06.10.2022
The Cyprus Chamber of Shipping (Kne) announced this week that it supports a joint statement by European shipping industry stakeholders who are calling for shipping revenue sequestration in the Emissions Rights System (ETS) to decarbonize the European shipping sector.
“We fully support the joint appeal of the European shipping authorities and in particular the organizations ECSA, CLECAT, CLIA, ESPO, eFuel Alliance, ENMC, ESC, EWABA, FEPORT and SEA Europe to the Member States of the EU and the European Parliament will direct the income generated from the inclusion European shipping to the ETS system, for the shipping sector,” the chamber said in a statement.
“Obviously, the decarbonization of the shipping sector will only be achieved if revenues are directed towards closing the gap in clean fuel prices, funding research, development and innovation,” the chamber added.
Finally, it explains that these funds can be used to stimulate and develop clean energy solutions and technologies both on board and on land, along with associated investments in land-based facilities and training and retraining of maritime workers.
Startup accelerator ARIS, which stands for A Really Inspiring Space, announced this week that in collaboration with the Cyprus University of Technology (Tepak), an International Investment Forum will be held on October 19, 2022 at 9:00 am at the Asbis Hi Tech Cluster in Limassol .
The forum is organized within the framework of the Gazelle Project, an initiative funded by the Balkan-Mediterranean Program (INTERREG VB) for 2014-2020. The Forum will bring together, encourage and support innovative companies, SMEs and business angels (BA) in the Balkan Mediterranean countries: Bulgaria, Greece, Cyprus and North Macedonia.
Participating companies will have the opportunity to present their activities, business ideas and expectations, become more competitive in the market and expand their cooperation with other foreign companies, especially from other Balkan countries.
During the Forum, innovative companies from Greece, Cyprus and Bulgaria will be given 5 minutes to present their business and/or ideas.
According to a report published on Wednesday by the Statistical Office of Cyprus (Cystat), there was a significant increase in the industrial turnover of Cyprus in 2022.
In July 2022, the industrial turnover index reached 206.3 points (2015 base = 100), indicating a significant increase of 24.9 percent compared to July 2021.
For the period January-July 2022, the indicator increased by 22.6 percent compared to the corresponding period of 2021.
In the manufacturing sector, the index reached 182.4 points in July 2022, up 12.9% from July 2021.
In addition, there was an increase in the electricity supply sectors by 83.1% and in mines and quarries by 12.2%.
Conversely, the water supply and materials recycling sector decreased by 1.2% compared to July 2021.
The Cyprus Stock Exchange (CSE) ended Wednesday, October 5, with losses.
The overall Cypriot stock market index stood at 74.55 points at 13:04 during the day, reflecting a 0.04% drop from the previous trading day.
The FTSE/CySE 20 Index stood at 44.74 points, down 0.04%.
The total transaction value was 13,055 euros.
As for the sub-indices, the main index rose by 0.12%, while the alternative index fell by 0.41%. Indices of hotel and investment companies remained unchanged.
Bank of Cyprus (+0.39%), Petrolina Holdings (no change), Cyprus Cement Public Company (-0.89%), Atlantic Insurance (no change) and Vassiliko Cement Works (-1.54%).
