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Cyprus Industrial Production Falls 4.9% In November Amid Sectoral Shifts

by THEFUTURE.TEAM

January 31, 2025

Industrial production in Cyprus declined by 4.9% in November 2024, with the Industrial Production Index dropping to 102.7 units (base 2021=100), according to data released by the Cyprus Statistical Service on Thursday.

A major contributing factor to the decline was a 44.2% drop in the manufacturing of non-metallic mineral products, largely impacted by a strike in the ready-mix concrete sector that lasted from early November to early December.

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Manufacturing And Mining Suffer, Utilities Show Growth

The manufacturing sector recorded a 6.1% year-on-year decline in November, while mining and quarrying saw an even sharper contraction of 23.6%. Conversely, some industries posted gains, with water supply and materials recovery increasing by 11.4%, and electricity supply rising slightly by 0.7%.

Within manufacturing, the strongest growth came from machinery and equipment production, including motor vehicles and transport equipment (up 13.7%), rubber and plastic products (up 7.5%), and electronic and optical products (up 6.9%).

However, significant downturns were observed in non-metallic mineral products (down 44.2%), paper products and printing (down 18%), and furniture manufacturing and machinery repair/installation (down 14.4%).

Year-to-Date Performance Shows Overall Growth

Despite November’s decline, industrial production for the period January–November 2024 remained positive, registering a 2.8% increase compared to the same period in 2023.

The most notable year-to-date growth was recorded in water collection, treatment, and supply (up 22.8%), electronic and optical products manufacturing (up 12.2%), and machinery and transport equipment production (up 9.9%). Mining and quarrying, which showed a steep drop in November, still recorded an 8% increase over the 11 months.

On the downside, paper products and printing (down 11.7%), non-metallic mineral products (down 4.9%), and textiles, apparel, and leather goods manufacturing (down 4.5%) were among the hardest-hit industries.

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FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

by THEFUTURE.TEAM

September 11, 2025

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

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Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.