Cyprus Business Now

Students from the Paphos Technical School won first prize among their peers for creating and implementing the best innovative business idea in the ‘Ideodromio – Creativity, Innovation and Business Idea’ programme.

The programme was held in collaboration with the Cyprus Pedagogical Institute, the Centre for Entrepreneurial Development, Alliance & Research (Cedar), UCLan Cyprus, KPMG Cyprus, startup support organisation Gravity, as well as the Synthesis centre for research and education.

The students’ project, called Loud & Clear, involved the creation of an application designed to help people with hearing problems.

The application allows sign language interpreters to translate audio, both in everyday scenarios, as well as in more specialised settings, for deaf people or the hard of hearing.

“The inclusion of people with disabilities is important and contributes, on an individual and collective level, to both the social and moral spheres,” a statement by the competition organisers said.

“Through the Ideodromio programme, students were given a unique opportunity to explore different paths, to think outside the box, appreciate the value of innovation and the benefits of entrepreneurship, gaining unique life experiences, that will surely accompany them in their later careers,” the statement added.

Quality Group CEO Savvas Kakos on Thursday said that Larnaca has always had the potential for great development, and it can shine further over the next few years.

“We have always believed in the huge prospects of Larnaca, and with this vision, Quality Group has invested with dedication for 30 years in the region,” Kakos told local media outlet InBusiness.

“With the upgrade of the city, we expressed the belief that it will develop into an excellent investment destination and that in the decade 2020-2030 it could become the new Monaco of the Eastern Mediterranean,” he added.

Kakos also said that the city has numerous advantages, such as thousands of years of history, an airport, a marina, a port and a coastline spanning 12 kilometres in length.

“These elements, I believe, are attracting increased interest from both private individuals and large investment funds, making Larnaca a top investment destination,” Kakos concluded.

The Cyprus Stock Exchange (CSE) ended Thursday, April 28 with profits.

The main Cyprus Stock Market Index was at 69.98 points at 12:58 during the day, reflecting a rise of 0.01 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 41.49 points, remaining stable from the day before.

The total value of transactions came up to €51,748.

In terms of the sub-indexes, the main and investment firm indexes fell by 0.21 per cent and 2.39 per cent respectively.

Meanwhile, the alternative index rose by 0.08 per cent, while the hotel index also increased by 0.46 per cent.

The biggest investment interest was attracted by the Cyprus Cement Company (-0.83 per cent), the Bank of Cyprus (+1.47 per cent), Hellenic Bank (-0.52 per cent), Atlantic Insurance (no change) and Logicom (no change).