Nicosia, Cyprus. Cyta chief operating officer Nicos Stylianou outlined the organisation’s True Value assessment and its contribution to Cyprus’ economy and society. Separately, Cyprus’ House of Representatives unanimously approved legislation paving the way for the privatisation of the Cyprus Stock Exchange.
Cyta outlines True Value methodology
Stylianou said the True Value assessment aimed to capture with data how Cyta’s activity translates into real value for Cyprus, presenting figures that show benefits for the country.
He said that economic value typically includes what is reflected in annual financial statements, such as revenue, operating costs and profitability.
Stylianou described True Value, or Real Value, as a methodology aligned with international standards that captures Cyta’s broader impact on society by measuring economic, social and environmental contributions and converting them into an equivalent financial value.
He said the approach records positive effects including investments in technological infrastructure, tax payments, job creation, training and social responsibility initiatives, while also taking into account impacts such as environmental effects arising from operations.
Cyprus approves framework for CSE privatisation
The House of Representatives unanimously approved legislation enabling the privatisation of the Cyprus Stock Exchange (CSE), a move the government described as a major institutional reform for the country’s financial sector.
In a statement welcoming the plenary decision, the Finance Ministry said the bill’s passage constitutes a significant institutional and reform milestone as part of the modernisation of the capital market and efforts to strengthen the competitiveness and credibility of the Republic’s financial system.
The ministry said the new law establishes the framework for the privatisation of the CSE and for the transfer of responsibilities of the Central Depository and the Central Registry of Securities to a strategic investor.
It added that the law provides for the uninterrupted continuation of their operations and the protection of the public interest.
What impact do you think the CSE privatisation framework could have on Cyprus’ financial sector?