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Cyprus Boosts AI, Cybersecurity And Digital Resilience Through New Partnership

by THEFUTURE.TEAM

July 24, 2026

Cyprus is stepping up efforts to strengthen artificial intelligence governance, cybersecurity and digital resilience as senior officials seek to align policy, regulation and technical expertise better.

Strategic Cooperation Takes Shape

Communications Commissioner Marios Pieris and Chief Scientist for Research, Innovation and Technology Demetris Skourides met to discuss a strategic cooperation framework aimed at supporting the secure, responsible and innovative adoption of artificial intelligence across the public sector, the economy and society.

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The discussions reflected the growing role of AI in shaping regulation, competitiveness, digital security and public trust, as governments across Europe prepare for wider deployment of the technology.

Preparing For The EU AI Act

A key focus of the meeting was the implementation of the European Union’s AI Act and the possible development of an AI Act Implementation Playbook for Cyprus. Such a framework would help public institutions and businesses translate the regulation into practical implementation.

The officials also discussed holding joint technical meetings and roundtables with ISO/IEC experts to bring internationally recognised standards and global AI governance expertise into Cyprus’ preparations.

Building Future-Ready Digital Defences

The meeting also addressed the broader challenge of strengthening Cyprus’ resilience against emerging risks associated with artificial intelligence and cybersecurity. Beyond regulatory compliance, the discussions focused on ensuring institutions, businesses and citizens can adapt to rapidly evolving technologies.

Pieris described AI and cybersecurity as closely connected pillars of Cyprus’ digital transformation, noting that stronger governance and security will become increasingly important as AI adoption expands.

He added that close cooperation among all relevant stakeholders will be essential to building a secure, resilient and trusted digital ecosystem.

Connecting Research, Government And Industry

Skourides highlighted the importance of closer collaboration among research, government, industry, and the innovation ecosystem, saying that stronger links would help Cyprus unlock AI’s potential while boosting competitiveness, productivity, and sustainable growth.

He also stressed that technological progress should remain aligned with European values, transparency and internationally recognised governance standards.

From Policy Discussion To Practical Action

Following the meeting, Pieris introduced the Office’s AI team to the Chief Scientist, extending discussions beyond policy towards future implementation and cooperation on AI, cybersecurity and digital governance initiatives.

Both sides agreed to continue holding regular working meetings with the shared goal of advancing innovation, strengthening digital resilience and supporting the safe and trustworthy deployment of AI in Cyprus.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.