Cyprus Business Now

The Council for Registration of Real Estate Agents on Monday that Marinos Kineyirou was re-elected as council president.

“I am particularly happy because Cyprus’ real estate community, almost in its entirety, expressed its confidence in me, but also in the three colleagues who participated on our ticket and have also been elected to the board of directors,” Kineyirou said.

The elections, which were held on Saturday, January 28, also involved the election of the council’s new board of directors.

“The election process went smoothly and the licensed real estate agents chose the leadership of the council for the next three years,” the council said, noting that 83 per cent of licensed real estate agents attended and voted in the election.

Marinos Kineyirou secured approximately 80 per cent of the votes on his way to being re-elected, while Marina Constantinidou, Iakovos Iacovides and Herodotos Herodotou were elected to the three positions that comprise the council’s board of directors.

“Our promise to fellow real estate agents is clear and unequivocal, which is to continue to work without many words but with actions, to give our best in our efforts to strengthen the profession, with the efficiency and methodical fashion that distinguishes us,” Kineyirou stated.

Finally, the re-elected council president expressed his appreciation to his fellow licensed real estate agents for the massive turnout at the polls.

Industrial production in Cyprus experienced an increase of 1.7 per cent year-on-year in the period between January and November 2022, driven mainly by the production of textiles, clothing and leather goods, according to a report released on Monday by the Cyprus Statistical Service (Cystat).

According to the report, the most significant year-on-year increases during the aforementioned period were observed in the production of textiles, clothing and leather goods with 26.3 per cent, the manufacture of furniture and the repair or installation of machinery and equipment with 18.2 per cent.

These were followed by water collection, treatment and supply with 9.6 per cent, as well as the production of petroleum refining products, chemicals, pharmaceutical products and preparations with 7.5 per cent.

Conversely, significant production declines were recorded in the manufacturing of electronic and optical products and electrical equipment by 43.5 per cent, the production of basic metals and the manufacture of metal products by 6 per cent, as well as in the wood industry, where all activities excluding furniture manufacturing fell by by 5.3 per cent.

Meanwhile, the Industrial Production Index reached 131.8 points in November 2022, marking an increase of 1.9 per cent compared to November 2021.

The manufacturing sector saw an increase of 3.3 per cent compared to November 2021.

An increase was also recorded in the mining and quarrying sector, which rose by 8.5 per cent.

The sectors of water supply and material recovery and electricity supply both declined, falling by 5.1 per cent and 4.3 per cent respectively.

The Cyprus Stock Exchange (CSE) ended Monday, January 30 with losses.

The general Cyprus Stock Market Index was at 96.04 points at 13:06 during the day, reflecting a decrease of 0.05 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 58.00 points, representing a decrease of 0.05 per cent.

The total value of transactions came up to €118,820.

In terms of the sub-indexes, the main and investment firm indexes fell by 0.05 per cent and 0.38 per cent respectively.

The hotel and alternative indexes remained unchanged from the previous day.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Salamis Tours (no change), Demetra Holdings (-0.41 per cent), and CLR Investments (no change).