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Cyprus Advances As A Regional Innovation Powerhouse through A Strategic MoU between RIF and Invest Cyprus

by THEFUTURE.TEAM

August 29, 2025

Forging a New Era in Innovation

Cyprus is strengthening its position as a pivotal innovation center following the signing of a Memorandum of Understanding between Chief Scientist Demetris Skourides and Invest Cyprus CEO Marios Tannousis. The accord unites the Research and Innovation Foundation (RIF) with the Cyprus Investment Promotion Agency, commonly known as Invest Cyprus, to accelerate research, technology, and innovation investment, concurrently empowering Cypriot companies to expand internationally.

Unified Strategic Vision And Execution

Under the stewardship of Chief Scientist Skourides, the Office of the Chief Scientist formulates the strategic blueprint for Cyprus’s innovation ecosystem, while the RIF implements executive mandates—ranging from facilitating funding programs to promoting scientific excellence, entrepreneurship, and the commercialization of research findings. This partnership, integrated with Invest Cyprus, seeks to position the island as a premier destination for international business and advanced research & development.

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Enhancing International Outreach And Investment

The memorandum builds on a year-long collaboration, formalizing a mutual commitment to act as an extended representation of one another, both domestically and overseas. Together, the partners are set to advance Cyprus as a hub for R&D and innovation by fostering connections between foreign enterprises and local businesses, and by providing robust investor support through both on-ground and remote engagements.

Building A Foundation For Sustainable Growth

In addition to promoting business and innovation, the alliance will advocate for comprehensive reforms aimed at refining the regulatory, business, and infrastructure environments vital for supporting innovative industries. Skourides noted, “This agreement is a clear demonstration of our dual commitment—to transform Cyprus into a magnet for innovation-driven investment.” Tannousis further emphasized Cyprus’s strategic geographic advantage, describing it as “a gateway to Europe, the Middle East and beyond,” and underscored the initiative’s role in catalyzing high-impact collaborations and growth opportunities for innovative firms.

An Indelible Impact On The Global Stage

Ultimately, this strategic partnership cements Cyprus’s reputation as an international business and innovation destination. By leveraging RIF’s funding schemes and fostering seamless global engagement, the initiative provides the necessary tools for companies looking to establish operations and pursue sustainable growth on the island.

The Future Forbes Realty Global Properties

Eurobank Approves €258.7M Dividend And €288M Share Buyback

by THEFUTURE.TEAM

April 29, 2026

Robust Dividend And Share Repurchase Initiatives

Eurobank S.A. shareholders approved a dividend distribution of €258.7 million at the annual general meeting held on April 28. The resolution was supported by approximately 77% of paid-up capital, representing more than 2.77 billion voting shares. The dividend will be paid from special reserves and remains subject to approval by the European Central Bank.

Strategic Share Buyback And Capital Optimization

In addition, shareholders approved a share buyback programme of up to €288 million over the next 12 months, pending regulatory clearance. The programme includes the cancellation of 28,097,019 own shares, which will reduce share capital by approximately €6.18 million. Following this adjustment, total share capital is set at €792,751,032.04, divided into around 3.6 billion ordinary voting shares with a nominal value of €0.22 each.

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Enhanced Executive And Employee Incentives

Alongside capital measures, the meeting addressed remuneration. Shareholders approved an allocation of €35.2 million from special reserves for employee compensation. A five-year programme was also introduced to distribute shares to eligible executives and employees of Eurobank and affiliated entities. In parallel, a revised variable remuneration framework allows selected senior executives to receive up to 200% of fixed pay.

Governance And Audit Oversight Reforms

Changes were also made at the board level. Alexandra Reich was appointed as an independent non-executive director, replacing Jawaid Mirza. Following this appointment, eight of the thirteen board members are classified as independent. Amendments to the articles of association introduce flexibility in board terms and allow partial renewals.

Strengthening Audit And Sustainability Commitments

On the audit side, KPMG Certified Auditors S.A. was appointed as the statutory auditor for 2026. The fee is set at €1.8 million for statutory audits of separate and consolidated financial statements, with an additional €0.3 million allocated for assurance of the sustainability statement. The meeting also approved the 2025 remuneration report and confirmed committee fee arrangements, alongside updates on audit committee activity and independent director reporting.