Cyprus Industrial Production Expands With Diverse Sector Gains In March

Robust Annual Growth Recorded

Cyprus Statistical Service reported a 4.7% annual increase in industrial production during March, with the industrial production index reaching 116.7 points based on 2021 as the benchmark year. The figure exceeded levels recorded in March 2025 and reflected continued growth across several major industrial sectors.

Quarterly Improvements And Overall Impact

Growth recorded during March contributed to a 1.5% increase in industrial production during the first quarter of 2026 compared with the same period a year earlier. According to Cystat, the data indicate continued momentum across Cyprus’s broader industrial sector despite uneven performance between individual industries.

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Sector-Specific Breakdowns

Electricity supply recorded the strongest annual increase in March, rising by 19%. Mining and quarrying activity increased by 9.2%, while water supply and materials recovery rose by 3.9%. Manufacturing activity also expanded, recording a 2.8% increase compared with March 2025.

Manufacturing Trends And Challenges

Within manufacturing, production of basic metals and fabricated metal products rose by 8.5%. Rubber and plastic products increased by 7.1%, while other non-metallic mineral products recorded growth of 4.5%. Food, beverages and tobacco production also rose by 3.5%. At the same time, machinery and equipment manufacturing, motor vehicles and transport equipment production declined by 4.8%. Furniture manufacturing and machinery repair and installation activity also recorded annual declines of 3.9%.

Year-To-Date Sector Performance

For the January to March period, water collection, treatment and supply recorded the strongest increase at 10.1%. Electricity supply rose by 7.4%, while production of basic metals and fabricated metal products increased by 6.4%. Furniture manufacturing and related sectors declined by 6.2%, while machinery and equipment production fell by 5.4%. Textiles, clothing and leather products also remained under pressure, recording a 4.7% decline during the first quarter.

Conclusion

The latest data reflects continued expansion across several key industrial sectors in Cyprus, particularly electricity supply, mining and metal production. At the same time, weaker performance in machinery, furniture and consumer goods manufacturing highlights ongoing challenges across parts of the industrial economy.

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Nvidia Launches Open AI Security Alliance With Microsoft, Palantir And SpaceX

by THEFUTURE.TEAM

July 27, 2026

Nvidia and a coalition of technology companies on Monday launched the Open Secure AI Alliance, a new initiative aimed at strengthening artificial intelligence security through open models.

The alliance was announced days after a cyberattack involving OpenAI models targeted AI platform Hugging Face, an incident that renewed debate over whether open or closed AI systems are better suited for cybersecurity.

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Open Models at the Core

Nvidia said the alliance will focus on identifying, disclosing and mitigating AI security vulnerabilities using open technologies.

“The Open Secure AI Alliance will work to remediate and disclose vulnerabilities using open technologies,” the company said in a statement. “The recent Hugging Face security incident delivered a clear reminder: cyber defenders need open, frontier agentic systems for self-defense.”

The alliance includes Microsoft, SpaceX, Palantir and dozens of other technology companies from the U.S. and Europe.

Open-weight models can be downloaded, modified and deployed on an organisation’s own infrastructure, allowing security teams to inspect and adapt them for defensive purposes. By comparison, proprietary models from companies such as OpenAI and Anthropic are generally accessed through controlled platforms.

U.S. Scrutiny of Chinese AI Grows

The initiative comes as U.S. policymakers weigh potential restrictions on Chinese AI models, particularly open-weight systems. Officials have raised concerns that some Chinese companies may be using distillation techniques to extract knowledge from leading U.S. AI models.

Treasury Secretary Scott Bessent said last week that Chinese companies involved in such activity could face sanctions.

Chris McGuire, senior fellow for China and emerging technologies at the Council on Foreign Relations, told CNBC that potential restrictions could extend beyond model downloads to include API access and cloud-hosted inference services. He added that the debate in Washington is centred on intellectual property protection rather than opposition to open-source AI.

Industry Pushes Back

Last week, Nvidia, Microsoft, Meta, Palantir and more than 20 other companies urged policymakers not to impose what they described as “premature restrictions” on open-weight AI models, warning such measures could reduce competition and encourage innovation to move overseas.

The launch of the Open Secure AI Alliance signals growing industry support for open AI systems as governments consider new regulatory and security measures.

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