Addressing the third annual event for Cyprus’ EU recovery and resilience plan, Keravnos said Cyprus had already applied for a fourth grant from the EU mechanism and was preparing to apply for a fifth.
Speaking in the presence of director general of the recovery and resilience task force (Recover) at the European Commission Céline Gauer, Keravnos referred to the recent assessment of Cyprus, which paves the way for the second and third installment of the grant.
He added that Cyprus submitted an application for a fourth grant in July 2024, which would bring the grants since 2021 up to €500 million, which translates into about 50 per cent of the total grant for Cyprus.
The next aim, Keravnos said, was to submit an application by the end of the year for a fifth grant of €120 million.
In addition, the number of management companies and undertakings of collective investments (UCIs) under supervision remained steady at 328 during the same period.
According to CySEC’s quarterly statistics bulletin, the current number of 328 UCIs marks a slight decline from 334 in the same period of 2023, representing a 1.8 per cent drop.
These entities include 226 externally managed UCIs, 33 internally managed UCIs, and 69 external fund managers.
Moreover, of the total number of management companies, 44 are alternative investment fund managers (AIFMs), 50 are sub-threshold AIFMs, 3 are UCITS management companies, and 5 hold dual licenses as both AIFMs and UCITS managers.
The total AUM increased to €9.4 billion in the second quarter, but when compared to the same period in 2023, it shows a 12.8 per cent decrease.
At a press conference on Tuesday, Deputy Minister of Shipping Marina Hadjimanolis and Limassol Mayor Yiannis Armeftis encouraged the public to attend the event, which has become a cherished fixture in Cyprus’s cultural calendar.
Speaking at an event held at the Limassol municipality, Hadjimanolis expressed gratitude to the 43 institutions and organisations supporting the festival, each committed to raising awareness on the critical role of shipping, ports, and the blue economy in Cyprus.
“A great effort has been made to involve all academic institutions, including maritime academies, that offer maritime and shipping curricula in Cyprus,” she said, “in order to properly inform our young people about the prospects of maritime and shipping professions and the blue economy”.
The MoU was signed during Deputy Minister Nicodemos Damianou’s official visit to Dubai, accompanied by Chief Scientist for Research, Innovation, and Technology Demetris Skourides.
Damianou expressed enthusiasm for the agreement, saying, “We are excited to be entering this promising partnership with Khazna, the largest data centre operator in the United Arab Emirates (UAE), and a prominent member of the renowned G42 conglomerate.”
He added that the collaboration aims to position “Cyprus as a key player in the global digital landscape,” laying the groundwork for further cooperation across various sectors with G42.
The Bank of New York is one of the correspondent banks with which the Bank of Cyprus works for US dollar transactions.
The award was given in recognition of the fact that nearly 100 per cent of payments were processed through Straight Through Processing, without the need for any non-automated intervention on the part of the Bank of New York.
This highlights the continued growth of its popular gaming franchises, including Hero Wars, Island Hoppers, and Pixel Gun 3D.
The company, listed on NASDAQ, reported strong performance across its subsidiaries Nexters and Cubic Games, which together have surpassed 550 million installs and generated $2.5 billion in bookings overall.
In Q2 2024, GDEV achieved strong financial results, generating $108 million in bookings. The company’s investment of $47 million in user acquisition supported this growth, resulting in an adjusted EBITDA of $16 million.
Recent initiatives aim to promote Larnaca to international audiences, highlighting its marine attractions and local culture.
One of the most notable partnerships involved Sophia Hadjipanteli, a globally recognised influencer with over 1.5 million followers.
As part of the ‘Ocean of Threads’ project, Hadjipanteli visited Larnaca to promote its marine life and raise awareness about environmental sustainability. The project, organised in collaboration with artist Michalis Pantelides and the department of fisheries and marine research, also included an underwater art exhibition at the LEF1 wreck in Larnaca’s marine protected area. The exhibition, open to divers, will run until the end of the year.
Aquaculture involves the breeding, raising, and harvesting fish, shellfish, and aquatic plants.
The €33.9 million project aims to maintain the viability of the island’s aquaculture sector and its further sustainable development and expansion.
It is slated for completion in 27 months.
The Cyprus Stock Exchange (CSE) ended Tuesday, October 15 with losses.
The general Cyprus Stock Market Index was at 196.29 points at 12:26 during the day, reflecting a decrease of 1.75 per cent over the previous day of trading.
The FTSE / CySE 20 Index was at 119.64 points, representing a drop of 1.77 per cent.
The total value of transactions came up to €35,237, until the aforementioned time during trading.
In terms of the sub-indexes, the main, alternative and investment firm indexes fell by 2.21 per cent, 0.29 per cent and 4.17 per cent respectively. The hotel index remained unchanged.
The biggest investment interest was attracted by Vassiliko Cement Works Public Company (-0.58 per cent), Hellenic Bank (-1.52 per cent), the Cyprus Cement Company (no change), Demetra (-4.23 per cent), and Logicom (-1.36 per cent).
