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Kraken Awards Six Postgraduate Scholarships At The University Of Cyprus

by THEFUTURE.TEAM

Kraken, through its parent company Payward, has awarded six postgraduate scholarships at the University of Cyprus, strengthening its ties with the island’s academic sector and supporting the development of future professionals in finance and data science.

Scholarships Support Future Finance And Data Science Professionals

Announced at a ceremony in Nicosia on Monday, October 12, the scholarships will support students during the 2026–2027 academic year. Three recipients are enrolled in the MSc Finance programme, while three are pursuing an MSc in Data Science.

The initiative forms part of a broader partnership between Payward and the University of Cyprus Faculty of Economics and Management. Recipients were selected through established university procedures, based on academic merit and financial need. Awards will contribute towards tuition fees, although individual amounts were not disclosed.

Partnership Highlights Cyprus’ Financial And Academic Strengths

Alexia Theodorou, European Head of Derivatives and CEO of Kraken Cyprus, said the scholarships reflect the company’s confidence in Cyprus’ universities and their contribution to the financial services sector.

“Cyprus is one of our two hubs in Europe, and the quality of its universities is part of the reason,” Theodorou said. “These scholarships put our support directly behind six students whose work will shape how finance operates here and across the continent.”

University of Cyprus rector Tasos Christofides emphasised the importance of collaboration between universities and businesses in preparing graduates for a changing economy.

“At the University of Cyprus, we believe that investing in talented young people is an investment in the future,” he said.

Christofides added that higher education should go beyond formal qualifications by developing critical thinking and practical skills. In his view, private-sector partnerships can create opportunities for students while strengthening universities’ connections with the wider economy.

Financial Literacy And Digital Skills In Focus

Deputy Minister to the President Irene Piki also attended the ceremony, linking the initiative to Cyprus’ efforts to strengthen digital skills, financial literacy and economic competitiveness.

Addressing the scholarship recipients, Piki said their achievements demonstrated the dedication and capabilities needed as the economy becomes increasingly reliant on technology and specialised knowledge.

She also highlighted the risks associated with increasingly complex financial products and digital services.

“In this environment, knowledge is protection,” Piki said, adding that “financial literacy enables citizens to make informed decisions, manage risk, avoid costly mistakes and build long-term financial resilience.”

Piki called for closer cooperation between government, universities, regulators and businesses to improve financial education as technology reshapes the skills expected of graduates.

Industry And Academia Discuss Financial Innovation

A panel discussion titled “Financial Innovation and Digital Education” formed part of the ceremony. Participants included Chief Scientist for Research, Innovation and Technology Demetris Skourides, Kraken executive Stavros Vassiliades, financial expert Tassos Yiasemides and Demetris Sparsis.

The discussion explored the relationship between digital finance, technological development and financial education, focusing on ways to make financial services safer and more accessible.

Participants also stressed that the expansion of digital financial tools must be accompanied by practical financial knowledge, enabling people to make informed long-term decisions, including when planning for retirement.

During the event, the university also acknowledged former University Council chairman Tasos S. Anastasiou, under whose leadership the scholarship initiative was developed.

Kraken Strengthens Its Cyprus Presence

The scholarships come as Kraken continues to develop its operations in Cyprus, one of Payward’s two strategic European hubs.

Its Cyprus entity, Payward Europe Digital Solutions (CY) Limited, is authorised as an investment firm by the Cyprus Securities and Exchange Commission (CySEC) under licence number 342/17. Its activities include regulated financial instruments and derivatives.

Cyprus also plays a central role in Kraken’s European derivatives business. Kraken executive Stavros Vassiliades has previously highlighted the importance of the island’s operations, while the group’s Irish-regulated entities support crypto-asset services under the European Union’s Markets in Crypto-Assets Regulation (MiCA).

Vassiliades has also pointed to Cyprus’ talent pool in compliance, risk management, anti-money laundering and financial technology as a factor attracting international financial services firms.

Against this backdrop, the six scholarships represent both educational support and an investment in the talent pipeline for a financial sector increasingly shaped by technology.

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

by THEFUTURE.TEAM

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.

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.

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