Cyprus Business Now

The first phase of a scheme to transition hotel businesses to a circular economic model has begun in Cyprus, aimed at strengthening their competitiveness and resilience through sustainable practices.

The initiative, which is part of the National Recovery and Resilience Plan and overseen by the Employers and Industrialists Federation (Oev), will see 50 hotels and tourist accommodations across the country trained in reducing energy consumption, food waste and waste production.

Moreover, twenty of the participating hotels will also be eligible for gold certification under a new circular economy certification scheme, which will be developed based on the applicable standard, as implemented by the International Organisation for Standardisation (ISO).

Andri Demetriadou, the federation’s director of energy and environment, this week spoke to Cypriot business outlet Stockwatch about the scheme, stating that the participating hotel companies will benefit from training, diagnostic assessment, business coaching, monitoring and certification services.

This will enable them to implement circular practices, save resources and protect the environment, as well as being able to prepare investment financing plans for the transition to the circular economy.

What is more, according to Demetriadou certification under the scheme will enable compliance with the existing and upcoming legislative framework for the circular economy, while also creating a competitive advantage in the hotel business.

Finally, according to information released so far, the scheme is set to be fully implemented by 2026, with five three-day educational workshops already completed as part of the initial phase.

The recent turmoil in the global financial system has raised concerns over a possible domino effect, causing businesses and investors to seek safe havens for their deposits and alternative ways of securing funding, according to Consulco Group’s director of investment services Michael Tannousis.

In a recently-released article, Tannousis explained that the bridging loan and alternative investment sectors have grown in recent years due to the tightening of lending criteria and the failure of conventional investment options to generate significant returns.

In this context, Consulco, a Cypriot company with experience in investment management in the UK, has moved to offer high investment returns through the London Credit Fund.

The fund invests in short-term investment loans in the UK, secured against properties in London, and provides fixed returns of more than 4 per cent on the euro and more than 5 per cent on the sterling and dollar over a short-term horizon of 12 months.

Tannousis noted that the minimum investment is €125,000, with a minimum lock-up term of 12 months.

In addition, he stated that the London Credit Fund represents an ideal choice for investments in London with stable yields at relatively low risk, against today’s general climate of volatility and uncertainty.

Finally, he noted that despite Brexit, the Covid-19 pandemic, and high inflation and interest rates, the profits and dividends of London credit investors have remained stable over the past 12 years.

Cyprus’ National Betting Authority recently took a creative approach to promote safe gambling by designing an interactive and engaging game at the Mall of Cyprus.

The aim of the campaign was to inform the public about the harmful consequences of excessive gambling and to promote self-protection measures.

To attract the attention of passers-by, the National Betting Authority disguised the game as one of the mall’s advertising screens.

The game featured two live actors in a specially designed room, holding a sign that read “want to play a game”.

When the audience realised that the screen was not a simple poster, but a person, the game began.

Players answered quiz questions and had the chance to win well-known board games and other exciting prizes.

For some lucky players, the game continued beyond the quiz, as surprise gifts such as footballs and giant bears were distributed by a parade of musicians, stilt walkers, and fairy tale heroes.

What is more, the campaign was designed to be both enjoyable and informative, with the game questions emphasising the risks of excessive gambling and the importance of self-protection measures.

The National Betting Authority also provided information on how to help and treat pathological gambling, with the subsequent press release inviting people to visit their dedicated website about safe gambling.

According to the announcement, by using this innovative approach, the National Betting Authority successfully conveyed important messages about the safeguarding of safe gaming.

Finally, the authority said that the campaign stressed the importance of promoting safe gambling not only to young people but also to society at large.