Cyprus Transport Minister Alexis Vafeades, along with Deputy Minister of Shipping Marina Hadjimanolis, provided a tour of the Limassol port and passenger terminal.
They also engaged in discussions on strengthening the ties between the two nations.
In his statements following the visit, the Saudi Transport Minister expressed his pleasure and satisfaction with the visit and hospitality in Cyprus, describing the meeting as constructive for identifying potential areas of collaboration.
“The two countries already enjoy strong ties and close cooperation in the international community regarding transportation,” he stated.
“We work together in the International Maritime Organisation and other international organisations,” he added.
The announcement noted that as of August 31, 2024, the total issued share capital of the bank amounted to 443,894,907 ordinary shares with a nominal value of €0.10 each, with each ordinary share carrying one voting right.
This figure of 443,894,907 can be used by shareholders as a denominator when calculating whether they need to disclose their shareholding or any changes in their shareholding in the company.
The service also noted that the construction sector was a key economic driver, witnessing growth of 10.4 per cent during this time.
Specifically, the growth rate of the economy for the second quarter of 2024 is estimated at 3.6 per cent compared to the same quarter of 2023.
However, after adjusting the gross domestic product (GDP) for seasonal variations and working days, the growth rate is calculated at 3.7 per cent.
In addition, Cyprus’ GDP at the end of the second quarter of 2024 amounted to €6.61 billion.
Commenting a day after the partners (NewMed Energy, Chevron and Shell) submitted a new plan to the tune of a $4 billion cost, Christodoulides said the proposal would be evaluated.
Though he did not delve into details, he said the updated plan “is in the right direction, it is close to the positions of the Republic of Cyprus”.
“For us, Chevron’s presence, the US giant in Cyprus’ exclusive economic zone is a vote of confidence. We will evaluate the new proposal and share our position.”
Christodoulides said he has already arranged meetings with Chevron stakeholders to discuss the matter in his upcoming New York meeting, as part of his attendance in the UN General Assembly.
Sources close to the matter said negotiations were underfoot throughout the day and over the weekend tofind a solution for the financial viability of the Cyprus-Greece-Israel Great Sea Interconnector project, according to CNA.
The aim to is try and ensure the project remains viable amid efforts to inject finances into it without burdening consumers.
According to Christodoulides, talks are underway with the government of Greece, European Commission and European Investment Bank.
Nonetheless, he stressed the government’s main goal shaping its decision is ensuring the cost of electricity for consumers is reduced.
According to the report, the retail trade turnover value index rose by 3.4 per cent compared to July 2023, while the volume index increased by 1.2 per cent over the same period.
For the period from January to July 2024, the value index registered an overall increase of 5.0 per cent compared to the same period in 2023, and the volume index similarly recorded a rise of 3.6 per cent.
Supermarkets and non-specialised stores dealing in food, beverages, or tobacco saw a 4.6 per cent increase in value and a 1.8 per cent rise in volume in July 2024 compared to July 2023.
Similarly, specialised stores for food, beverages, and tobacco experienced an even more pronounced increase, with the value index climbing by 10.2 per cent and the volume index by 5.3 per cent.
However, on a year-on-year basis, the index saw a slight decline of 0.3 per cent when compared to July 2023. For the period from January to July 2024, the PPI registered a decrease of 2.5 per cent compared to the same period in 2023.
The index in the mining and quarrying sector remained stable compared to June 2024, while the electricity supply sector’s index saw an increase of 3.7 per cent.
Similarly, the water supply and materials recovery sector saw a rise of 0.3 per cent, and manufacturing recorded a slight uptick of 0.2 per cent.
The Cyprus Stock Exchange (CSE) ended Monday, September 2 with profits.
The general Cyprus Stock Market Index was at 182.05 points at 12:22 during the day, reflecting an increase of 0.71 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 110.84 points, representing a rise of 0.70 per cent.
The total value of transactions came up to €167,546, until the aforementioned time during trading.
In terms of the sub-indexes, the main and alternative indexes rose by 0.76 per cent and 0.07 per cent respectively. The investment firm index fell by 0.75 per cent while the hotel index remained stable.
The biggest investment interest was attracted by the Bank of Cyprus (+1.61 per cent), Hellenic Bank (+1.63 per cent), Logicom (no change), Demetra (-0.76 per cent), and Vassiliko Cement Works Public Company (no change).
