Cyprus saw a wave of advancements this week: Journey Mentor appointed Paul Sies as CEO, Travel Expo Cyprus 2024 uplifted tourism hopes, Commonwealth Ocean Ministers Meeting prioritized ocean protection, and Neapolis University excelled at ICPC. Real estate and financial markets showed varied trends, while Keo reported increased profits. President Nikos Christodoulides endorsed ‘Vision 2035,’ aiming for Cyprus’ bright future.
What are the recent business, tourism, and sustainability developments in Cyprus?
Cyprus has made significant strides in various sectors:
– Journey Mentor appointed Paul Sies as CEO.
– Travel Expo Cyprus 2024 sparked optimism for tourism.
– Hosted the Commonwealth Ocean Ministers Meeting focusing on ocean protection.
– Achievements in academics with Neapolis University’s ICPC participation.
– Reflect Festival returns to Limassol for its 7th edition.
– €17 million energy grant scheme announced by the Ministry of Energy.
– Bank of Cyprus issued €300 million in green bonds.
– Real estate shows mixed trends, while Keo beverage company reports increased profits.
– Cyprus Stock Exchange accepts government bonds to strengthen financial markets.
– President Nikos Christodoulides endorses ‘Vision 2035′ for Cyprus’ future.
Journey Mentor Welcomes New Leadership
The business community in Cyprus witnessed significant movements this week, starting with a noteworthy change at Journey Mentor. The United Kingdom-based travel-tech company, dedicated to providing comprehensive services for the travel industry, announced the appointment of Paul Sies as president and chief executive officer. Sies, the former CEO of Cyprus Airways, brings in-depth knowledge and experience to his new role at Journey Mentor, where he will oversee strategies involving search and booking technologies, as well as inventory management solutions aimed at enhancing the operations of small to medium-sized travel entities.
Travel Expo Cyprus 2024 Sparks Optimism
Amidst the bustling business activities, the Travel Expo Cyprus 2024, spearheaded by the Association of Cyprus Travel and Tourism Agents (ACTA), marked the beginning of a hopeful tourist season. The event, which took place from April 19 to 21, gathered 45 exhibitors and influential figures, such as Deputy Minister of Tourism Kostas Koumis and the Ambassador of Greece to Cyprus Ioannis Papameletiou. Their participation, along with ACTA President Charis Papacharalambous, signified a collective aspiration for a vibrant future in Cypriot tourism.
Cyprus Hosts Commonwealth Ocean Ministers Meeting
The island also played host to the inaugural Commonwealth Ocean Ministers Meeting, reflecting its growing stature on the international stage. With an eye on sustainability and environmental preservation, delegates from across the Commonwealth engaged in discussions focused on ocean protection. The Commonwealth Blue Charter, a key component in these talks, sets the stage for the proposed Commonwealth Ocean Declaration anticipated for adoption at the upcoming Commonwealth Heads of Government Meeting in Samoa. This event precedes yet another significant summit, COP29, where global leaders will address climate change concerns.
Academic Achievements and Global Engagements
The spotlight shone brightly on the academic sector as well, with Demetris Skourides, Cyprus’ Chief Scientist, leading a group of exceptional students from the Neapolis University of Paphos to Luxor, Egypt. Their participation in the final round of the ICPC competition marked an unprecedented achievement for a Cypriot university team, showcasing the country’s educational prowess.
In the realm of entrepreneurship and technology, the Reflect Festival is returning to Limassol for its 7th edition. Scheduled for May 30-31 and hosted at Kolla Factory, it promises to be a melting pot of ideas and innovation. CAPSBOLD’s partnership with the festival as the official marketing and creative collaborator further exemplifies the synergistic spirit that defines Cyprus’ approach to business growth and technological advancement.
Energy and Financial Developments
Energy efficiency and sustainability also made headlines with the Ministry of Energy’s announcement of a €17 million grant scheme. This initiative, funded by the European Union’s Recovery and Resilience Plan and aligned with the EU REPowerEU Plan, is set to enhance the competitiveness of large Cypriot businesses by fostering energy upgrades.
In finance, the Bank of Cyprus has successfully priced €300 million in green senior preferred notes, solidifying its commitment to environmental responsibility. Concurrently, Hellenic Bank’s negotiations for acquiring CNP Cyprus Insurance Holdings Limited signal a notable shift within the financial sectors of Cyprus and Greece.
Real Estate and Market Movements
Michalis Tsangarides, director of Delfi Partners, reported mixed trends in the Cypriot property market for the first quarter of 2024. With Nicosia experiencing growth, but Larnaca showing signs of stagnation, investors face a diverse economic landscape in the year ahead.
Furthermore, Keo, a leading Cypriot beverage company, announced a notable upswing in its turnover and profits for the fiscal year 2023, demonstrating resilience and strategic market positioning.
The Cyprus Stock Exchange’s move to accept government bonds, stemming from a recent auction, is a concerted effort to bolster the financial framework and attract further investment to the island.
Presidential Vision and Social Initiatives
President Nikos Christodoulides has expressed unwavering confidence in Cyprus’ trajectory amidst global uncertainty. His endorsement of ‘Vision 2035’ reflects an ambition to elevate Cyprus as a premier destination for living, working, and doing business.
In a steadfast commitment to social welfare, the Hope For Children CRC Policy Centre unveiled the “Hate Trackers Beyond Borders” app, empowering the youth to challenge online hate speech. This initiative, which involves collaboration among leading organisations from four countries, reinforces Cyprus’ dedication to fostering a culture of inclusivity and understanding on both national and international fronts.
What are the recent business, tourism, and sustainability developments in Cyprus?
Cyprus has made significant strides in various sectors such as the appointment of Paul Sies as CEO of Journey Mentor, the Travel Expo Cyprus 2024 uplifting tourism hopes, the Commonwealth Ocean Ministers Meeting prioritizing ocean protection, and Neapolis University excelling at ICPC. Additionally, there have been advancements in real estate with mixed trends, financial markets with the Bank of Cyprus issuing green bonds, and a focus on sustainability with a €17 million energy grant scheme announced by the Ministry of Energy.
Who was appointed as the new CEO of Journey Mentor and what is his background?
Paul Sies was appointed as the new CEO of Journey Mentor. He previously served as the CEO of Cyprus Airways, bringing in-depth knowledge and experience in the travel industry to his new role. Sies will oversee strategies involving search and booking technologies, as well as inventory management solutions aimed at enhancing the operations of small to medium-sized travel entities.
How did the Travel Expo Cyprus 2024 impact tourism in Cyprus?
The Travel Expo Cyprus 2024, organized by the Association of Cyprus Travel and Tourism Agents (ACTA), marked the beginning of a hopeful tourist season in Cyprus. The event, which gathered 45 exhibitors and influential figures, sparked optimism for the future of tourism in Cyprus. Participants included the Deputy Minister of Tourism, the Ambassador of Greece to Cyprus, and the ACTA President, all signifying a collective aspiration for a vibrant tourist season in Cyprus.
What financial developments have taken place in Cyprus recently?
The Bank of Cyprus successfully priced €300 million in green senior preferred notes, demonstrating its commitment to environmental responsibility. Additionally, Hellenic Bank’s negotiations for acquiring CNP Cyprus Insurance Holdings Limited signal notable shifts within the financial sectors of Cyprus and Greece. The Cyprus Stock Exchange has also accepted government bonds, aiming to strengthen the financial framework and attract further investment to the island.
