Cyprus Business Now

In a strategic collaboration with the Ministry of Energy, Commerce, and Industry, the Cyprus Chamber of Commerce and Industry (Keve) is set to host a presentation on a funding scheme that seeks to promote energy upgrades and boost the competitiveness of large enterprises.

Scheduled for Friday, March 8, 2024, at 12:00, the event will take place on the 1st floor of the Keve headquarters in Nicosia, featuring key experts from the Energy Ministry who will delve into the intricacies of the funding scheme.

Attendees will have the unique opportunity to gain valuable insights and pose questions directly to the competent Officers of the Ministry of Energy, Commerce, and Industry.

The Funding Scheme, with a substantial allocation of €750,000 per enterprise, is designed to bolster and advance the growth of Large Enterprises. The financial support is earmarked for specific eligible costs related to energy-saving investments in buildings, facilities, and equipment. Moreover, it aims to facilitate the transition of businesses towards adopting a circular model.

The scope of the scheme is broad, with a focus on supporting, developing, and upgrading both new and existing Large Enterprises in Cyprus. Whether established or in the process of formation, enterprises meeting the criteria are eligible to benefit from this groundbreaking initiative.

To ensure broad participation, interested parties are urged to register for the presentation no later than Monday, March 4, 2024.

In a bid to foster innovation in the fintech sector, the Visa Innovation Programme Europe 2024 has opened its doors for applications from both start-ups and scale-ups in the FINTECH space. 

The Acceleration and Development Programme aim to propel innovative products and services quickly into the market. Interested parties have until March 4, 2024, to submit their applications.

The programme, designed by Visa in collaboration with Eleven and Hackquarters, extends opportunities for fintechs, offering collaboration prospects with potential clients and partners across Visa’s global network.

It also provides networking opportunities with the industry, access to global venture capital, and angel investors through concise pitching sessions.

Participants can benefit from mentorship, knowledge exchange, and best practices from a network of experienced professionals and advisors, including representatives from Visa, Eleven, Hackquarters, Endeavor (the partner for Cyprus, Greece and Malta), Finnovating, Portugal Fintech Association, Talent Garden, and experts from the global fintech industry and specialised banks.

The Visa Innovation Programme Europe 2024 specifically seeks innovative fintechs addressing challenges such as Artificial Intelligence in next-gen payment experiences, integration of financial services into non-financial platforms, capital movement, and sustainable, inclusive development.

Applicants are encouraged to provide market-tested solutions in one or more of these sectors. The application process is straightforward, taking only a few minutes, and interested fintechs can apply here.

Successful applicants will be notified by the end of March regarding their participation in the next phase of the programme.

For more information and answers to potential queries, please visit the Visa Innovation Programme Europe website or refer to the Frequently Asked Questions section.

For inquiries, you can contact the programme organisers at 22889749/52/69 or via email at [email protected].

The Cyprus Stock Exchange (CSE) ended Wednesday, February 28 with losses.

The general Cyprus Stock Market Index was at 143.10 points at 13:17 during the day, reflecting a decrease of 0.37 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 86.93 points, representing a drop of 0.39 per cent.

The total value of transactions came up to €174,734.

In terms of the sub-indexes, the main index, investment firm and hotel indexes fell by 0.79 per cent, 3.27 per cent and 0.26 per cent respectively. The alternative index rose by 0.34 per cent.

The biggest investment interest was attracted by Vassiliko Cement Works Public Company (+1.24 per cent), Lordos Hotels (no change), Demetra (-3.33 per cent), Hellenic Bank (+0.42 per cent), and the Bank of Cyprus (-0.29 per cent).