“This agreement brings to an end a prolonged period of unnecessary and damaging disputes, which had caused numerous issues and uncertainty for the future of both the bank and its staff,” said Etyk in a statement following the signing.
One of the key aspects of the new agreement is the inclusion of all Hellenic Bank employees under the same pay and benefits structure, unifying staff from both the former Cyprus Cooperative Bank and Hellenic Bank under a consistent framework.
The conference also examined the opportunities arising from Cyprus’ close economic ties with the United Kingdom.
Costas Hadjipanayiotou, director general of the Labour Ministry, delivered the keynote address on behalf of minister Yiannis Panayiotou.
He emphasised that in recent years, Cyprus has embarked on a “transformation journey” aimed at building a “prosperous, resilient economy characterised by ease of doing business in a sustainable environment”.
Specifically, Cyprus saw a 14.3 per cent drop in total imports for September 2024, reaching €944.2 million, compared to €1.1bn in the same month last year.
The year-to-date figures for January to September 2024 further reflect a downward trend, with imports dropping by 15.2 per cent to €8.53bn, compared to €10.07bn over the same period in 2023.
Exports also fell by 10.6 per cent, reaching €2.94bn from €3.29bn last year.
This figure marks a significant year-on-year increase, largely due to the addition of casual staff in the educational service.
The average employment for January to October 2024 stood at 54,128 people, up by 3.4 per cent (1,784 people) from the same period in 2023.
Agritrade Uganda’s mission is to promote the country’s agricultural products on the international market, as well as to attract interest from foreign investors in the Ugandan agricultural sector.
According to the chamber, this initiative aims to strengthen trade and investment ties between the two countries.
“Climate change is an undeniable reality that requires immediate action,” said EIB vice president Kyriacos Kakouris.
“The fact that Cypriots explicitly recognise the need to adapt their way of life reflects a profound understanding of the situation,” he added.
Specifically, registrations of saloon passenger cars rose by 8.2 per cent, totalling 33,440, compared to 30,897 in the same period in 2023.
Of these saloon passenger cars, 13,308 (39.8 per cent) were new, while 20,132 (60.2 per cent) were used cars. However, rental cars saw a significant decrease of 29.5 per cent, totalling 3,637.
Government spokesman Konstantinos Letymbiotis on Monday called for house prices to fall.
He pointed out that Cyprus has seen the third-lowest rate of house price increases in the European Union since 2015, with average house prices on the island having risen by 10.3 per cent in the last nine years.
However, he said, “that upward trend must be reversed” to “maintain the high rate of home ownership seen in recent decades and bolster access to affordable housing”.
The Cyprus Stock Exchange (CSE) ended Monday, November 11 with profits.
The general Cyprus Stock Market Index stood at 203.81 points at 12:38, reflecting an increase of 0.19 per cent.
The FTSE / CySE 20 Index was at 124.13 points, reflecting a rise of 0.18 per cent.
The total value of transactions amounted to €479,580 at the aforementioned time during trading.
In terms of the sub-indexes, the main, alternative and investment firm indexes rose by 0.24 per cent, 0.09 per cent and 0.57 per cent respectively. The hotel index remained unchanged.
The biggest investment interest was attracted by the Bank of Cyprus (-0.68 per cent), Demetra Holdings (+0.58 per cent), Hellenic Bank (+0.47 per cent), Logicom (+0.66 per cent), Cosmos Insurance (-9.62 per cent).
