Cyprus Unions Demand Urgent Inspections Over Rising Use Of Temporary Hotel Workers

Trade unions representing hotel and leisure-centre workers in Cyprus are calling for immediate workplace inspections, warning that the growing use of temporary agency workers is undermining labour protections across the hospitality sector.

Unions Raise Legal And Contractual Concerns

Ouxeka-Sek and Syxka-Peo have written to Labour Minister Marinos Mousiouttas, Labour Relations Department Director Andis Apostolou and Labour Department Director Alexandros Alexandrou, urging the government to intervene.

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The unions said the increasing use of temporary agency workers in hotels and leisure centres has become a widespread problem. They argue the practice violates the Temporary Agency Work Law of 2012, Law 174(I)/2012, while also undermining collective agreements and labour regulations.

Pressure Mounts On Labour Oversight

The unions warned that the issue has been compounded by the new framework governing the employment of third-country workers. In their view, the combined effect is weakening labour protections and distorting competition across the hospitality sector.

Their intervention follows an earlier warning from the Labour Relations Department. In a letter dated June 17, 2025, Apostolou reminded hotel associations of their legal obligations under the existing framework.

The unions said the practice has nevertheless continued and is becoming more widespread, increasing pressure on the government to step up enforcement.

Part Of A Wider Pattern Across Key Sectors

The concerns in the hospitality sector follow similar warnings from the construction industry, where Peo, Sek and Deok said the growing use of temporary workers has led to violations of collective agreements, unsafe working conditions and the treatment of employees as disposable labour.

Meanwhile, the government has announced plans to double the number of labour inspectors from eight to 16 as part of efforts to strengthen enforcement against illegal and undeclared employment.

Call For Immediate Action

Ouxeka-Sek and Syxka-Peo are calling on the Labour Ministry to carry out immediate inspections at hotels and leisure centres, enforce compliance with labour legislation, stop unlawful practices and protect workers’ rights.

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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.

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