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The Industrial Production Index in Cyprus reached 142.9 units in September, with 2015 having been designated as the base year, reflecting a 2.5 per cent annual increase.

According to a report released this week by the Cyprus Statistical Service (Cystat), the index recorded a 0.9 per cent rise during the period from January to September 2023, compared to the same period of the previous year.

The manufacturing sector witnessed a notable increase of 4.0 per cent in comparison to September 2022.

Additionally, there was an increase observed in the water supply and material recovery sector by 8.5 per cent.

Conversely, negative changes were noted in the mining and quarrying sectors (-3.6 per cent) as well as in the electricity supply sector (-3.1 per cent).

In the manufacturing sector, significant positive changes in comparison to September 2022 were recorded in various economic activities.

These include the manufacturing of machinery, equipment, motor vehicles, and other transport equipment (+14.2 per cent), the production of petroleum refining, chemicals, pharmaceuticals, and preparations (+10.5 per cent), as well as the production of basic metals and manufacture of metal products (+10.0 per cent).

In addition, positive changes were recorded in the wood industry, and the manufacture of wood and cork products, except for furniture (+7.6 per cent), as well as the manufacture of electronic and optical products and electrical equipment (+6.4 per cent).

The only activities that experienced negative changes were the production of rubber and plastic products (-4.1 per cent) and the manufacture of furniture and repair/installation of machinery and equipment (-0.5 per cent).

Comparing the growth rates for the period from January to September 2023 with the corresponding period of the previous year, the most notable increases were observed in the manufacturing of machinery, equipment, motor vehicles, and other transport equipment (+13.8 per cent), and the production of textiles, clothing, and leather goods (+12.7 per cent).

Moreover, the manufacture of electronic and optical products and electrical equipment rose by 12.3 per cent year-on-year, while the production of basic metals and manufacture of metal products increased by 12 per cent year-on-year.

Finally, the most significant declines were witnessed in the production of furniture and repair or installation of machinery and equipment (-9.3 per cent) and the electricity supply sector (-7.5 per cent).

 

The Cyprus Chamber of Commerce & Industry (Keve) announced on Thursday that presentations of Cypriot universities and research centres were held in Athens and Thessaloniki on November 25 and 27, respectively, in an effort to position Cyprus as an international and regional education hub.

The initiative for this special mission, featuring the participation of Cypriot universities, was led by the chamber itself, in collaboration with the Ministry of Energy, Commerce, and Industry.

Moreover, the events were organised in cooperation with the Cyprus Trade Centre in Athens and with the support of the Ministry of Education, Culture, Sports, and Youth.

Students, parents, guardians, and educators had the opportunity to attend presentations and lectures focusing on tertiary education in Cyprus and engage in one-on-one discussions with representatives from educational institutions.

During these interactions, attention was drawn to the significant number of students, which exceeded 18,000, hailing from Greece and studying in Cyprus.

Furthermore, the prospects for Greek students studying in Cyprus were highlighted, highlighting favourable opportunities if they chose to do so.

Throughout the presentations, attendees were informed about the advantages offered by Cypriot universities, which operate under Cypriot legislation and are recognised as equivalent to Greek higher education institutions.

Additional incentives were presented, including the familiar environment Cyprus offers to Greek students, the language, culture, safety, and, notably, the high-quality education provided by all academic institutions, both public and private.

The prospects for Greek students studying in Cyprus appeared particularly promising, and efforts will continue to inform interested parties across other regions and prefectures of Greece.

Noteworthy participants in this mission included the University of Cyprus, the Cyprus University of Technology (Tepak), Frederick University, the European University Cyprus, the University of Nicosia, Neapolis University Paphos, UCLan Cyprus, the University of Limassol, and the American University of Beirut – Mediterraneo.

Finally, research centres such as The Cyprus Institute and the Cyprus Institute of Neurology and Genetics also took part.

 

The Cyprus Stock Exchange (CSE) ended Thursday, November 30 with negligible losses.

The general Cyprus Stock Market Index was at 132.27 points at 12:53 during the day, reflecting a decrease of 0.01 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 80.25 points, representing a drop of 0.01 per cent.

The total value of transactions came up to €155,967 until the aforementioned time during trading.

In terms of the sub-indexes, the main index rose by 0.03 per cent while the alternative index fell by 0.17 per cent. The hotel and investment firm indexes remained stable.

The biggest investment interest was attracted by Hellenic Bank (-0.44 per cent), the Bank of Cyprus (+0.64 per cent), the Cyprus Cement Company (-1.54 per cent), Blue Island (+1.22 per cent), and Logicom (no change).

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