Day: December 29, 2022

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 29/12/2022 UNTIL 0600 30/12/2022

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1024hPa (hectopascal)

Weak high pressure is affecting the area. The weather will be mainly fine, with locally increased cloud coverage, while gradually, isolated showers are likely, mainly over western and northern coastal areas.

Visibility: Good, but moderate in showers

Sea surface temperature: 20°C

Warnings: NIL

Source: Cyprus News Agency

The Committee on Missing Persons in Cyprus (CMP) received a donation of €25,000 from the Government of Ireland on 27 December 2022.

A CMP press release said this contribution brings Ireland’s financial assistance to the CMP to a total of €425,000 since 2006.

These funds will support the CMP Project on the Exhumation, Identification and Return of Remains of Missing Persons in Cyprus in 2023 with its goal to end the uncertainty which has affected the families for so many years.

So far, 1,028 missing persons from both Cypriot communities have been identified and returned to their families for dignified burials.

The CMP relies on donor support to implement its bi-communal project that alleviates the suffering of the concerned families. Established upon agreement between the leaders of the two communities, the CMP’s scope is the exhumation, identification and return to their relatives the remains of 492 Turkish Cypriots and 1,510 Greek Cypriots, who went missing during the inter-communal fighting of 1963-1964 and in 1974.

Source: Cyprus News Agency

The technology sector’s (ICT) contribution to the Cypriot economy is estimated to reach €3 billion this year boosting the diversification and the resilience of the Cypriot economy.

According to the latest data more than 1,200 foreign companies, mainly in the field of technology, began operations in Cyprus through the Ministry of Commerce’s Business Facilitation Unit, while 9,800 job permits have been issued to foreign specialised personnel, something which boosted investments and domestic consumption and consequently GDP growth.

The strong growth in the ICT sector in Cyprus has been acknowledged by the European Commission which has upgraded its projection for GDP growth this year by 2.4% to 5.6%. “This is due to higher-than-expected growth in the second quarter of the year, the better-than-expected performance of tourism, as well as the impact of the expanding ICT sector,” the Commission said in its latets post-programme surveillance report.

In statements to CNA, Evgenios Evgeniou, Chairman of the Cyprus Investment Promotion Agency (Invest Cyprus) highlighted the importance of the ICT sector for Cyprus, as apart from its contribution to the economy, the sector contributes decisively in the diversification of the country’s growth model and in the reduction of the trade deficit.

According to data the ICT sector’s contribution is estimated to amount close to €3 billion this year, marking an annual increase of 58% compared to €1.9 billion in 2021. Although the ICT sector includes local telecommunication companies, the increase over €1 billion, amid growing uncertainty due to the war in Ukraine is largely attributed to the attraction of foreign tech companies and specialised staff to Cyprus.

Cyprus implemented a plan to attract foreign technology companies and talent, involving an incentives scheme tabled by the Ministry of Finance, which has been by approved the parliament and are implemented by Invest Cyprus, the Ministry of Commerce, the Ministry of the Interior and the Deputy Ministry for Research, Innovation and Digital Policy.

“This performance is nothing but the fruit of a collective effort and action by the government, the parliament, the public and the private sector,” Evgeniou added, noting that collective efforts yield results.

He noted that even though economic challenges will continue in 2023 “we are optimistic that the interest by international companies of high specialisation to relocate in Cyprus will continue unabated.”

According to data by Invest Cyprus so far more than 35 large foreign corporations have shown in writing interest to relocate their headquarters in Cyprus, with the majority of letters of intent for investments in Cyprus coming from multinational corporations, some of which have already invested on the island, while other investments are in the pipeline.

These investments had a positive impact in other sectors of the economy as well, such as education, health, accommodation, investment funds, asset management, energy, start-ups and real estate.

At the same time, the Ministry of Commerce Facilitation Unit has assisted more than 1,200 foreign companies to begin operations in Cyprus, while data by the Migration Department show that so far a total of 9,800 job permits have been granted to specialised personnel and 8,100 family members have relocated to Cyprus.

It is no coincidence that the Greenfield FDI Performance Index has shown that Cyprus was among the Top 10 countries concerning the recovery of investments following the pandemic with 150% growth in the first half of 2022 compared with the respective period of 2019, while investments in the technology sector have spiked by an annual 600% in the same period.

Source: Cyprus News Agency

Deposits in the Cyprus system registered a small decline in November following three months of increase, dropping to €51.7 billion.

According to data published by the Central Bank of Cyprus, total loans in November continued their downward trend for a fifth consecutive month, declining to €27.1 billion.

Total liquidity in the banking system amounted to €24.6 billion.

Total deposits in November 2022 recorded a net (excluding changes resulting from reclassifications, exchange rate and other adjustments) decrease of €13.2 million, compared with a net increase of €434.5 million in October 2022.

The annual growth rate stood at -0.1%, compared with 0.9% in October 2022, the CBC said.

Furthermore, total loans in November 2022 recorded a net decrease of €19.2 million, compared with a net decrease of €171.9 million in October 2022.

The annual growth rate stood at 0.8%, compared with 0.9% in October 2022, the CBC added.

Source: Cyprus News Agency

In Cyprus at the moment, there is no problem of shortage of antibiotics and beta-lactam antibiotics as is the case in Europe and worldwide, the Director of Pharmaceutical Services Elena Panayiotopoulou told CNA on Thursday.

The European Medicines Agency (EMA) announced last week that 25 out of the 27 EU member states face great shortage in antibiotics and treating patients. The US, Canada and China face similar problems.

We have been reassured by the Cypriot pharmaceutical companies that they have reserves to meet the demands of the local market, said Panayiotopoulou and at currently there is no shortage issue.

She said Europe and the rest of the world are facing a shortage of the antibiotics and beta-lactam antibiotics due to the outbreak of strep infections.

Other reasons for the shortages are the energy crisis around the world, the war in Ukraine and the inability to find raw materials from third countries such as China and India.

In Cyprus, she added, we have contacted the Cypriot pharmaceutical companies which reassured us that they can respond to the local demand.

Source: Cyprus News Agency

The average gross monthly earnings of employees in Cyprus rose by 5.3% in the third quarter of 2022, provisional data released by the Statistical Service of Cyprus (Cystat) show.

Gross employee earnings amounted to €2,069 compared to €1,.965 during the third quarter of 2021, Cystat said.

Cystat pointed out that, during the first, second and third quarters of 2021, the Special Schemes of the Ministry of Labour and Social Insurance for dealing with the pandemic were in force, resulting in reduced average gross monthly earnings, since the amount taken into account is the earnings paid by the employer and does not include any amount paid as an allowance under the Schemes.

Furthermore, the seasonally adjusted average gross monthly earnings during the third quarter of 2022, are estimated at €2,187, marking an increase of 0.7% compared with the second quarter of 2022.

The average gross monthly earnings of male employees during the third quarter of 2022 are estimated at €2,217 and at €1,884 for female employees.

Compared to the third quarter of 2021, the average gross monthly earnings of male and female employees recorded an increase of 5.1% and 5.4% respectively.

Source: Cyprus News Agency

India Foreign Minister Subrahmanyam Jaishankar has reaffirmed his country’s support and solidarity to the efforts to bring about a settlement to the Cyprus problem on the basis of the UN Security Council resolutions.

Jainshakar who is visiting Cyprus, was received Thursday by the acting President of the Republic, House of Representatives President Annita Demetriou, who expressed gratitude over India’s steadfast and principled position regarding the Cyprus problem, highlighting that the Greek Cypriot side is focused on the resumption of the talks with a view to reaching a just and viable solution which would reunify Cyprus in conditions of sustained peace and security.

According to a press release issued by the House of Representatives, Demetriou briefed the Indian Foreign Minister on the escalating Turkish provocations against the Republic of Cyprus both in its exclusive economic zone as well as on the ground, namely in the fenced-off city of Varosha.

During the meeting both sides stressed the historic and close ties between Cyprus and India based on joint principles. The meeting stressed the joint will to further deepen the excellent relations between the two countries and the collaboration in a wide range of fields both on a bilateral and international level.

In this context the meeting highlighted the prospects of India’s participation in the bilateral and trilateral mechanisms developed by Greece and Cyprus with countries of the region, stressing the importance of the further strengthening of bilateral cooperation and exchanges between the two countries both as regards Parliamentary Presidents as well as parliamentary friendship groups.

Referring to the war in Ukraine, Demetriou pointed out that due to its past experiences, Cyprus is aware of the painful consequences of war and occupation and has stood at the side of Ukraine and its people from the outset based on the principles of international law, despite the significant cost for the country.

On his part, India’s FM noted the range of the relations between the two countries, saying that in today’s globalised world the term big or small country is obsolete, recalling that Cyprus enjoys investment activity in India well over its size.

According to the press release Jaishankar reaffirmed his country’s solidarity and support to the efforts to bring about a solution to the Cyprus problem based on the relevant UN resolutions.

He also expressed gratitude over Cyprus’ solidarity to India and particularly its support to the relations between India and the EU.

Following the meeting, Demetriou on behalf of the President of the Republic, presented to Jaishankar a commemorative stamp issued by the Cyprus Post to mark the 75th anniversary since the independence of India and the 60th anniversary from the establishment of diplomatic relations between the two countries.

Cyprus has been divided since 1974 when Turkey invaded and occupied its northern third.

Source: Cyprus News Agency

The condition of a four-year-old girl infected with Streptococcus A who was transferred by an air ambulance during the evening of December 21 from Cyprus to Israel for treatment has slightly improved according to Health Minister, Michalis Hadjipantela.

In statements to Famagusta General Hospital, in Paralimni, where he paid a visit on Thursday, and replying to a question, the Minister said that he was informed yesterday that there was a slight improvement of the girl’s health condition.

“We hope that this improvement will continue and that the girl will soon be back home,” he added.

Source: Cyprus News Agency