Cyprus Business Now: high rents, financial support to wine industry, PwC’s Academy Business Professionals Certificate
Tech firms have recently warned that soaring office rents – now exceeding those in London and Amsterdam – pose a serious threat to Cyprus’ goal of becoming a tech hub. The rising cost of office space, especially in Limassol, presents a major hurdle for the Information and Communications Technology (ICT) sector’s growth, as highlighted by representatives of tech companies at the recent Cyprus Forum.
Meanwhile, in a related focus on supporting industries crucial to Cyprus’ economy, Environment Commissioner Antonia Theodosiou confirmed the government’s commitment to the wine sector’s financial backing. Speaking on behalf of the president at the Afamia – Grape Festival in Koilani, Theodosiou emphasized that “despite the challenges, every effort is being made to support it,” while the government aims to further promote local vine products through financial incentives outlined in the strategic plan of the Common Agricultural Policy (CAP) 2023-2027.
Adding to Cyprus’ efforts to foster industry-ready skills, PwC Cyprus announced the October launch of PwC’s Academy Business Professionals Certificate (BPC). Created in collaboration with the Institute of Chartered Accountants in England and Wales (ICAEW), this certificate program is tailored to equip individuals with essential business skills, including accounting, information management, Cyprus Tax, and Cyprus Law, to thrive in today’s competitive market. The inaugural cohort is set to graduate in June 2026, offering a valuable educational pathway without the need for a full professional qualification.
On Monday, the Cyprus Stock Exchange (CSE) is seeing an upward trend, with the general index trading at 194.37 points by noon, reflecting modest gains within 1 per cent.
The FTSE/CySE 20 Index was at 118.40 points, up by 1.03 per cent. The daily turnover reached €484,046.
Among the individual stock indices, all showed gains except for the hotel sector, which remained unchanged.
The investment market led with an 8.33 per cent increase, followed by the main market at 1.62 per cent, and the alternative market at 0.06 per cent.
Top securities attracting investor interest included Hellenic Bank with €211,526 traded (down 1.75 per cent), Demetra Holdings with €112,676 traded (up 8.42 per cent), Bank of Cyprus with €89,132 traded (down 0.22 per cent), Logicom with €33,718 traded (up 2.76 per cent), and Vasilikos Cement Works with €33,109 traded (unchanged).