Cyprus’ Emerging Innovators Honored at European Researchers’ Night

by THEFUTURE.TEAM

October 15, 2025

Celebrating Youthful Ingenuity

At the historic State Fairgrounds in Nicosia, the Research and Innovation Foundation (RIF) recognized Cyprus’ promising young innovators and future scientists during its distinguished award ceremony at the 19th European Researchers’ Night. The event underscored the nation’s unwavering commitment to fostering creative problem-solving and scientific exploration among its youth.

Diverse Competitions Showcasing Critical Thinking

Fourteen students representing eleven schools across Cyprus were celebrated for their creativity and technical acumen. Participants engaged in a series of competitions that included Artistic Creation Action – European Missions for Sustainability, the Design Thinking Challenge, E-book Short Story, Science Unfold, and a contest for the Best Exhibition Stand. Each category challenged students to apply critical thinking and innovative strategies in addressing modern global challenges.

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Fostering Sustainability And Digital Proficiency

The projects covered a wide range of contemporary issues—from ocean protection and sustainable living to the development of smart cities and bolstering environmental awareness. Artistic entries illuminated the intricate balance between human activity and environmental preservation, while the E-book and Science Unfold competitions encouraged youth to blend creativity with empirical inquiry, fostering a generation equipped to tackle real-world issues.

Esteemed Recognition By Industry Leaders

The awards were presented by high-ranking officials including Deputy Minister Nikodimos Damianou, Chief Scientist Demetris Skourides, and RIF Director-General Theodoros Loukaidis, along with representatives from the Ministry of Defence and the European Commission. Their endorsement signaled a robust support for innovative educational practices and highlighted the strategic importance of nurturing scientific talent.

Looking Ahead to Future Innovations

Inspired by the achievements of this year’s participants, the RIF confirmed that the next European Researchers’ Night is scheduled for September 2026. Funded by the European Commission under the “MISSION POSSIBLE: Researchers on Board for an Inclusive and Sustainable Future” project, this initiative continues to empower Cyprus’ younger generation, promoting critical thinking and digital skills as keystones for future success.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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