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Cyprus As Strategic Gateway: Chief Scientist Skourides Champions Innovation During Australia Visit

by THEFUTURE.TEAM

September 9, 2025

Strengthening Transcontinental Ties

During a landmark visit to Australia, Cyprus Chief Scientist Demetris Skourides, accompanied by High Commissioner Antonis Sammoutis, underscored Cyprus’s ambition to serve as a pivotal gateway hub to Europe. This strategic mission focused on enhancing research and innovation ties between Cyprus and Australia, setting the stage for robust bilateral cooperation.

High-Level Engagement with Australian Leaders

Skourides engaged in high-level discussions with Australia’s top scientific minds, including Chief Scientist Tony Haymet. The meetings highlighted Cyprus’s dynamic research ecosystem and its forward-looking Research and Innovation Strategy for 2024–2026. Both parties exchanged insights on critical fields such as climate change, sustainability, ocean science, robotics, artificial intelligence, and emerging technologies.

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In-Depth Policy and Technological Dialogues

Further meetings with representatives from Australia’s Department of Infrastructure, notably Lori Mancel and Benedict Lyons, delved into emergency response strategies and drone technology for fire management. At CSIRO, Skourides and senior figures including Janet Anstee, Head of Aquawatch Australia, explored collaborative prospects in water quality monitoring systems, combining sensor technology with earth observation data to improve management practices.

Forging Multidisciplinary Partnerships

Discussions extended into diverse sectors as Skourides met Katherine Woodthorpe, President of the Australian Academy of Technological Sciences & Engineering, and Peter Derbyshire, Director of Policy and International Affairs at ATSE. These discussions focused on synergies in agro-food, agritech, climate tech, health, and MedTech. Additionally, engagements at the University of Melbourne and Monash University showcased commercialisation breakthroughs in MedTech, SportTech, EnviroTech, and intelligent computing, emphasizing Cyprus’s growing innovation landscape.

Symbolic Industry Leaders and Diaspora Impact

At a diaspora event attended by key political and business figures, Skourides delivered a keynote entitled “Bridging Continents: Cyprus’s Rapidly Growing R&I Ecosystem.” He highlighted transformative initiatives such as the Cyprus Space Research and Innovation Centre, artificial reef projects by CMMI, and the groundbreaking SOZO Brain Center. The success stories illustrated the tangible outcomes of sustained collaboration between Cyprus and Australia.

Looking Ahead: A New Era Of Partnership

In interviews with SBS Radio and on a podcast with Donikian Media’s George Donikian, Skourides emphasized the significant potential for future partnerships. With promising discussions already underway, including interest from two Australian technology companies seeking to establish operations in Cyprus, this visit has firmly positioned Cyprus as the conduit for European innovation and investment.

Conclusion

Chief Scientist Skourides’ Australia visit marks a strategic milestone in cross-continental collaboration, reaffirming Cyprus’s role as a vital hub for research and innovation. This dynamic initiative not only reinforces bilateral economic objectives but also sets a course for global partnerships that can drive transformative change in technology, health, and environmental resilience.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.