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Cyprus Stock Exchange Records Significant Increase By 12.87% In May

by THEFUTURE.TEAM
June 13, 2024

A significant increase of 12.87% was recorded in the Cyprus Stock Exchange (CSE) during May, mainly driven by the rise in financial companies, which accounted for 77.54% of the monthly trading volume.

The weight of Bank of Cyprus and Hellenic Bank stocks was particularly notable.

According to a monthly review issued by CSE in the latest trading session of May 2024, the financial markets experienced a significant surge, with the General Index reaching 163.35 points, marking a notable 12.87% increase from the previous month. This upswing was accompanied by a substantial rise in the total value of shares traded, which increased by 51.28% compared to the preceding month.

However, despite the increase the highest level that the General Index reached for the month was 166,62 points. The other Market Indices reached the following levels: Main Market reached 127.47, Alternative Market 1,314.80, and Investment Companies 1.916,24 points. On a sectoral level, the Hotels Index reached 923.57 points. The FTSE/CySE20 reached 99.30 points. The market capitalisation of shares reached € 4.62 billion. According to this month’s results, the Main Market accounted for 21.28% of the total market capitalisation, the Alternative Market 6.23%, the Surveillance Market 0.49% and the Bond Market 72.01%.

Moreover, the total market capitalisation including the Bond Market reached € 16.52 billion compared to € 15.91 billion the previous month, registering an increase of 3.81%. The total value of transactions during the month in review reached € 17.41 million, with an average of € 0.92 million per trading session.

The Financials sector contributed 77.54% to the total value traded which was the highest among all other sectors. Investors primarily focused their interest on the shares of “Bank of Cyprus Holdings Plc” and also on shares of “Hellenic Bank Public Company Ltd” with 42.53% and 29.09% of the total value respectively.

UAE Embarks On 2031 National Investment Strategy To Boost Annual Foreign Inflows

by News Editor
March 11, 2025

The UAE has set a bold vision with its National Investment Strategy 2031, targeting an elevation in annual foreign investment inflows from AED112 billion ($30.5 billion) in 2023 to AED240 billion ($65.4 billion) by 2031. His Highness Sheikh Mohammed bin Rashid Al Maktoum highlighted the strategy’s goal to transform the UAE into a premier global investment hub. Aiming to swell the foreign direct investment stock from AED800 billion to AED2.2 trillion, this strategy focuses on key sectors: industry, financial services, transport and logistics, renewable energy, and telecommunications.

Key Initiatives And Economic Contributions

The approved strategy includes 12 new programs and 30 distinct initiatives, such as the Financial Sector Development and the Investment Offices Promotion Incubator. Currently, foreign direct investment contributes significantly to the GDP, with predictions to increase its share to over 30% of the total investments by 2031.

Dive deeper into the global market shifts in Wall Street Tumbles Amid Trade Tensions.

Technological And Digital Advancements

The strategy outlines the UAE’s vision to become a digital economy powerhouse by 2031, intending to enhance the digital economy’s current contribution to GDP from 9.7% to 19.4%. The Industrial Technology Transformation Index (ITTI) will also play a pivotal role in gauging technological advances and sustainability practices.

The introduction of a remote work system and the launch of the National Green Certificates Program further highlight the UAE’s efforts to harness global talent and promote sustainable development.

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