The National Bank of Greece (Cyprus) this week released a statement in which it announced the appointment of Philippos Mannaris as an Independent Non-Executive Member and Chairman of the Board of the bank, following a decision by its Board of Directors and approval from the relevant regulatory authorities.

According to the bank’s statement, Mannaris graduated from the London School of Economics & Political Science with a BSc (First Class Honours) in Analytical Sciences.

He is a qualified accountant and holds a certification in Corporate Governance from INSEAD.

In addition, Mannaris had been the Head of Aon Solutions Cyprus since 2003, responsible for providing advisory services to the Group in Cyprus and the Middle East.

What is more, the bank’s management extended its best wishes for success to Mannaris, saying that it is “looking forward to his valuable and substantive contribution to the work of both the Board of Directors and the Bank as a whole”.

“His extensive expertise and experience are expected to bolster the bank’s strategic direction and governance,” the statement concluded.

According to data published by the Statistical Service on Friday, the Industrial Business Cycle Index reached 202.3 units in May 2023, with the base year being 2015, marking a significant increase of 5.7 per cent compared to May 2022.

The manufacturing sector showed a notable surge, with the index reaching 204.5 units in May 2023, representing a remarkable 7.9 per cent growth compared to the same month last year.

In addition, the mining and quarrying sector also experienced a substantial increase of 27.1 per cent.

However, there was a decline observed in the water supply and waste management sectors, with a decrease of 15.5 per cent, and in the electricity supply sector, with a slight drop of 0.3 per cent.

Over the period from January to May 2023, the Industrial Business Cycle Index displayed an overall growth of 12 per cent compared to the same period in the previous year.

The Cyprus Stock Exchange (CSE) ended Friday, August 4 with profits.

The general Cyprus Stock Market Index was at 119.00 points at 12:58 during the day, reflecting an increase of 0.63 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 72.02 points, representing a rise of 0.64 per cent.

The total value of transactions came up to €64,161.

In terms of the sub-indexes, the main, alternative and investment firm indexes rose by 0.82 per cent, 0.52 per cent and 2.67 per cent respectively. The hotel index fell by 1.32 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (-0.69 per cent), Hellenic Bank (+1.04 per cent), Petrolina (no change), Atlantic Insurance (-1.82 per cent), and Vassiliko Cement Works Public Company (+3.47 per cent).