, noting that Cyprus has an important role to play.
“Decision makers, businesses and organizations need more than ever to adapt their strategies to meet future challenges and opportunities,” he added, stressing that “foreign direct investment is paramount to rebuilding and transforming our economy.”
Participants included Speaker of the House Annita Dimitriou, Finance Minister Konstantinos Petrides, Deputy Minister for Research, Innovation and Digital Policy Kyriakos Kokkinos, Deputy Minister for Tourism Savvas Perdios, and the US Ambassador. America (USA) in Cyprus, Judith Garber.
The Limassol Sewerage Authority – Amathusa (Sala) on Tuesday announced a meeting with Commissioner for Environmental Protection Clelia Vassiliou.
The Board was represented by Sala President Giannis Tsoloftas, as well as his management team and other members. The meeting discussed a number of issues relating to the competence of the board, future tasks, as well as environmental issues, to which the board pays special attention. On her behalf, the commissioner asked each participant to share their personal views, opinions and thoughts on the above issues. According to the board, this led to a productive discussion during the meeting.
“The board of directors and the environmental commissioner have determined that there is common ground in each side’s approach to resolving these issues,” the board said in a statement. “The Board and the Commissioner are committed to continuing to strengthen their collaboration in the future, which will enable them to take joint action and achieve their environmental goals,” the council added.
The Cyprus Stock Exchange (CSE) ended Tuesday 25 October with a profit.
The overall Cypriot stock market index stood at 75.81 points at 13:53 during the day, reflecting an increase of 0.07% from the previous trading day.
The FTSE/CySE 20 Index stood at 45.50 points, up 0.07%.
The total transaction value was 78,433 euros.
As for the sub-indices, the main and alternative indexes decreased by 0.02%, respectively, while the hospitality and investment companies indices remained stable.
Bank of Cyprus (+0.7%), Lordos United Plastic (-2.22%), Hellenic Bank (-0.84%) and Minerva Insurance (no change) attracted the highest investment interest.
