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PwC Foundation Expands Its Social Impact Across Cyprus With Focus On Education, Entrepreneurship And Community Support

by THEFUTURE.TEAM

The PwC Foundation broadened its contribution to education, entrepreneurship and community support during the 2026 financial year, with PwC Cyprus advancing a series of initiatives designed to create measurable social impact across the island.

Guided by PwC’s broader purpose of building trust in society and addressing long-term challenges, the foundation concentrated its efforts on three strategic pillars: education and culture, youth entrepreneurship, and community support through its Offering Our Hearts & Minds programme.

Education And Skills Remain A Core Priority

Education remained one of the foundation’s main areas of focus throughout FY26.

Fourteen scholarships were awarded to high-performing students at the University of Cyprus and the Cyprus University of Technology, with both academic achievement and financial need taken into account. PwC Cyprus also continued to support initiatives, including Girls in STEAM and TechWeCan, helping students develop science, technology, and digital skills.

Financial literacy formed another key part of the programme. During Global Money Week, PwC volunteers visited 10 public schools, delivering financial education sessions to 28 classrooms and nearly 300 primary, secondary and lyceum students.

Additional initiatives included a partnership with the Cyprus Institute of Marketing, the Beyond the Workforce of Today programme and continued support for the Pharos Arts Foundation.

Backing The Next Generation Of Entrepreneurs

Youth entrepreneurship remained another major focus, with the PwC Foundation continuing its strategic partnerships with Junior Achievement Cyprus, the University of Cyprus and Cyprus Seeds.

Students gained hands-on business experience through the Company Programme, while the Our Community initiative introduced younger participants to civic engagement and community projects.

Among the year’s highlights, HerShield from St Mary’s School in Limassol represented Cyprus at the JA Europe competition in Riga, finishing third in the JA Europe Company of the Year 2026 category among teams from more than 40 countries.

Support also included the Innovation & Entrepreneurship Forum, the Global Entrepreneurship Monitor (GEM) at the University of Cyprus and the launch of the University of Cyprus C4E Summer Academy. PwC Cyprus is also set to launch the Scale Up 3 programme in September 2026 to support emerging startups.

Community Support Continues To Extend The Foundation’s Reach

Community engagement remained an important part of the foundation’s activities.

Employees participated in blood donation campaigns and supported the Movember movement, while more than 350 volunteers took part in 13 Volunteer Days activities across Cyprus. PwC also continued providing pro bono services and financial support to non-profit organisations.

Leadership Frames Impact As A Long-Term Commitment

PwC Cyprus Chief Executive Andreas Yiasemides said the foundation’s work reflects the company’s long-term commitment to supporting education, entrepreneurship and local communities.

“At PwC, we believe that meaningful change is achieved through collective action, long-term commitment and active participation,” Yiasemides said, adding that the company will continue investing in initiatives that create opportunities for people to thrive and deliver lasting value for future generations.

Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

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.

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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