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The Cyprus Chamber of Commerce and Industry (Keve) has announced that its member organisation, the Cyprus E-Mobility Association, welcomes the announcement of the electric mobility promotion plan by the Ministry of Transport, Communications, and Works.

The association said that the inclusion of the electric vehicle subsidy plan will commence on Saturday, February 17, 2024.

“This initiative by the Republic of Cyprus marks a crucial step towards a greener and more sustainable transportation system, contributing significantly to the reduction of pollutant emissions and carbon dioxide,” the association said.

“It underscores the importance of preserving the environment and public health,” it added.

Furthermore, the association explained that the adoption of electric vehicles contributes to a decrease in fuel costs and diversifies energy sources, fostering a more independent and sustainable energy system.

This, in turn, positions the development and innovation sector as a cornerstone for the local economy.

The association also underscored the positive impact of embracing electric vehicles on both environmental and economic fronts.

As the subsidy plan kicks off, people are encouraged to explore the benefits of electric vehicles, not only for the well-being of the planet but also for economic growth and innovation within the local community.

Finally, the move aligns with global efforts to transition towards cleaner and more sustainable transportation solutions.

 

A meeting was held last week at the Environmental Information Centre of Larnaca Mountainous Area, involving nine partners from six countries, including Cyprus, participating in the REVIVE project.

This initiative takes the lead in developing innovative entrepreneurial models in Mediterranean rural areas.

Since January 2024, the regional development companies for both Larnaca and Famagusta have been actively engaged in the REVIVE project as the coordinating partner.

The project, with a budget of €2,380,000, was approved under the Interreg Euro-Med programme.

The project involves a total of nine partners from six countries, namely Cyprus, Italy, Greece, Spain, Slovenia, Croatia, and North Macedonia.

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The kickoff of the project took place on Wednesday, February 7, at the Environmental Information Center of Mountainous Larnaca.

During the meeting, partners discussed the implementation of the project. On Thursday, February 8, the partners visited the Lumina Botanical Gardens in Kornos and participated in experiential activities.

According to the announcement, “the REVIVE project takes a significant initiative in developing innovative entrepreneurial models in rural areas with the aim of promoting sustainable economies and accelerating the transition towards competitive, sustainable, and resilient ecosystems in Mediterranean rural areas”.

The project employs a participatory approach and capacity development to address challenges faced by Mediterranean rural areas, such as desertification, low economic activity, lack of employment opportunities, absence of digital skills, difficulties in preserving cultural and environmental heritage, and limited cooperation and networking among local businesses and entities.

In this context, project partners collaborate to establish Innovative Community Cooperatives, aiming to develop collaborative economic models and produce products and services that enhance existing economic activities in rural areas.

Additionally, the services of the Mediterranean Digital Innovation Hubs will be utilised to strengthen the digital skills required for adopting advanced technologies.

It is worth noting that “inter-country collaboration and coordination among partners from various Mediterranean countries are significant elements of the project, allowing the exchange of best practices and finding solutions to common challenges faced by rural areas in the Mediterranean”.

The REVIVE project marks a crucial step towards fostering sustainable development and resilience in the region’s rural economies.

 

The Cyprus Stock Exchange (CSE) ended Monday, February 12 with losses.

The general Cyprus Stock Market Index was at 140.15 points at 12:54 during the day, reflecting a decrease of 0.31 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 85.12 points, representing a drop of 0.32 per cent.

The total value of transactions came up to €213,957.

In terms of the sub-indexes, the main and alternative indexes fell by 0.42 per cent and 0.04 per cent respectively. The hotel index remained unchanged while the investment firm index fell by 1.14 per cent.

The biggest investment interest was attracted by the Bank of Cyprus (-0.58 per cent), Hellenic Bank (no change), Salamis Tours (-0.58 per cent), Louis PLC (+1.92 per cent), and the Cyprus Cement Company (-1.44 per cent).

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