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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.

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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.

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Google Antitrust Appeal Faces Setback Amid Advocate General’s Recommendation

by THEFUTURE.TEAM

June 19, 2025

Google is confronting significant legal headwinds as an Advocate General at the European Court of Justice (ECJ) has recommended dismissing the tech giant’s appeal against a landmark antitrust penalty, thereby affirming the fine. The advisory opinion calls for upholding the record 4.1-billion-euro sanction, which was initially imposed for alleged abuse of its Android platform through pre-installation agreements with handset manufacturers.

Regulatory Pressure and Legal Implications

The recommendation issued by Advocate General Juliane Kokott marks a critical moment in the ongoing antitrust case that scrutinizes Google’s control over the mobile operating system. The fine, which was slightly reduced in 2022 from 4.34 billion euros to 4.125 billion euros, reflects concerns about monopolistic practices that the European Commission has long battled against. Although the opinion delivered by the Advocate General is non-binding, ECJ judges typically adhere to such guidance in a majority of cases, setting the stage for a potentially final ruling in the coming months.

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Corporate Response and Broader Implications

In response to the recommendation, Google expressed disappointment, warning that such regulatory actions could stifle investment in open platforms and hinder the ecosystem that supports Android users, partners, and thousands of developers worldwide. The company maintains that Android has expanded choices and fostered business growth across Europe and globally. The unfolding legal saga underscores the broader challenges that multinational technology companies face as they navigate increasingly stringent regulatory landscapes.

Looking Ahead

As the ECJ prepares for a final ruling, the decision will not only impact Google’s financial outlook but also shape the regulatory framework for digital markets in Europe. Industry observers note that the outcome could set a precedent, influencing how other tech giants are scrutinized for their market practices in an era of intensified antitrust scrutiny.