Cyprus witnessed a significant surge in retail trade during November 2023, indicating promising growth within the sector, according to a report released this week by the Cyprus Statistical Service (Cystat).
According to the report, the Retail Trade Turnover Index climbed by 5.7 per cent in November 2023 compared to the same month in the previous year.
Moreover, for the period spanning January to November 2023, there was a substantial increase of 9.4 per cent in this index.
The most notable increments in value were observed in the retail of food, beverages, and tobacco products in specialised stores (13.4 per cent), as well as in edible goods (10 per cent).
Simultaneously, the Volume Index of Retail Trade Operations saw a rise of 5.6 per cent in November 2023 in comparison to the corresponding month of the previous year.
What is more, for the period of January to November 2023, this index displayed a growth of 6.1 per cent.
Remarkable increases in volume were recorded across various categories, including laptops and computers, telecommunication equipment, curtains, carpets, books, stationery, sports equipment, toys, flowers, plants, watches, and jewellery (11.5 per cent), as well as retail trade of food, beverages, and tobacco in specialised stores (9.3 per cent).
The Republic of Cyprus’ Treasury has introduced 75 new circulars effective from January 1, 2024, replacing previous regulations, according to an announcement released this week.
These updated circulars, available on the Treasury’s website, mark a modernisation and simplification of the accounting and public resource management framework.
The announcement explained that this initiative, following a study of 1,817 circulars and Letters previously in force, aims to streamline and make more efficient the execution of accounting tasks and support for public resource management.
It added that through the consolidation of regulations into fewer circulars, categorised by theme, the Treasury seeks enhanced effectiveness and efficiency in interpreting and managing public resources.
The Cyprus Stock Exchange (CSE) ended Wednesday, January 03 with losses.
The general Cyprus Stock Market Index was at 135.81 points at 12:57 during the day, reflecting a decrease of 0.18 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 82.45 points, representing a drop of 0.13 per cent.
The total value of transactions came up to €118,132 until the aforementioned time during trading.
In terms of the sub-indexes, the investment firm index rose by 1.42 per cent, while the main, alternative and hotel indexes fell by 0.09 per cent, 0.42 per cent and 0.51 per cent respectively.
The biggest investment interest was attracted by the Bank of Cyprus (+0.29 per cent), Logicom (-1.33 per cent), Hellenic Bank (-0.44 per cent), Salamis Tours (-2.86 per cent), and Vassiliko Cement Works Public Company (+1.25 per cent).
