27.10.2022
The trade deficit of Cyprus reached 4.4 billion euros for the period from January to July 2022, compared to 3.2 billion euros for the corresponding period in 2021, according to the final data of the Statistical Office of Cyprus (Cystat) released on Wednesday.
According to the report, total imports of goods from both EU Member States and third countries for the period January to July 2022 reached 6.69 billion euros, compared to 4.91 billion euros in the same period in 2021, indicating about an increase of 36.3%.
In addition, total merchandise exports to EU Member States and third countries for the aforementioned period amounted to 2.26 billion euros, compared to 1.7 billion euros for the same period in 2021, an increase of 33.2%.
The European Union was the main source of goods for Cyprus with a share of €3.95 billion of total imports, while imports from the rest of Europe amounted to €624.4 million between January and July 2022. Moreover, the total value of imports from the rest of the world reached 2.11 billion euros.
Exports to the European Union amounted to 648 million euros and exports to other European countries amounted to 248 million euros for the period from January to July 2022. Finally, exports to the rest of the world reached 1.36 billion euros during this period.
International ship management and maritime services companies Columbia Shipmanagement and Marlow Navigation announced on Wednesday that they are in the final stages of completing a merger.
“Columbia Shipmanagement and Marlow Navigation have confirmed that they have received regulatory approval for the separation,” the companies said in a statement. “As is well known in the industry, despite an initial announcement of intent to consider a merger in September 2017 and the subsequent legal incorporation of a Columbia Marlow holding company, the two companies continued to successfully operate fully independently and pursue different business development strategies.”
Finally, both companies said that the research intention to merge was therefore amicably abandoned.
Construction company Cyfield this week announced the completion of a high-rise office building in the center of Nicosia, which the company calls The Metropolitan. The building has 19 floors, 17 of which are reserved for offices, as well as underground parking, a lobby, a mezzanine and a roof garden that can be used for corporate events.
The company said that the new building is equipped with the latest technology, and also has the necessary conditions for future upgrades. Among the features of the building are heat and sound insulation, VRV-conditioning, ventilation, lighting, security systems, fire protection and fire extinguishing.
At the same time, it has double glazing to save energy, fiber optic cables, smart building automation, high-quality raised floors, flexible distribution of services to all offices, conditions for a video surveillance system, and provisions for an access control system.
“The Metro is another gem in downtown Nicosia and Cyfield is particularly proud to offer this unique choice to the business community,” the company said in a statement.
The Cyprus Stock Exchange (CSE) ended Wednesday October 26th with a profit.
The overall Cypriot stock market index stood at 76.43 points at 13:49 during the day, reflecting an increase of 0.25% from the previous trading day.
The FTSE/CySE 20 Index stood at 45.90, up 0.26%.
The total value of transactions amounted to 62,034 euros.
As for the sub-indices, the main index and investment companies index rose by 0.81% and 1.93%, respectively. The alternative index fell 0.73%, while the hotel index remained stable.
Bank of Cyprus (+1.73%), Hellenic Bank (+1.87%), Pandora (+2.14%), Vassiliko Cement Works (no change) and Demetra (+2.04%) generated the highest investment interest .
