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Cyprus Sets Cap On Third-Country Students In Private Higher Education Institutions

In a significant policy shift, the Cypriot government has implemented a cap on the number of students from non-EU countries enrolled in private higher education institutions. This new regulation, ratified by the Cabinet, aims to strike a balance between attracting international talent and maintaining educational standards while ensuring adherence to national immigration policies. Effective from the academic year 2024-2025, the cap targets private institutions with high international-student ratios, reflecting Cyprus’ commitment to sustainable growth and quality education.

Rationale Behind the Cap

The decision to introduce this cap is multifaceted. Primarily, it aims to regulate the burgeoning number of international students to ensure that educational quality is not compromised. With a surge in third-country nationals seeking education in Cyprus, there has been growing concern about the capacity of private institutions to maintain high academic standards while accommodating an increasing number of students.

Furthermore, this policy addresses immigration control, ensuring that the influx of students aligns with the country’s broader immigration and demographic strategies. By managing the number of international students, the government aims to streamline the integration process and avoid potential socio-economic imbalances.

Implementation and Impact

The cap will be enforced starting from the 2024-2025 academic year, giving institutions time to adjust their admission processes and align with the new regulations. The Ministry of Education, Sports, and Youth, in collaboration with the Ministry of Interior, will oversee the implementation, ensuring compliance and providing support to institutions during the transition period.

Institutions with a high proportion of third-country students will need to reassess their recruitment strategies and may need to diversify their student base. This shift could lead to enhanced collaboration with EU countries and increased efforts to attract students from within the European Union.

Broader Implications for the Education Sector

This policy is expected to have several implications for the Cypriot education sector. For one, it may prompt private institutions to invest more in facilities, faculty, and resources to attract a diverse student body and maintain competitive standards. Additionally, the cap could encourage a more balanced distribution of international students across various institutions, promoting healthy competition and innovation in the education sector.

Moreover, the cap is part of Cyprus’s broader strategy to enhance the quality of higher education, making it a more attractive destination for high-calibre students globally. By ensuring that private institutions can offer top-notch education without being overwhelmed by numbers, Cyprus aims to solidify its reputation as a hub for quality higher education.

Freedom Holding Reports 40% Revenue Growth In First Quarter

Freedom Holding Corp., the parent company of Freedom24, reported a 40% year-on-year increase in total net revenue in the first quarter of fiscal 2027, reaching $732.5 million. The results cover the three months ended June 30, 2026.

Net income fell to $31.7 million, or $0.52 per diluted share, compared with $37.4 million and $0.61 per share a year earlier. Total assets reached $14 billion, up from $13.2 billion at the end of March.

Brokerage And Banking Lead Growth

The company’s performance was driven primarily by its brokerage and banking businesses. Brokerage revenue increased 60% to $282.6 million, supported by higher fee and commission income and stronger interest income. The number of retail brokerage customers reached 874,000.

Banking revenue rose 54% to $225.2 million, helped by foreign exchange operations, gains on trading securities and higher interest income. The banking customer base grew to 5.4 million from 5 million in the previous quarter.

Customer Base Continues To Expand

Across its banking, brokerage, insurance and other businesses, Freedom Holding had 8.74 million customers at the end of June.

Founder and CEO Timur Turlov said the results reflected continued growth across the company’s businesses, while highlighting the role of its digital fintech strategy and Freedom SuperApp.

Expansion Of The Digital Ecosystem

During the quarter, Freedom Holding expanded its digital ecosystem by acquiring 100% of ChessBase GmbH, a company specialising in chess software, analytics and database solutions.

The group also received an upgrade from S&P Global Ratings, which raised the long-term issuer credit ratings of several Freedom subsidiaries from “B+” to “BB-”, with stable outlooks. The upgrade reflected improvements in financial discipline, risk management and compliance.

The company’s latest results show strong revenue growth, although profitability declined compared with the same period last year.

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