Cyprus Business Now

Cypriot lender CDB Bank announced on Thursday that it actively supports Cyprus’ endeavours to attract investment funds, serving as a Silver Sponsor at the 9th International Funds Summit & Expo held in Limassol on October 23-24.

This conference, with the theme “Insights for 2024 and beyond,” attracted more than 550 industry professionals, financial institutions, government officials, and representatives of investment funds from various international destinations.

Distinguished speakers presented various topics, including the significant investment opportunities Cyprus offers in the field of investment funds, new prospects opening up for the Cypriot economy, and all developments related to the regulatory framework.

The event was organised for the ninth consecutive year by the Cyprus Investment Funds Association (CIFA) and Invest Cyprus, under the auspices of the President of the Republic of Cyprus Nikos Christodoulides, and the Cyprus Securities and Exchange Commission (CySEC).

During the summit, attendees had the opportunity to visit the bank’s exhibition area, engage in discussions with the bank’s specialised members of staff, and gather insights about the financial services it provides in the investment funds and asset management sector.

In his statement, Michalis Michael, the Director of International Banking at the bank, addressed the contemporary challenges facing the investment fund industry, such as unpredictable geopolitical developments, the need for digital transformation, and the legislative framework that, as he noted, requires improvement to further develop the sector in Cyprus.

Finally, the announcement noted that the bank’s active involvement as a silver sponsor at the conference highlights its commitment to promoting Cyprus as an attractive destination for investment funds.

The University of Cyprus (UCY) is among the top universities in the Times Higher Education international ranking by the scientific field for 2024, according to a publication released on Thursday.

The university used a public statement to note that it is among the leading university institutions worldwide in nine out of a total of eleven scientific fields that are evaluated in the report.

Specifically, the University ranks 201-250 in the fields of education, clinical and health, ranks 301-400 in the field of psychology, ranks 401-500 in the fields of arts and humanities, social sciences, physical sciences and computer science, ranks 501-600 in the field of engineering and ranks 601-800 in the field of business and economics.

What is more, the university noted that this success follows the recent inclusion of the University among the 501-600 positions worldwide in the Times Higher Education World University Rankings.

“We have achieved a lot since the establishment of the University of Cyprus and this is partially reflected in our ranking in all prestigious international rankings,” University of Cyprus rector Tasos Christofides.

“We are aware of the challenges and we are trying to respond to them by having absolute confidence in the human resources of the first public academic institution of our country”, he added.

The Higher Education Department of the Ministry of Education, Sport, and Youth in Cyprus is set to conduct the inaugural National Employers Skills Survey in January 2024.

A relevant announcement explained that this survey is a vital component of the Republic of Cyprus’ Recovery and Resilience Plan, aimed at fostering stronger connections between higher education and the country’s labour market.

To ensure the success of this initiative, the ministry will be reaching out to employers across various sectors of the Cypriot economy, seeking their active participation in the survey.
Those selected to participate will be asked to complete a brief online questionnaire, providing valuable insights into the skill requirements and needs of the Cypriot labour market.

The survey aims to bridge the gap between the Higher Education Institutions of Cyprus and the business community, enhancing the alignment of their curricula with the evolving needs of the job market.

Employers are urged to participate and can find more information about the National Employers Skills Survey by clicking here.

Furthermore, employers are kindly requested to submit their business details, including the business name and postal code, as registered in the Business Register of the Cyprus Statistical Service (Cystat), along with an email address for communication purposes.

This information is to be submitted by Friday, November 24, 2023, through the following link.

The Cyprus Stock Exchange (CSE) ended Thursday, October 26 with losses.

The general Cyprus Stock Market Index was at 126.20 points at 13:03 during the day, reflecting a decrease of 0.21 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 76.46 points, representing a drop of 0.21 per cent.

The total value of transactions came up to €62,740.

In terms of the sub-indexes, the main and alternative indexes fell by 0.13 per cent and 0.39 per cent respectively. The hotel and investment firm indexes remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (-0.34 per cent), the Cyprus Cement Public Company (-3.17 per cent), Atlantic Insurance (no change), Blue Island (no change), and Louis PLC (-1.4 per cent).