Cyprus Business Now

Representatives of the world’s major investment funds and managers are expected to convene in Limassol, Cyprus, from October 23 to 25 for the 36th Annual International Investment Funds Association (IIFA) conference.

According to a statement from the Cyprus Investment Funds Association (CIFA), which represents Cyprus within the International Association, this particular conference is taking place in Cyprus for the first time after targeted efforts. It is considered one of the top international forums for the sector.

Andreas Yiassimides, President of CIFA, expressed his satisfaction with Cyprus hosting the 36th IIFA conference, stating that “this is a great honour for CIFA and its members, as it represents a significant event and a first-rate opportunity for Cyprus to showcase itself as a destination for Investment Funds and managers”.

“The conference participants come from all corners of the globe, and we couldn’t have a better opportunity to promote our country as an investment destination and an international business centre,” he added.

The statement further notes that the International Investment Funds Association has members from 40 countries, including the United States, Canada, India, Japan, South Korea, and EU member states. Its contribution to the communication of critical issues concerning Investment Funds globally is considered crucial.

Furthermore, the IIFA gathers industry stakeholders for discussions and the exchange of opinions on matters of common interest, and the views expressed are of significant importance. The total assets under management of its members are estimated to exceed 70 trillion US dollars.

“The preparations for the conference, which is exclusively open to IIFA members, have been ongoing for months, and the interest from both participants and speakers is said to be substantial”, the statement concluded.

The Cyprus Employers & Industrialists Federation (OEB) has extended an invitation to an educational seminar titled “The Upskilling Strategy: Organisational Growth through Employee Development.” The seminar is scheduled for October 4 and 5, 2023, at the Hilton Nicosia Hotel in Nicosia.

Bill Lewis, the programme instructor, will conduct the sessions in English. This programme has received approval from the Human Resource Development Authority as a vital initiative and is fully funded by the authority, which means there will be no financial burden on participating businesses or organisations.

To be eligible to participate in the programme, registration of both the business and the participant (employee) on the “ERMIS” digital platform of the Human Resource Development Authority is mandatory.

For those who have already registered, participation can be confirmed through this link with the following Programme ID: #148712.

If you haven’t registered yet, please complete and submit the participation declaration provided before September 20, 2023.

The federation will then contact you to provide further details and guide you through the registration process on the “ERMIS” digital platform.

For more information, you can reach out to OEB via phone at +357 22 643000 or via email at [email protected] and [email protected].

This seminar aims to equip businesses with the strategies and tools needed to promote growth through employee development, reflecting the federation’s commitment to supporting the development of Cyprus’s workforce and organisations.

The Let’s Help Foundation, led by its founders Konstantia and Sotiris Pittas, along with esteemed lawyers Andreas Andreou and Kostas Komodromos, continues its tangible support for students at the Cyprus University of Technology (Tepak).

In a modest ceremony held on Monday, September 18, at the office of the University’s Rector, Professor Panagiotis Zaphiris, seven scholarships worth €1,000 each were awarded to outstanding Tepak students based on excellence and socio-economic criteria.

During the ceremony, the sponsors had the opportunity to engage with the students and share their own experiences, from education to professional success. They congratulated the students on their achievements and encouraged them to persist in their academic journeys, despite any challenges, at the same high level.

The President of the Let’s Help Foundation, Aksentis Zemenides, expressed gratitude to the Let’s Help Foundation and Mr. Andreas Andreou and Kostas Komodromos. He expressed hope that more individuals would emulate the significant work they are doing.

Moreover, the rector thanked the Let’s Help Foundation as well as Andreas Andreou and Kostas Komodromos. He acknowledged their multifaceted and meaningful contribution to Cypriot society, serving as examples of integrity, personal responsibility, and solidarity.

Actions such as these, he added, imbue meaning into values that a society, grappling with economic and ethical crises, tends to forget.

In conclusion, the Rector stated that “each act of contribution, beyond its practical significance, carries an educational function as an example of solidarity and respect for fellow humans and the community”.

The Cyprus Stock Exchange (CSE) ended Wednesday, September 20 with negligible profits.

The general Cyprus Stock Market Index was at 132.17 points at 15:00 during the day, reflecting an increase of 0.02 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 80.22 points, representing a rise of 0.02 per cent.

The total value of transactions came up to €125,432.

In terms of the sub-indexes, the main and investment firm indexes remained stable, while the hotel and alternative indexes rose by 1.56 per cent and 0.19 per cent respectively.

The biggest investment interest was attracted by the Bank of Cyprus (no change), Hellenic Bank (no change), the Cyprus Cement Company (+1.56 per cent), and Demetra (no change).