landscape

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.

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.

Cyprus tourism sector faces compliance hurdles

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Cyprus tourism sector faces compliance hurdles

Fact: The Deputy Ministry of Tourism in Cyprus recently revised the inventory of hotels and tourist accommodations, with the majority of them not meeting the necessary compliance criteria.

Increase to capital gains inclusion rate has led some business owners to re-evaluate their plans

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Increase to capital gains inclusion rate has led some business owners to re-evaluate their plans

The change to the capital gains inclusion rate has created distress among those approaching retirement, particularly business owners, who now face a much higher tax bill than they had planned.

Invest Cyprus and CYFA join forces to strengthen business landscape

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Invest Cyprus and CYFA join forces to strengthen business landscape

Fact: The Cyprus Investment Promotion Agency (Invest Cyprus) and the Cyprus Fiduciary Association (CYFA) signed a memorandum of understanding (MoU) to enhance collaboration and promote Cyprus as an international center for fiduciary and administrative services.

President calls for private sector involvement to tackle housing crisis

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President calls for private sector involvement to tackle housing crisis

President Nikos Christodoulides praised the Cyprus Association of Large Investment Projects for its contribution to the economy and stressed the importance of public-private sector collaboration to address affordable housing challenges.

ECB says stress in home loans manageable despite high rates, lax checks

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ECB says stress in home loans manageable despite high rates, lax checks

Stress in the euro zone market for home loans is considered manageable by the European Central Bank, despite higher interest rates and lax checks by some banks. The ECB reviewed the mortgage books of 37 euro zone banks and found deficiencies in how mortgages are originated. Specifically, the ECB found that some banks were not adequately weighing up risks before granting a mortgage, leading to concerns about borrowers being able to meet higher interest rates. Banks were also found to be taking more risks just before or when rates started rising. The ECB has asked banks to address these deficiencies, but overall, the banking sector’s response suggests a commitment to mitigating risks and maintaining stability in the residential real estate landscape.

TV upfront presentations clouded by digital video ad supremacy

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TV upfront presentations clouded by digital video ad supremacy

Digital video advertising now surpasses spending on traditional television ads, with tech players like Amazon impacting media companies’ financial results. Ad companies are shifting their focus towards digital platforms like Netflix, TikTok, and YouTube TV, with digital video expected to reach .9 billion in U.S. ad spending by 2024. Traditional media companies are experiencing declines in television ad revenue, prompting them to develop new advertising tools to reach consumers across various platforms. Disney and Warner Bros Discovery are combining streaming services to compete with digital rivals like Amazon and Netflix, while media companies are partnering with tech giants like Google to sell more ads programmatically.

Turkey’s Plan B on Cyprus

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Turkey’s Plan B on Cyprus

Ankara is undermining the UN Secretary General’s envoy on Cyprus and is moving towards implementing Plan B for two states. The envoy’s efforts have not progressed, and the occupation side is pushing for the envoy’s contract not to be renewed. Ankara is focused on upgrading the pseudo-state and preparing for recognition.

UAE tourist arrivals to Cyprus increase , — ministry sees potential in Middle East and Asia

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UAE tourist arrivals to Cyprus increase , — ministry sees potential in Middle East and Asia

The United Arab Emirates tourist market for Cyprus is steadily rising, with a 14% increase in arrivals from the UAE last year. Meetings were held with airlines and travel agents to increase tourist flows from the UAE and Middle Eastern countries. Discussions also focused on strengthening demand from India and forming strategic partnerships with the UAE in the investment sector.