resilience

Cypriot tech company takes a bold leap into mixed reality

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Cypriot tech company takes a bold leap into mixed reality

– Ascation was founded by George Tziazas and Minas Kyriakou in 2015.
– They started with game development but transitioned to mixed reality in 2018.
– Ascanio aims to revolutionize mission-critical training across industries using mixed reality technology.
– They received support from Kinisis Ventures and Fameline Holding Group for investment and networking opportunities.
– Ascanio’s technology provides immersive training for high-risk scenarios in various industries.
– They focus on safety, real-time feedback, and comprehensive debriefing in their training solutions.
– Ascanio’s platform integrates biosensing and haptic feedback for a realistic training experience.
– They have developed a physiotherapy module in collaboration with the University of Nicosia for Parkinson’s patients.
– George and Minas actively support the tech community in Cyprus through mentorship and participation in internship programs.
– Ascanio plans to expand into industries like shipping, aviation, construction, and telemedicine to revolutionize training methods.
– George and Minas believe in the transformative power of mixed reality technology in reshaping industries.

CyTA given green light to supply smart meters

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CyTA given green light to supply smart meters

CyTA has been given the approval to supply and install 400,000 smart meters by a new law passed by the House.

After soft U.S. CPI, is Fed rate cut wishful thinking?

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After soft U.S. CPI, is Fed rate cut wishful thinking?

Fact: Federal Reserve chair Jay Powell indicated that officials are in no rush to cut borrowing costs.

Bank of Cyprus Q1 profits stable at , €133 mln

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Bank of Cyprus Q1 profits stable at , €133 mln

Bank of Cyprus Holdings announced €133 million in first quarter profits, up 40% year-on-year but €5 million short of the previous quarter’s after-tax profits.

Demetriades remains as head of association of large investment projects

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Demetriades remains as head of association of large investment projects

Fact: Andreas Demetriades will continue to lead the Cyprus Association of Large Investment Projects.

Cypriot team conquers Guinness World Record for highest altitude fitness session [PHOTOS]

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Cypriot team conquers Guinness World Record for highest altitude fitness session [PHOTOS]

A team led by Alexis Economides broke the record for the highest altitude fitness session by reaching the summit of Mera Peak in Nepal, 6,476 meters above sea level. The team included Alexis, Evgenia Konstantinou, Trevor Jones, and four Sherpas. Training in Cyprus prepared them for the harsh Himalayan conditions, and despite the challenges of high altitude, they successfully completed a workout session at the summit. The team plans to continue exploring extreme altitudes to promote physical health and resilience.

Global trade disruptions and their impact on tax and trade

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Global trade disruptions and their impact on tax and trade

Fact: The disruptions in global trade routes, such as those at the Suez Canal and Panama Canal, have significant tax implications for multinational corporations, affecting transfer pricing, profit attribution, intangible property, withholding taxes, and customs duties.

Bank of Cyprus posts , €133 million profit —new lending hits €676 million

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Bank of Cyprus posts , €133 million profit —new lending hits €676 million

The Bank of Cyprus released its financial results for the first quarter of 2024, reporting a profit after tax of €133 million.

Business tax incentives, tax reform top of budget wishlist

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Business tax incentives, tax reform top of budget wishlist

Accounting firms and associations are emphasizing the importance of addressing the rising cost of business and undertaking tax reform ahead of the federal budget release. RSM Australia is advocating for the permanent incorporation of business loss carry back offset rules into Australia’s income tax regime to encourage investment and bolster business resilience.

Will markets keep up gains this year?

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Will markets keep up gains this year?

The CEO of a financial advisory and fintech firm predicts that the US and European stock market rallies will continue despite the US central bank potentially not cutting rates until 2025. The expectation is based on strong earnings growth, especially in AI-focused companies, and positive economic forecasts from institutions like the IMF and Bloomberg. Additionally, signs of economic rebound in China and Europe are contributing to the optimistic outlook. The anticipation of interest rate cuts in response to a potential economic slowdown is also seen as a factor that could bolster equities. Savvy investors are advised to adopt strategic approaches to capitalize on the upward momentum while managing potential risks. April’s US consumer price index report is awaited, with traders hoping for no return to rate hikes by the Federal Reserve. Both narratives point to a likely continuation of stock market gains, with investors advised to top up their portfolios judiciously with guidance from financial advisors.