The Cyprus Securities and Exchange Commission (CySEC) on Monday announced that in recognition of the importance of financial education and academic excellence, it recently handed out awards to two exceptional students during the academic year 2022-2023.

According to the announcement, the cash awards, totalling €1000, were presented to the students as part of CySEC’s commitment to promoting financial literacy and supporting the academic community.

The awards, which have now become an annual tradition, were established to honour the memory of the late Frixos Sorokkos, the inaugural Chairman of CySEC. Sorokkos played a pivotal role in the establishment of the regulatory body, which currently oversees the activities of over 830 entities operating in Cyprus.

Panayiota Nteli, a student at the Cyprus University of Technology (Tepak), and Aris Shokri, a student at the European University of Cyprus, were the recipients of the two awards from the commission. CySEC noted that each student received a cash prize of €500 in recognition of their outstanding achievements and dedication to their studies.

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The awards were presented on behalf of CySEC by commission officer Elena Karkoti, during the respective graduation ceremonies held at the Cyprus University of Technology on Wednesday, 21 June 2023, and at the European University of Cyprus on Wednesday, 5 July 2023.

CySEC’s initiative aims to encourage students to pursue knowledge in subjects related to the commission’s regulatory responsibilities and the investment services sector.

The commission explained that by supporting academic research and fostering a deeper understanding of the field, it seeks to contribute to the growth and dissemination of knowledge within the financial industry.

These annual student awards form part of CySEC’s broader efforts to promote financial education and strengthen Cyprus’s position as a hub for financial expertise.

For the third consecutive year, more than 40 innovative and startup companies in Cyprus exchanged opinions and ideas at the event “The Bash! 2023: The Startup Community Networking Event,” attended by the Deputy Minister of Research, Innovation, and Digital Policy.

The event, organised by the Research and Innovation Foundation (RIF), took place last week in Nicosia.

In a statement, the RIF reported that representatives from over 40 Cypriot startup and innovative companies, investors, and representatives of organised groups and entrepreneurial entities had the opportunity to present their innovative ideas, exchange views, and share their experiences, laying the groundwork for new collaborations and entrepreneurial ventures.

The Deputy Minister of Research, Innovation, and Digital Policy, Philippos Hadjizacharias, had the opportunity to meet the country’s innovative entrepreneurial community firsthand and learn about the actions implemented by the RIF to support them.

Welcoming the attendees, Deputy Minister Hadjizacharias stated that networking and collaboration are key to a strong innovation ecosystem.

“Today’s event,” he said, “is a great opportunity to strengthen these bonds, and I genuinely hope that it will trigger productive discussions that will pave the way for future collaborations for the mutual benefit of all”.

The Cyprus Stock Exchange (CSE) ended Monday, July 17 with losses.

The general Cyprus Stock Market Index was at 115.50 points at 12:37 during the day, reflecting a decrease of 0.35 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 69.44 points, representing a drop of 0.36 per cent.

The total value of transactions came up to €261,203.

In terms of the sub-indexes, the main index fell by 0.43 per cent, while the remaining indexes remained unchanged.

The biggest investment interest was attracted by the Cyprus Cement Company (no change), Demetra Holdings (no change), Hellenic Bank (-1.04 per cent), Logicom (no change), and the Bank of Cyprus (-0.35 per cent).