15.01.2022
TechIsland, a non-governmental organization representing 137 technology companies in Cyprus, announced this week that it has fulfilled its promise to rebuild a school in fire-ravaged Arakapas.
“TechIsland members are donating a total of €900,000 to this cause and remain committed to projects that help Cyprus heal and grow,” said TechIsland General Manager Marios Giorgoudis.
In July 2021, Arakas was hit by terrible wildfires that burned over 55 square kilometers of forest land and killed four people.
“We thought it was critical to provide a safe, comfortable and creative haven for children after such a tragedy,” said Alexei Gubarev, co-founder of Palta and XBT.
Work on the school was completed last November, and TechIsland said the project goes beyond renovation and aims to transform the school into “a symbol of hope and new beginnings.”
The Hospitality Association (Pasika) on Friday urged the Department of Labor and the Ministry of Finance to provide targeted support measures to both businesses and workers in the tourism industry.
“The tourism industry has dealt the final blow with additional restrictive measures introduced during the holiday season, on top of many other regulations already in place,” Pasika said in a statement.
The association added that unless immediate support is provided, businesses “will have no choice but to defer payments and lay off workers, and the state is directly responsible for this tragic situation. “The Institute of Chartered Accountants of Cyprus (Selk) met on Friday with the President of the House of Representatives, Annita Demetriou, to discuss the current state of the economy, the need for tax reforms, and other issues related to taxation and auditing on the island.
Selk was represented at the meeting by Deloitte Cyprus CEO Pieris Markou, PwC Cyprus Partner Nikos Chimarides and Selk CEO Kyriakos Jordanou.
During the meeting, Selk put forward a number of proposals aimed at further enhancing the competitiveness of Cyprus, promoting the island as an international business center, as well as further improving the international position of Cyprus.
Additional issues for discussion included public sector reforms, long-term sustainability, digital reforms, and the fight against corruption and financial crime.
Fasouri fruit plantation workers announced on Friday that on Wednesday, January 19, they will hold a protest outside the presidential palace in Nicosia against the use of foreign workers on the plantation.
“The Ministry of Labor issued permits to foreigners to work in agriculture, which Cypriots have been doing for decades,” Peo workers union said.
The protest followed an official letter detailing the situation sent by the union to Labor Minister Zeta Emilianid on 7 January.
A letter requesting a meeting with the minister to discuss the situation stated that 15 work permits issued to foreign workers for agricultural purposes were misused because they did not include fruit picking.
“We should note that the main task of these workers at this time of the year was fruit picking, which is not included in their permits,” the union said in a letter.
“We are wondering if this has ever been tested,” the union added, explaining that fruit picking is done by teams of workers who have signed various collective bargaining agreements that provide for higher wages.
After falling for two consecutive quarters in the first half of 2021, the House Price Index (CPI) rose in the third quarter of last year on an annualized basis, according to a preliminary estimate from the Statistical Office of Cyprus (Cystat).
In more detail, the house price index (CPI) for the third quarter of the previous year was estimated at 106.55 points. Compared to the second quarter of 2021, the CPI increased by 2.4 percent, and compared to the corresponding quarter of 2020, it increased by 2.2 percent.
The index was down 5.8% year-on-year in the first quarter of 2021, and it also fell 4.9% year-on-year in the second quarter. On a quarterly basis, the CPI decreased by 5.8% in the first quarter of 2021 compared to the second quarter of 2020, and it increased by 1.2% year on year in the second quarter of 2021.
The Cyprus Stock Exchange (CSE) ended Friday, January 14 with a profit.
The main Cyprus stock market index stood at 69.07 points at 13:38 during the day, reflecting an increase of 0.35% from the previous trading day.
The FTSE/CySE 20 index stood at 41.45 points, up 0.36%.
The total transaction value was 37,452 euros.
As for the sub-indices, the main and alternative indices rose by 0.23% and 0.59%, respectively.
The hotel business index fell by 0.4%, while the investment companies index remained stable.
Bank of Cyprus (no change), KEO (+0.75%), Louis Plc (+6.52%), Petrolina (+0.91%) and Tsokkos Hotels (-1.6%) attracted the most investment interest.
