Cyprus Business Now: Brazil MoU, CIFA roadshow, India business ties
The agreement was signed at the Commodity Supply Chain Conference 2024, which took place from October 22-24 at the Grand Resort Hotel in Limassol.
“The conference, organised by Indevco Group, was held under the auspices of the president of the Republic of Cyprus Nikos Christodoulides, and attracted key leaders from financial institutions, government bodies, and regulatory authorities to discuss the future of the global commodity supply chain,” the agency said in an announcement.
As the international representative of Cyprus’ shipowning community, the union has been instrumental in enhancing the Cyprus registry, positioning the Cyprus flag as a flag of choice for shipowners and companies.
Speaking to the Cyprus Mail, Hajioannou highlighted several key initiatives that the union has undertaken to not only maintain the competitiveness of Cyprus the shipping sector, but also ensure its growth on a global scale.
Zannettou’s remarks were delivered during a meeting with Polish travel agents, currently visiting Ayia Napa as part of a company-organised tour.
In addition, according to an Etap announcement, Zannettou discussed Ayia Napa’s tourism offerings and outlined future plans to boost the sector, following recent local government reforms.
The initiative, led by the International Organisation of Securities Commissions (IOSCO), aims to promote financial literacy and protect both the public and investors.
In her article, Karkoti emphasised the critical role parents and carers play in shaping children’s financial habits and the growing risks posed by unqualified financial influencers, or “finfluencers,” on social media.
The report, which covered the year 2023, showed that banks lean heavily on safer investment-grade bonds while insurance companies diversify their portfolios to mitigate risks.
Specifically, the bond portfolio of credit institutions, which makes up around 20 per cent of their total assets, is heavily weighted toward investment-grade bonds (92 per cent).
The event was held on October 22 under the auspices of the Hellenic Fund and Asset Management Association.
According to the association, it aimed to inform Greek fund managers about the opportunities, regulatory advantages, and tax benefits of establishing and managing alternative investment funds in Cyprus.
Additionally, CIFA said that the conference included discussions on the latest developments in the investment fund sector.
It added that “views were exchanged, laying the groundwork for future beneficial collaborations”.
The event was held in collaboration with the Deputy Minister of Research, Innovation and Digital Policy, Nikodemos Damianou, and the High Commissioner of India to Cyprus Shri Manish.
According to Evgenios Evgeniou, Chairman of Invest Cyprus, “the significant cooperation between Cyprus and India, especially within the technology and services sectors” was emphasised during the meeting.
The Cyprus Stock Exchange (CSE) ended Thursday, October 24 with losses.
The general Cyprus Stock Market Index was at 197.75 points at 12:31 during the day, reflecting a decrease of 0.36 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 120.83 points, representing a drop of 0.38 per cent.
The total value of transactions came up to €519,219, until the aforementioned time during trading.
In terms of the sub-indexes, the main, alternative and investment firm indexes fell by 0.54 per cent, 0.29 per cent and 2.82 per cent respectively. The hotel index remained unchanged.
The biggest investment interest was attracted by Vassiliko Cement Works Public Company Ltd (no change), the Bank of Cyprus (1.64 per cent), Demetra (-2.86 per cent), Logicom (-0.69 per cent), and Frou-Frou Biscuits (-5.85 per cent).