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Cyprus State Scholarship System Faces Governance And Funding Crisis

by THEFUTURE.TEAM

December 12, 2025

Since the resignation of former president George Skaliás in March, the Cyprus State Scholarships Institution (IDOHKY) has been operating leaderless, relying solely on its board of directors. Recent testimonies before the Parliamentary Committee on Education have underscored not only pressing financial shortfalls affecting eligible students but also critical issues in operational functionality and intergovernmental communication.

Leadership Vacuum And Operational Disarray

In the absence of a head, concerns are mounting over the institution’s ability to fulfill its mandate. Officials from the Ministry of Finance reported that specific data regarding past arrears and outstanding commitments have been requested repeatedly from IDOHKY, to no avail. This lack of responsiveness fuels broader worries about the institution’s organizational discipline and its capacity to engage in effective communication with government bodies.

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Implications For Funding Eligible Students

The Ministry of Finance has acknowledged ongoing issues with funding eligible students and is planning a supplementary budget. The proposed measures aim to ensure that, by January, around 200–300 current students, as well as approximately 340 beneficiaries from the previous year, receive the scholarships they are entitled to. Without these urgent interventions, many students who meet the criteria may miss out on crucial financial support.

Political Backlash And Calls For Immediate Action

Members of parliament have reacted sharply to the situation. AKEL representative Christos Christofidis criticized the institution’s operations, noting that while last year around 965 scholarship recipients were announced, only about 411 will be funded this year due to budgetary constraints. He highlighted that no supplementary budget measures have been implemented this year, leaving many deserving students at risk. Christofidis emphasized that reducing support to 411 students is unacceptable and stressed the need for immediate financial interventions to address these deficits.

Broader Implications For The Nation’s Future

Further criticism came from lawmakers across the political spectrum. DISY member George Karoullas condemned the current state as a degradation of academic excellence and national prestige. Similarly, DIKO representative Chrysantos Savvidis pointed to the harsh reality faced by students from economically disadvantaged backgrounds, whose educational pursuits are jeopardized by the funding shortfall.

The unfolding crisis at IDOHKY not only endangers the future of individual students but also raises serious concerns about the efficacy and transparency of state institutions entrusted with nurturing academic talent. Immediate and decisive action, including the preparation of a comprehensive supplementary budget, is essential to safeguard the nation’s educational standards and maintain public trust in government-managed scholarship programs.

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Rolls-Royce Raises Guidance As Defense And Power Systems Drive Growth

Rolls-Royce raised its full-year profit and cash flow guidance after reporting stronger-than-expected first-half results, supported by growth across its civil aerospace, defense and power systems businesses.

Underlying operating profit rose 46% year on year to £2.5 billion ($3.3 billion) in the first six months of 2026, while revenue increased more than 24% to £11.3 billion.

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The company now expects full-year underlying operating profit of £4.7 billion to £4.9 billion, up from previous guidance of £4 billion to £4.2 billion. It also raised its free cash flow forecast to £3.8 billion to £4 billion, compared with £3.6 billion to £3.8 billion previously.

Shares rose as much as 6% in early trading before paring gains to trade about 4% higher.

Data Center Demand Supports Power Systems

Chief Financial Officer Helen McCabe told CNBC that orders in Rolls-Royce’s data center power business increased by more than 50% in the first half as operators invested in backup and on-site power systems.

The company has benefited from growing demand for power infrastructure as data center operators expand capacity.

Defense Spending Provides Additional Support

McCabe also said Rolls-Royce expects to benefit from higher defense spending in the U.K. and across NATO countries. She cited the U.K.’s long-term defense investment plan, which provides funding visibility through 2030 and beyond.

“We’ve had very positive initial conversations with the new government,” McCabe said, adding that the company supports its focus on growth, defense and industrial manufacturing.

Turnaround Continues

Chief Executive Tufan Erginbilgic said the company’s transformation strategy continued to deliver results. “Our transformation continues to deliver,” he said in a statement. “We have unlocked new growth opportunities across the Group.”