Cyprus Business Now

Professional services firm Deloitte recently celebrated 65 years of its successful presence in Cyprus, according to an official announcement released this week.

The significant milestone was commemorated during a special event held on November 2, attended by Deloitte Cyprus partners and staff.

During the event, Pieris Markou, Chief Executive Officer of Deloitte Cyprus, extended his gratitude to the company’s dedicated professionals for their unwavering commitment to professionalism, service quality, and strong ethos.

He expressed his pride in the firm’s journey, which began as a small business in 1958 and has since evolved into one of the largest professional services providers in Cyprus.

Deloitte Cyprus now serves clients locally and internationally, boasting a team of approximately 750 experts.

Reflecting on the firm’s remarkable growth over the decades, Markou emphasised that the principles and values that have been the cornerstone of Deloitte’s legacy continue to be an integral part of the company’s corporate culture.

Regarding Deloitte’s vision for the future, Markou mentioned that “our past is our guiding path for the future as we continuously adapt to the needs of the market and of our society, while maintaining the foundations we inherited and built over the years, the values and the professionalism that characterise us”.

“We aspire to maintain our leading role in the economic matters of our country, aiming to improve the business environment with innovative initiatives, as well as in corporate social responsibility, supporting local communities and the wider society in order to create a more sustainable future for all,” he added.

Markou continued by saying that he is “confident in Deloitte Cyprus’ prospects and future as the organisation of choice, both by young talent and by clients”.

Moreover, Markou expressed his thanks to past and current employees who “work tirelessly, upholding the values and vision of the firm, and have positioned Deloitte as a leader in its sector”.

He explained that this is a crucial period of constant changes across the globe and unprecedented changes in the world of work.

“Our people have proven time and time again that they can adapt to the future of work and any challenges coming our way,” Markou concluded.

Consulting and advisory firm EY Cyprus recently announced the launch of the EY Academy of Learning and Development, during an event held on November 2, 2023, at Lemon Park in Nicosia.

According to the announcement, the EY Academy of Learning and Development serves as a collaborative learning hub for all business lines in EY to work closer with clients on their learning initiatives.

The academy will provide a broad range of services in three areas – training solutions, digital learning solutions and capability building.

In addition, the event allowed the company to showcase its brand-new EY building in Nicosia, which is equipped with state-of-the-art multi-purpose training rooms, where many of the EY Academy of Learning & Development seminars will be held.

Moreover, the company explained that the “EY Academy of Learning and Development is set to reshape the landscape of professional development, by focusing on the critical role of continuous learning and skill enhancement”.

The official launch event was attended by a prestigious gathering of EY clients and leading executives from Cyprus-based companies, including CEOs, CFOs, and Heads of HR.

The event commenced with an opening speech by the Minister of Labour and Social Insurance Yiannis Panayiotou, who applauded EY’s visionary initiative.

The minister emphasised the imperative need for lifelong learning and the constant upgrade of skills to confront the global challenge of labour shortages.

Christine E. Kowal, Director of EY Academy of Learning & Development, extended a warm welcome to the attendees and expressed deep gratitude for their support in introducing this transformative educational platform to Cyprus.

Panayiotis Thrasyvoulou, Partner, Head of People Advisory Services, and Partner in charge of EY Academy of Learning and Development at EY, offered insights into the driving force behind EY’s investment in this field. He outlined the strategic importance of learning, both for EY’s clients and the broader community of Cyprus, particularly within the context of the evolving nature of work.

Thrasyvoulou noted that “in a world that is evolving at an unprecedented pace, providing our people with the modern skills necessary to navigate forthcoming challenges is pivotal to success”.

“The rapid advancement of technology, coupled with an ever-changing legal and regulatory landscape, renders continuous learning and upskilling an absolute necessity,” Thrasyvoulou said.

“As part of our unwavering commitment to building a better working world, we are thrilled to unveil today a dedicated platform that will empower our clients and their teams to not merely adapt but to thrive and excel,” he added.

Meanwhile, Philippos Raptopoulos, Partner, and Head of EY Tax & Legal Services, shared his enthusiasm for this transformative journey, saying that “the EY Academy of Learning and Development exemplifies EY’s dedication to nurturing talent, fostering growth, and driving innovation”.

“By investing in our people and our community, we are building a brighter future for all,” he concluded.

The Cyprus Stock Exchange (CSE) ended Tuesday, November 7 with losses.

The general Cyprus Stock Market Index was at 127.45 points at 12:45 during the day, reflecting a decrease of 0.61 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 77.20 points, representing a drop of 0.64 per cent.

The total value of transactions came up to €121,287.

In terms of the sub-indexes, the main, investment firm and alternative indexes fell by 0.63 per cent, 2.25 per cent and 0.84 per cent respectively. The hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (-0.34 per cent), Demetra (-2.34 per cent), Salamis Tours (-6.95 per cent), the Cyprus Cement Company (no change), and Vassiliko Cement Works Public Company Ltd (no change).