Cyprus Business Now

Cyprus’ Research and Innovation Foundation (Idek) is set to host a pioneering Partner Day on Friday, February 9, at the Hilton Hotel in Nicosia.

Under the theme “Innovation, Collaboration, Development,” the event aims to showcase opportunities within the realms of Research and Innovation for the economy, society, and the Cypriot business landscape.

The event, endorsed by Dimitris Skourides, Head Scientist for Research, Innovation, and Technology of the Republic of Cyprus, will commence at 8:30 AM and run until 1:00 PM.

Moreover, opening remarks will be delivered by Nicodemos Damianou, Deputy Minister of Research, Innovation, and Digital Policy.

The Partner Day, with its focus on “Innovation, Collaboration, Development,” intends to present key policies, actions, prospects, and opportunities emerging in the fields of research and innovation in Cyprus.

The overarching goal of the event is to underscore the role and significance of research and innovation for the economy and citizens, foster the exchange of ideas to strengthen and further leverage the potential of the Cypriot ecosystem, and encourage the business community to invest further in research and development activities.

Throughout the day, Theodoros Loukaidis, Director General of Idek, will showcase the foundation’s major funding programmes and moderate a roundtable discussion on the importance of connecting research with the industry.

At the same time, thematic workshops, scheduled from 11:00 AM to 1:00 PM, will feature the participation of state officials, entrepreneurs, representatives from startups, and professionals from research and academic institutions.

The workshops will cover the applications of information and communication technologies; energy, green development, and environment; health sciences; as well as shipping and the blue economy.

For the complete event schedule and participation details, interested individuals can visit the event’s website: https://innovationpartnerday.cy

Hellenic Bank this week announced that it has issued a Human Rights Statement as part of its broader Environmental, Social, and Governance (ESG) strategy.

The bank said that it remains committed to respecting and promoting human rights within the framework of its operations.

The bank’s management approved the Human Rights Statement, guided by the principles outlined in the Universal Declaration of Human Rights (UDHR), the International Covenant on Economic, Social, and Cultural Rights (ICESCR), and the International Covenant on Civil and Political Rights (ICCPR).

This declaration takes into consideration the “Protect, Respect, and Remedy” framework of the United Nations Guiding Principles on Business and Human Rights (UNGP), outlining the responsibilities of states and businesses in protecting and respecting human rights.

Within this framework, the bank identified its personnel, customers, and collaborators as the primary stakeholders concerning human rights.

The approach to be followed for these stakeholders was determined based on the organisation’s policies and business activities.

Specifically, regarding the bank’s personnel, the principles of the statement encompass the following:

• The value of diversity in all its forms, creating a discrimination-free environment.
• High standards for Health & Safety and working conditions.
• A policy for confidential reporting of concerns that ensures protection from any form of retaliation.
• Prevention of any form of harassment in the workplace, with a firm stance that such behaviour is unacceptable and intolerable.

Concerning customers, the principles include:

• Providing sustainable lending policies with clear categories for green and social financing.
• Maintaining a list of prohibited lending, excluding activities directly or indirectly linked to human rights violations.
• Conducting ESG assessments of customers as part of their broader evaluation.
• Incorporating ESG parameters in the assessment and approval of new products.

Furthermore, even in the selection of suppliers, the bank said that it always considers ESG performance parameters. 

The Human Rights Statement is available on the bank’s website.

The Cyprus Stock Exchange (CSE) ended Thursday, January 25 with minor profits.

The general Cyprus Stock Market Index was at 136.94 points at 13:01 during the day, reflecting an increase of 0.32 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 83.13 points, representing a rise of 0.36 per cent.

The total value of transactions came up to €37,324 until the aforementioned time during trading.

In terms of the sub-indexes, the main and investment firm indexes rose by 0.54 per cent and 0.67 per cent respectively. The hotel and alternative indexes remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-0.3 per cent) Alkis H. Hadjikyriacos Public Limited (+5.07 per cent), Hellenic Bank (+0.44 per cent), and Atlantic Insurance (no change).