Cyprus Business Now: women in maritime, young entrepreneurship awards, SPARROW against digital and natural disasters
Some 400 women in shipping from 40 different countries are currently participating in the 50th Anniversary World Congress of the Women’s International Shipping and Trade Association (WISTA International), which began on Thursday in Limassol.
Meanwhile, the Secretary General of the International Maritime Organisation (IMO), Arsenio Dominguez, expressed satisfaction in his opening address at the Conference, acknowledging that the Cypriot Government is strengthening the role of women in shipping through specific actions. Notably, the 1st Gender Equality Award of the Organisation was awarded to Cypriot Despina Theodosiou.
In parallel, the seventh annual ‘Young Entrepreneurship Awards,’ organized by the Cyprus Chamber of Commerce and Industry (Keve) with support from the Ministry of Energy, Commerce, and Industry, along with Hellenic Bank, celebrated young Cypriot entrepreneurs for their contributions to the country’s economic growth.
Recognised as an “annual institution,” Keve highlighted the awards’ purpose in inspiring young entrepreneurs, adding that the awardees serve as examples and ambassadors for Cyprus’s entrepreneurial future. Speaking on behalf of House Speaker Annita Demetriou, Disy deputy Savia Orphanidou underlined the “crucial role that youth entrepreneurship plays in the development and economic progress of our country,” while Keve president Stavros Stavrou emphasised that “the future belongs to the new generation,” stressing the collective responsibility to equip them with essential skills.
Funded by the EU’s Horizon Europe Programme, the initiative brings together 15 organisations from across the continent, focusing on fortifying societies and First Responders against both digital and natural disasters.
The three-year SPARROW project seeks to tackle vulnerabilities in Europe’s critical infrastructure, including digital failures witnessed during recent crises.The project will create a Digital Twin platform and other tools to support emergency communication and coordination. Tools will be evaluated through tests and exercises involving end-users to ensure practical, real-world effectiveness.
On Friday, the Cyprus Stock Exchange (CSE) experienced a slight downturn, with the general index recording a 0.66 per cent decrease by noon, settling at 199.90 points.
The FTSE/CySE 20 Index also saw a decline of 0.69 per cent, trading at 121.87 points, while daily turnover reached €244,643.
In terms of sector performance, the alternative market index was the only sector to post gains, rising by 0.30 per cent.
Meanwhile, the main market dropped by 1.02 per cent, and investment companies fell significantly by 3.58 per cent. The hotels index remained unchanged.
Among the most actively traded securities, Bank of Cyprus saw substantial activity, with transactions totaling €115,101 (unchanged), followed closely by Hellenic Bank at €81,524 (unchanged).
Demetra Holdings, with €37,811 in trades, declined by 3.63 per cent, while Petrolina recorded a 1.27 per cent gain with €3,890 in transactions.
Cyprus Cement Company remained steady with a trading volume of €3,825.