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EU-Backed Entrepreneurship Scheme Set To Create 800 Businesses And 1,600 Jobs In Cyprus

by THEFUTURE.TEAM

September 29, 2026

A European Union-backed entrepreneurship programme in Cyprus is expected to generate around 800 new businesses and more than 1,600 jobs, underscoring the island’s continued use of cohesion-policy funding to support enterprise, research, transport and urban renewal.

A Wider Investment Push Beyond Start-Ups

The figures were highlighted by Themis Christophidou, Director-General of the European Commission’s Directorate-General for Regional and Urban Policy, during the Cyprus Forum 2026 in Nicosia. But official programme data show the projected business and employment gains relate to the full €50 million New Entrepreneurship Activity Scheme, not the initial €30 million allocation alone.

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According to the official THALIA 2021–2027 programme, the scheme was launched in two rounds: an initial €30 million call in 2021, followed by a further €20 million round in 2024. Taken together, the programme estimates the combined funding will support 800 new businesses and create more than 1,600 jobs.

Targeting Sustainable Growth And New Entrants

The scheme is co-financed through EU cohesion funds and the Republic of Cyprus, with a focus on encouraging new, sustainable and competitive businesses. Particular emphasis is placed on young people and women, reflecting a broader policy effort to widen access to entrepreneurship.

Funding can be used for a range of start-up costs, including equipment, premises, renovations and promotional activity — all the practical inputs that often determine whether a promising idea becomes a viable business.

Infrastructure, Culture And Digital Services Also In Focus

Christophidou also outlined a broader pipeline of cohesion-policy investments currently being rolled out across Cyprus. These include €13 million for engineering research laboratory facilities at the University of Cyprus, almost €3 million for the restoration of three historic municipal buildings in Limassol, and €2 million for Salina Municipal Park in Larnaca.

In transport, €44 million is being directed toward public passenger infrastructure and the transition to electric mobility, a sign that cohesion funding is increasingly being linked to long-term competitiveness as well as environmental goals.

Nearly €2 million has also been invested in the Evagoras integrated information system, which is intended to expand digital services delivered by municipalities. The EU funds portal places the project’s total budget at €2.9 million, with the European Union contributing 60 per cent.

The Commission’s “Right To Stay” Strategy

Christophidou also referred to the European Commission’s emerging “Right to Stay” strategy, which is designed to address the economic and demographic pressures pushing people — especially younger and skilled workers — away from rural, remote and declining regions. The policy is aimed at improving the conditions that allow people to remain in their home regions by strengthening access to jobs, housing, education, public services, transport and digital connectivity.

She has previously framed the initiative as a response to territorial disparities that leave many Europeans feeling they have little realistic choice but to move elsewhere.

Cohesion Policy At The Center Of The EU Debate

The issue has already gained prominence during Cyprus’ EU Council presidency. Earlier this year, Finance Minister Makis Keravnos said more than 60 million EU citizens lived in regions where GDP per capita in 2023 remained below its 2000 level, arguing that cohesion policy would remain central to addressing widening regional gaps.

The Commission’s strategy is expected to feed into negotiations over the EU’s next long-term budget for 2028–2034, where cohesion funding is increasingly being tied to competitiveness, employment, connectivity and the ability of regions to retain both people and investment.

In Cyprus, that link is already visible: cohesion money is not just financing infrastructure and institutions, but also shaping the country’s capacity to grow businesses, create jobs and reduce the forces driving talent away.

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LVMH Revenue Rises, But China Weakness Continues To Weigh On Luxury Giant

by THEFUTURE.TEAM

October 13, 2026

A Softer Quarter Exposes The Limits Of Luxury’s Recovery

LVMH, the world’s largest luxury group and parent of Louis Vuitton, Dior, Celine and Hennessy, reported revenue of €18.5 billion in the three months to the end of September, underscoring both the scale of its business and the pressure building across parts of the luxury market.

The company’s revenue rose 1.2% year on year in the third quarter, following a 0.1% increase in the second quarter and a 5.9% decline in the first. The trajectory points to stabilization, but not yet to a convincing rebound.

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Organic Growth Misses Expectations

Organic sales growth, which strips out currency effects and portfolio changes, slowed to 1% in the third quarter from 3% in the previous quarter. That result fell short of market expectations and reinforced concerns that the luxury cycle remains uneven.

For the first nine months of the year, LVMH generated sales of €57.1 billion, with organic growth of 2%.

In its statement, the company highlighted the breadth of its portfolio, saying that diversification continues to provide resilience in an uncertain geopolitical and economic environment. That remains one of LVMH’s defining strengths: when one category weakens, another can help offset the downturn.

China Remains The Key Pressure Point

LVMH said sales performed well in the United States, Europe and Japan, but conditions in China remained less favorable. That matters because the country has long been one of the most important growth engines for global luxury brands.

The fashion and leather goods division, LVMH’s most closely watched unit, saw organic sales fall 5% as weaker demand in China weighed on performance. Deutsche Bank said the decline was steeper than the roughly 2% drop expected by analysts.

The segment had delivered its first organic sales gain in two years in the previous quarter, making the latest retreat a notable setback.

Brand Equity Faces A Test In China

The quarter also highlighted the reputational risks facing global brands in China. Louis Vuitton drew criticism after suing local tea company Molly Tea over logo copying. Although the company won the case, the dispute sparked social media backlash and boycott calls, adding another layer of pressure to an already fragile environment.

For a company built on scarcity, aspiration and brand discipline, perception is an asset as valuable as inventory. In a market as digitally connected as China, that asset can shift quickly.

Mixed Performance Across The Portfolio

Not every division weakened. LVMH’s selective retailing business, which includes Sephora, posted an 8% organic sales increase. Watches and jewellery, along with wines and spirits, both recorded 6% organic gains.

That broad mix is precisely what has historically given LVMH an advantage over rivals: it can absorb softness in one category without relying on a single growth driver.

Analysts See A Longer Recovery Ahead

Deutsche Bank analysts said the results could lead to further cuts in earnings forecasts for the second half of 2026 and 2027. They added that it is difficult to see what could improve investor sentiment in the near term.

Still, the bank framed the weakness as cyclical rather than structural. In its view, recovery is taking longer because Chinese demand remains subdued, but the problem does not appear to reflect a permanent deterioration in the brand franchise. Analysts said ongoing brand initiatives are beginning to show results, though improvements are likely to remain gradual.

Investor Pressure Continues To Mount

LVMH’s share price has fallen nearly 40% since the start of the year. In September, L’Oréal overtook the group as France’s most valuable listed company, a symbolic shift that captures how sharply sentiment has changed.

Shares in LVMH were down more than 1.6% in Paris around 10 a.m. CEST following the release.