The Cyprus Chamber of Commerce and Industry (Keve), a member of the Enterprise Europe Network Cyprus, on Wednesday extended an invitation to an exclusive seminar designed to equip Cypriot companies with the tools they need to penetrate the Japanese market.

“If you are part of the business sector eagerly seeking to explore the potential Japan has to offer, mark your calendar for this event,” the chamber said.

In collaboration with the EU-Japan Centre for Industrial Cooperation, Keve will host an online educational seminar on October 25, 2023, aimed at shedding light on the intricate landscape of entering the Japanese market.

Participation in this enlightening seminar is completely free of charge, offering businesses an invaluable opportunity to gain insights and expertise without financial constraints.

The seminar will delve into essential elements surrounding market entry strategies for Japan.

It will meticulously analyse the challenges and prospects that businesses need to consider when aiming for a successful presence in the Japanese market.

This seminar presents a unique platform for attendees to delve deeper into the Japanese market’s intricacies, fostering the development of effective strategies to accomplish their objectives.

Additional information on registration is available here.

Industrial production in Cyprus witnessed a growth of 1.1 per cent in June compared to the same period last year, as reported by the Cyprus Statistical Service on Wednesday.

According to the data, the Industrial Production Index for June 2023 reached 143.1 units (base year 2015=100), reflecting a 1.1 per cent increase compared to June 2022.

During the period from January to June 2023, the index showed a 0.3 per cent increase compared to the corresponding period of the previous year.

In the manufacturing sector, there was a notable increase of 3.2 per cent compared to June 2022. Positive growth was also recorded in the sectors of water supply and waste material recovery (+21.5 per cent) and mining and quarrying (+7.8 per cent). However, the electricity supply sector experienced a negative change (-11.4 per cent).

Within the manufacturing sector, the most significant positive changes compared to June 2022 were observed in the following economic activities: the production of textiles, clothing, and leather goods (+20.1 per cent), basic metals production and manufacture of metal products (+15.0 per cent), machinery and equipment manufacturing, motor vehicles, and other transport equipment manufacturing (+11.9 per cent), and wood industry and manufacture of wood and cork products, except furniture (+11.7 per cent).

Negative changes were observed in furniture manufacturing and machinery and equipment repair and installation (-15.6 per cent) and in the production of petroleum refining, chemicals, pharmaceuticals, and medicinal products (-1.2 per cent).

When comparing the growth rates for the period of January to June 2023 with the corresponding period of the previous year, the most substantial increases were seen in the production of textiles, clothing, and leather goods (+16.3 per cent), material recovery (+13.8 per cent), basic metals production and manufacture of metal products (+11.1 per cent), mining and quarrying (+8.1 per cent).

In addition, increases were observed in the manufacturing of other non-metallic mineral products (+7.4 per cent), as well as in machinery and equipment manufacturing, motor vehicles, and other transport equipment manufacturing (+7.4 per cent).

The activities that exhibited the most significant decreases in production compared to the January to June 2022 period were electricity supply (-12.9 per cent) and furniture manufacturing and machinery and equipment repair or installation (-9.2 per cent).

The Cyprus Stock Exchange (CSE) ended Wednesday, August 30 with losses.

The general Cyprus Stock Market Index was at 134.32 points at 13:12 during the day, reflecting a decrease of 0.25 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 81.60 points, representing a drop of 0.24 per cent.

The total value of transactions came up to €133,217.

In terms of the sub-indexes, the alternative index rose by 0.15 per cent, while the investment firm, main and hotel indexes fell by 1.25 per cent, 0.45 per cent and 0.12 per cent respectively.

The biggest investment interest was attracted by Hellenic Bank (-0.44 per cent), the Bank of Cyprus (+0.34 per cent), Logicom (no change), Atlantic Insurance (+0.6 per cent), and Demetra Holdings (-1.3 per cent).