Cyprus Business Now: green jobs, India forum, airport deal

Approximately one in four employees, estimated to number 122,315 people, are expected to work in sectors contributing to the green economy, according to Cyprus’ Human Resource Development Authority (HRDA).

The European Union (EU), through its European Green Deal, has set ambitious targets that include implementing policies and measures to achieve climate neutrality by 2050.

A key condition for meeting these targets is having a suitably skilled workforce equipped with the necessary knowledge and skills.

Recognising the significance of the transition to a green economy and its impact on the job market, the HRDA has developed a study titled “Identification of Needs in Green Jobs and Skills in the Cypriot Economy 2024-2030”.

Eurobank Cyprus on Thursday announced that it explored the deepening of business relations with India through its participation in the India Mediterranean Business Conclave.

The forum, which was held by the Indian Ministry of External Affairs and the Confederation of Indian Industry (CII) on September 6, in New Delhi, aimed to enhance regional cooperation and expand investment opportunities between India and Mediterranean countries.

“The Eurobank Cyprus delegation underscored the bank’s business model, which relies on five core pillars of activity, positioning it as a leading and reliable provider of banking and investment services,” the bank said in its announcement.

It added that “the bank’s philosophy focuses on building long-term trust with clients, offering tailored banking products, and maintaining a robust and healthy portfolio”.

The fourth iteration of Tech Talks, inspired by a similar initiative by Google, is scheduled to take place on Monday, October 7, 2024, at the premises of Deloitte Cyprus in Nicosia.

The event, running from 7:00 PM to 9:30 PM, will bring together members of Cyprus’ technical community for an evening of presentations and networking.

According to a press release, these events aim to share a wide range of technical knowledge, from basic concepts to advanced discussions.

Deputy Minister of Shipping Marina Hadjimanolis announced this week the results of the recent elections for two key advisory committees, which aim to enhance the competitiveness and quality of Cyprus’ maritime sector.

These committees are the advisory committee on competitiveness and quality enhancement of the Cyprus flag, as well as the advisory committee on competitiveness of the Cyprus maritime cluster.

“It is truly an honour to have such distinguished individuals providing advice and recommendations to the deputy minister of shipping,” Hadjimanolis said.

“Your wealth of knowledge and experience will undoubtedly contribute to the development and excellence of the Cypriot maritime sector,” she added.

Chief scientist Demetris Skourides recently made an appearance at the Chief Science Advisors Roundtable (CSAR 2024), marking the first time Cyprus was represented at the event.

Organised by UNESCO and the Office of the Principal Scientific Adviser to the Government of India, the roundtable was held on September 6, 2024, at the UNESCO headquarters in Paris.

This year’s theme revolved around ‘fostering open science, bridging knowledge asymmetry, and building science advice capacity globally’.

According to an official announcement, the event aimed to advance open science, reduce knowledge inequalities, and enhance the capacity for scientific advice worldwide.

High Commissioner of India to Cyprus Shri Manish visited the Cyprus Ports Authority (CPA) headquarters in Nicosia this week.

The visit, which took place on Wednesday, sought to explore investment and development opportunities of interest to Indian firms and joint ventures.

Additionally, the High Commissioner was briefed on various aspects of the CPA’s operations.

Government employment in Cyprus recorded a 3.9 per cent increase in the first eight months of this year compared to the same period in 2023, according to a report released this week by the Cyprus Statistical Service (Cystat).

According to the report, the total number of people employed by the government reached 52,452 in August 2024.

During the period from January to August 2024, the average total government employment stood at 54,227 individuals, marking an increase of 2,019 people, 3.9 per cent, compared to the corresponding period in 2023.

The Great Sea Interconnector (GSI) is a top priority for Israel, the country’s energy ministry head Eli Cohen has said, adding he stressed this to Cyprus’ Energy Minister George Papanastasiou.

In a post on X, Cohen said he spoke with Papanastasiou and “we underscored the strong relationship and ongoing cooperation between Israel and Cyprus and I emphasised the great importance of the Great Sea Interconnector project to Israel,” he wrote.

He added that “the project will connect Israel’s electricity grid to the European one through Cyprus and Greece and strengthen energy security in the region.

The government and airport operator Hermes are close to reaching a deal on the second phase of works promised at the Larnaca and Paphos airports, which would extend the company’s management of the airports.

Both sides have reached a preliminary agreement on implementing the second phase of infrastructure works and are moving towards a final agreement soon at the Central Committee for Changes and Demands.

According to a report in Philenews, this agreement is a compromise, which was reached after successive consultations and discussions between the government and the airport operator and is divided into three parts.

The extension of the concession period of the airports is directly linked to the second phase of the infrastructure works.

The Cyprus Stock Exchange (CSE) ended Thursday, September 12 with minor losses.

The general Cyprus Stock Market Index was at 183.44 points at 12:48 during the day, reflecting a decrease of 0.60 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 111.69 points, representing a drop of 0.61 per cent.

The total value of transactions came up to €123,280, until the aforementioned time during trading.

In terms of the sub-indexes, the main index fell by 0.65 per cent, the alternative index decreased by 0.26 per cent, while the hotel index and the investment firm index remained stable.

The biggest investment interest was attracted by Bank of Cyprus with €89,168 (-0.61 per cent), Hellenic Bank with €23,761 (-1.18 per cent), Logicom with €6,956 (-0.67 per cent), Vassiliko Cement Works with €1,740 (-0.57 per cent), and Petrolina Holdings with €1,640 (-1.20 per cent).