Economic background, comments and news from the world of economics and business by Yannis Seitanidis<\/p>\n
<\/p>\n
Much has been written about the reshuffle – and much more is said and circulated in the newsrooms. We cannot know exactly what happened and we arrived at the announcement of the changes in the government, but as a result all this political upheaval makes Makis Keravnos a winner as well.<\/p>\n
The Minister of Finance started his term rather awkwardly (let's remember the rumored conflict with the governor of the Central Bank), however he closed fronts, with the VAT on the first residence and the issue of sales being the most prominent. In the summer he was seen as one of the ministers to leave in a reshuffle. Today he seems to have consolidated his position in the Council of Ministers of Nikos Christodoulidis.<\/p>\n
A ministry with many fronts<\/b><\/p>\n
It was difficult for the Minister of Commerce, Giorgos Papanastasiou, the discussion in the Committee of Commerce about the major problem that has arisen with the transition to the new platform of the register of final beneficiary companies and the high fines that have been confirmed. He listened to the intense criticism of the deputies with obvious concern.<\/p>\n
Although he did not try to beautify the situation – he even commented that "Cyprus has no credibility in any field" in a report on the country's image on corruption issues – the members of the Commission were intense, with Mr. Papanastasiou to state that he feels like he entered a classroom with an angry teacher… He almost had a conflict with the president of the Committee, Kyriakos Hatzigianni, who did not like the comment about the teacher after he indicated that there is nothing personal in the positions of the deputies.<\/p>\n
The CSE in Social Media<\/b><\/p>\n
The Cyprus Stock Exchange proceeded to create accounts on Social Media. The accounts of the CSE concern LinkedIn, Facebook and Instagram, under the name Cyprus Stock Exchange. Specifically, the digital channels of the CSE are the following:<\/p>\n
https:\/\/cy.linkedin.com\/company\/the-cyprus-stock-exchange<\/p>\n
https:\/\/www.instagram.com\/cyprus.stock.exchange\/<\/p>\n
https:\/\/www.facebook.com\/profile.php?id=61554183698255<\/p>\n
Through this initiative, the CSE aims to strengthen the visibility of its markets, services and activities. Those interested in the CSE can receive updates on the relevant accounts above and the Stock Exchange will evaluate comments and suggestions and carry out continuous upgrades\/modernization for the best possible information and service to the market participants.<\/p>\n
Privatization<\/b><\/p>\n
We see movement in the privatization process of the Cyprus Stock Exchange, as the relevant bill, which provides for a competitive process for the selection of a strategic investor, was put into consultation by the Ministry of Finance. The consultation has been completed and we are now awaiting the final bill. With the same bill, the status of CSE employees is also regulated by transferring them to the Ministry of Finance. A company will be established to which the project and activities of the CSE will be transferred and the company will be sold to the private investor.<\/p>\n
Let us repeat, for the umpteenth time, that the Cypriot economy needs a smooth stock exchange to finance businesses and investments.<\/p>\n
The million euros of the EIB<\/b><\/p>\n
At the end of 2023, the European Investment Bank (EIB) advanced new financial support of \u20ac230 million for two projects in Cyprus: a \u20ac100 million loan for investments in waste water management in Nicosia, Limassol and Larnaca and a \u20ac130 million loan .euro for "smart investments". If the EIB did not exist, we would have to discover it… Despite the excess liquidity in the Cypriot banking system, domestic banks refrain from financing public projects.<\/p>\n
Mobility in air transport<\/b><\/p>\n
The Greek airlines Aegean and SKY express have their eyes permanently set on Cyprus. Both add options for the Cypriot public, with the Athens – Larnaca route being gold-plated. SKY express named "Cyprus" the first AIRBUS A321neo type aircraft it received. Aegean has found a local ally, Cyprus Airways, with which they signed a long-term lease agreement. The Cypriot carrier will lease two Airbus A320 aircraft to the Greek carrier, a deal with benefits for both: Cyprus Airways will grow its fleet and Aegean will add capacity over the next 12 months.<\/p>\n
Disclaimer: The content and information of the column are provided solely for informational purposes and in no way can be taken as advice, suggestion, offer to buy or sell securities, nor as a solicitation to make any form of investment. There is no responsibility of the website for any investment and other decisions that will be made based on this information.<\/i><\/b><\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The text discusses various topics related to the economy and business in Cyprus. It mentions the political reshuffle in the government and how the Minister of Finance, Makis Keravnos, has solidified his position. It also talks about the challenges faced by the Minister of Commerce, George Papanastasiou, and the criticism he received from members of the Commerce Committee. The text also mentions that the Cyprus Stock Exchange has created accounts on social media platforms to enhance its visibility and communication with interested parties. Additionally, it discusses the privatization process of the Cyprus Stock Exchange and the financial support provided by the European Investment Bank for projects in Cyprus. Finally, it mentions the increased mobility in the aviation sector, with Aegean and SKY express airlines offering more options for Cypriot travelers. Fact: The Cyprus Stock Exchange has created accounts on social media platforms to enhance its visibility and communication.<\/p>\n","protected":false},"author":2,"featured_media":1955,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[186,3,26,249,415,112,64],"class_list":["post-1954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-business","tag-cyprus","tag-economy","tag-facebook","tag-government","tag-iiiiiiiii","tag-makis-keravnos"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n