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Nicosia Partners With Israel’s Mekorot To Strengthen Water Security

by News Editor

August 4, 2026

The Nicosia District Local Government Organisation (EOA) has entered into a new partnership with Israel’s national water company, Mekorot, as Cyprus looks to strengthen water security and modernise the management of its water resources.

Signed on Tuesday, the memorandum of cooperation will focus on sharing expertise in areas such as desalination, wastewater reuse, smart water networks and flood management. The initiative comes as both Cyprus and Israel continue to face mounting pressure on water supplies due to their shared Mediterranean climate.

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Improving Water Efficiency

Reducing water losses is expected to be one of the partnership’s immediate priorities. According to EOA President Constantinos Yiorkadjis, non-revenue water in the Nicosia district currently stands at around 20%, making it the lowest rate among Cyprus’ districts and below the European Union average.

He said the district organisation has continued investing in modern infrastructure, digital technologies and operational improvements to make water services more reliable and sustainable. Working with Mekorot, he added, will provide access to international expertise and practical experience in tackling some of the region’s most pressing water challenges.

A Broader Exchange Of Expertise

The agreement extends beyond water distribution. Both organisations plan to cooperate on wastewater management, flood prevention and the adoption of advanced technologies, while also identifying future areas where technical collaboration could deliver long-term benefits.

Mekorot Chief Executive Officer Barak Graber said Cyprus and Israel face similar environmental conditions and depend on the same Mediterranean water basin, creating natural opportunities to work together on shared challenges. The partnership, he noted, will focus on setting priorities and developing practical solutions through a long-term approach.

Building On Existing Cooperation

Israeli Ambassador to Cyprus Oren Anolik described water management as both an environmental and strategic priority, highlighting Israel’s experience in maximising the efficient use of limited water resources. He also noted that Mekorot has already contributed to desalination projects in Larnaca and Limassol.

The latest agreement builds on a relationship that stretches back more than a decade. Cyprus’ Water Development Department has worked with Mekorot on desalination projects since 2015, with Director Eliana Tofa saying the company’s technical expertise has provided valuable support throughout that collaboration.

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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.