01.09.2022
Deputy Shipping Minister Vassilis Demetriades traveled to the Netherlands on Wednesday to support and promote Cypriot shipping through a series of meetings with Dutch shipping companies.
According to a statement from the ministry, Demetriades will be in the Netherlands for a total of two days, where he will present a strategic vision for Cypriot shipping called “SEA Change 2030”. It will also showcase the benefits of Cyprus as a shipping hub, including the benefits of the country’s shipping registry.
In addition, as part of his visit, Demetriades will take part in the christening and launching of a new ship under the Cypriot flag. He will also meet with local media to discuss current events and issues facing global shipping. Moreover, it will showcase the approach and initiatives of Cyprus to support the efforts of the shipping industry towards sustainable development.
Demetriades will be accompanied by Deputy Permanent Secretary Liana Charalambous-Tanou and Cypriot Ambassador to the Netherlands Francis Lanitou.
The Industrial Product Price Index for July 2022 rose by 27.5% year on year, according to a report released on Wednesday by the Statistical Office of Cyprus. This reflects inflationary pressures on economic activity associated with the war in Ukraine, as well as the recovery from the Covid-19 pandemic and the resulting restrictions.
According to the report, the industrial product price index for July 2022 reached 140 units (2015 base = 100), up 4.6% month-on-month and 27.5% year-over-year. Between January and July 2022, the index rose by 21.4% year on year. Compared to the corresponding month of the previous year, growth was observed in all sectors.
Electricity supplies rose by 80.6%, followed by mining and quarrying by 15%, water and materials by 14.1%, and manufacturing by 13.1%.
Finally, compared to June 2022, the index increased in the sectors of electricity supply by 16.2%, mining by 4.5% and manufacturing by 0.3%.
According to a report published this week by the Statistical Office of Cyprus (Cystat), in June 2022, the industrial production index in Cyprus reached 142.1 units, an increase of 2% compared to the same period last year. In addition, between January and June 2022, the index rose by 4.2% compared to the corresponding period of the previous year.
According to the report, the manufacturing sector registered a 2.4% year-on-year growth, while the electricity sector also recorded a 1.2% increase. Negative changes were observed in the sectors of mining with a fall of 5.3%, water supply and extraction of materials with a fall of 0.8%.
In the manufacturing industry, the most significant year-on-year positive changes occurred in the production of textiles, clothing and leather goods (+29.3%), furniture and the repair and installation of machinery and equipment (+22.9%), as well as refined products, chemicals and chemicals and pharmaceuticals (+7.6%). On the contrary, the most significant negative changes occurred in the production of electronic, optical products and electrical equipment (-25.6%), production of base metals and finished metal products (-5.4%).
The Cyprus Stock Exchange (CSE) ended Wednesday, August 31st, with a profit.
The overall Cypriot stock market index stood at 73.25 points at 13:48 during the day, reflecting an increase of 0.78% from the previous trading day.
The FTSE/CySE 20 Index stood at 43.93, up 0.80%.
The total transaction value was 122,849 euros.
As for the sub-indices, the main, alternative and investment indexes of companies rose by 0.99%, 0.15% and 0.49%. The hotel index remained stable.
Bank of Cyprus (+2.01%), Logicom (-0.58%), Hellenic Bank (+1.1%), Demetra Holdings (+0.52%) and Petrolina Holdings (+0, 91%).
