Reese Witherspoon's Hello Sunshine has reportedly eliminated around 30 positions, affecting nearly half its workforce, following its reacquisition by Witherspoon and Mediawan.
Crypto exchanges are taking quick action to bolster their defences and urging greater industry-wide information-sharing after a record $6.3 billion hack of Binance exposed their vulnerability just as they become more embedded in mainstream finance.
Coinbase said it made adjustments to its systems that store cryptocurrency keys offline “solely out of an abundance of caution”, while Kraken said it was monitoring industry incidents for lessons it could apply to its defences.
But the industry will need to move urgently, analysts and industry executives said, as United States President Donald Trump’s regulators promote deeper integration of digital assets into the financial system, raising the stakes for an industry with a history of big hacks.
“For crypto to reach its full potential, the security situation must be addressed immediately,” said Chris Perkins, Franklin Templeton’s head of crypto.
Binance, the world’s largest crypto exchange, halted withdrawals after Thursday’s attack, which analysts blamed on North Korea and said it would use company funds to cover the losses.
Binance co-CEO Richard Teng said on X that the complex attack may have begun with a compromised software engineer’s laptop, giving hackers access to systems used to process withdrawals. The company later found additional breaches, while software designed to erase traces of the attack hampered the investigation.
Rival crypto exchanges moved quickly on Friday to shore up their own systems and to reassure customers that their tokens were safe. Full-time teams at Kraken look for potential vulnerabilities every day, a Kraken spokesperson said.
Still, even as the industry reeled from the biggest cryptocurrency heist of all time, executives expressed confidence that Binance had sufficient resources to cover the losses and that the hack would not have broader financial repercussions.
Bitcoin fell more than 4 per cent on Thursday while ether, the second-largest cryptocurrency, fell more than 5pc, although both tokens recovered some of that ground on Friday.
“Our expectation is the industry writ large will actually not suffer material losses, even though Binance is obviously going to have to deal with the exploit directly,” said Josh Riezman, chief legal and strategy officer at crypto firm GSR.
The bulk of the heist unfolded in around 20 minutes late on Thursday and bore similarities to previous attacks blamed on North Korea, according to US blockchain analysis firms TRM Labs and Chainalysis.
North Korea routinely denies involvement in cryptocurrency thefts, and its mission in Geneva did not respond to requests for comment.
Hack involves social engineering, money laundering
While much remains unclear, social engineering, a common tactic in which hackers trick victims into revealing sensitive information or granting access to systems, may have been involved in compromising the laptop, security experts said.
Harry Donnelly, CEO of Circuit, a crypto risk infrastructure company, said companies are planning more employee training to guard against social engineering attacks.
In such attacks, hackers race to launder the funds before the exchange detects the breach and token issuers freeze assets.
Stablecoin issuer Tether said it had frozen nearly $1.57bn linked to Binance, while Circle said it froze $800 million. Bitcoin and ether cannot be frozen because no single entity controls the coins.
Chainalysis said the hackers appeared to be using sophisticated laundering patterns it had not seen before.
On Friday, some crypto exchange executives called for the industry to develop a coordinated hack detection system.
“We need a real-time alert system that allows participants to share information immediately when a hack occurs, coordinate a rapid response, and temporarily freeze suspected stolen funds,” said Star Xu, CEO of crypto exchange OKX, in a post on X.
GSR’s Riezman added that the Binance hack could spur the industry to act: “As we’re at this kind of confluence moment for traditional finance and digital assets, I think it’s obviously important that we continue to improve, and I think this, if anything, will be a catalyst for that.”
Virgin Media O2 could eliminate up to 4,000 positions, equivalent to approximately 25% of its workforce, as part of a major restructuring. The reported cuts are expected to focus mainly on...
The wider digital purchases are primarily concentrated in consumables and services, with a share of 39.68%, followed by durable goods at 23.3%, while purchases of food items remain comparatively...
The government’s fortnightly review raised the export levy on diesel to ₹11.5 per litre from ₹8.5 and on aviation turbine fuel to ₹11 per litre from ₹10.5, while India’s diesel exports touched 700 kilo barrels per day in October, the highest since September 2025, according to Kpler
London Paddington and Birmingham New Street stations will shut for five days but most routes will stay open
Passengers travelling on some of Great Britain’s busiest railway lines at Christmas have been warned of significant disruption from 10 days of engineering works.
Work will close London’s Paddington station – affecting intercity trains to the west of England and Wales until January – as well as Birmingham New Street, the UK’s busiest station outside the capital, for five days over the holiday period.
The Limassol Chamber of Commerce and Industry (Evel) has called on the government to provide clear answers and a binding timetable for the development of the Pentakomo Science and Technology Park, expressing growing concern over what it describes as continued stagnation and a lack of information about the project.
In a statement, the chamber said the project was of strategic importance for both Limassol and the wider Cyprus economy, warning that the absence of progress and official updates was raising questions about the authorities’ commitment to taking it forward.
The chamber described the proposed park as “a project with enormous development prospects, which can act as a catalyst for attracting investment, developing research and innovation, creating highly specialised jobs and further strengthening the competitiveness of our country”.
It said the need to advance the project had become more pressing given Limassol’s growing presence in the technology and innovation sectors.
The city has been developing into an important regional technology hub, attracting start-ups, international companies and investment in digital services and innovative technological applications, the chamber said.
It also pointed to figures showing that the technology and innovation sector contributes more than 16 per cent of Cyprus’ gross domestic product (GDP).
Limassol is also among Europe’s top 10 cities for start-ups, according to the StartupBlink Global Startup Ecosystem Index 2026, the statement added.
These developments underline the need for appropriate infrastructure to support the city’s further growth, Evel said.
“The Pentakomo Technology Park can act as a catalyst for connecting entrepreneurship with research, technology and innovation, creating new investment opportunities and jobs with high added value,” it said.
However, the chamber expressed concern that the deadline for applications to find a strategic investor expired on January 28, 2026, without any subsequent comprehensive official update on the outcome of the process or the next steps.
“To date, there has been no official and comprehensive update on the results of the process, or on the actions planned next,” it said.
“This is causing even greater concern, particularly since Evel has repeatedly submitted requests to the competent ministry without so far receiving the necessary clear answers,” it added.
The chamber said the situation could not continue, arguing that the lack of information and a concrete plan raised legitimate questions about the authorities’ willingness and determination to move the project forward.
It called on the responsible ministry to publicly clarify the current stage of the search for a strategic investor, the outcome of the invitation that closed on January 28, 2026, and the reasons no substantive update had been provided.
Evel also wants the ministry to explain whether any obstacles, weaknesses or problems have emerged in efforts to attract investors.
If such difficulties have been identified, the chamber is seeking details of what they are and what specific measures the ministry intends to take to address them.
It is also demanding a clear and binding implementation timetable, including when the next procedural steps are expected to be completed and when the project is forecast to enter its operational phase.
“The period of general assurances and vague references has now been exhausted,” the chamber said, adding that what was needed was “political will, institutional responsibility and, above all, specific decisions and action”.
Evel concluded by calling for immediate and official information, clear answers to all the questions raised and a firm timetable for advancing the project.
Voters under 50 probably won’t remember the “welfare queen”. But she once embodied Republicans’ claim of the underlying reason for US societal decay: the poor are a bunch of fraudsters.
Ronald Reagan introduced Linda Taylor to US voters at a rally during the Republican presidential primary season in 1976. A resident of Chicago’s South Side, Taylor had been arrested for welfare fraud. “She used 80 names, 30 addresses, five phone numbers to collect food stamps, social security, veteran’s benefits for four non-existing deceased veteran husbands,” Reagan said. “Her tax-free cash income alone has been running $150,000 a year.”
The Qatari government gifted him a luxury jet, potentially violating the emoluments clause of the constitution.
The UAE gained access to some tightly guarded, high-end American AI chips soon after an investment firm linked to its ruling family secretly bought a $500m stake in World Liberty Financial, the crypto company funded by the families of Trump and his chum Steve Witkoff.
Rich people facing criminal charges have taken to donating to Trump’s political operations and then seeking pardons or clemency. Most recently, Wanda Vázquez Garced, the former governor of Puerto Rico, and the banker who paid her bribes, Julio Herrera Velutini, were pardoned after Velutini’s family gave a $50m deal to Alina Habba, Trump’s former personal lawyer, and donated $3.5m to Trump’s Maga Inc Super Pac.
The first family is also making a killing from the government. The Pentagon lent more than $600m to Vulcan Elements, a rare earths startup, just three months after Donald Jr’s venture capital firm 1789 Capital bought a stake in the outfit.
Powerus, a drone maker backed by Eric and Donald Jr is selling drone interceptors to Persian Gulf allies of the US that are under attack by Iran, enriching the kids from a misbegotten war launched by the dad without consulting Congress.
Cyprus recorded higher government revenues and expenditure during the first nine months of 2026, while the implementation of development spending accelerated compared with previous years, according to a report published on Friday by the Treasury.
The government collected €7.51 billion in revenue between January and September, equivalent to 70 per cent of its full-year budgeted income, while actual expenditure reached €7.01 billion, representing 61 per cent of the annual spending allocation.
The figures mean that government revenues exceeded expenditure by approximately €500 million during the period, before accounting for borrowing-related cash flows.
Compared with the corresponding period of 2025, revenues increased by €670 million, while expenditure rose by €410 million.
The report also highlighted an improvement in the pace of development spending, with 44 per cent of the annual allocation implemented by the end of September, compared with 41 per cent during the same period last year and a 10-year average of 36 per cent.
Of the €1.62 billion allocated for development expenditure in the 2026 budget, €711.6 million had been spent by the end of September.
Higher tax revenues drive government income
The increase in government revenue was primarily driven by stronger collections from direct and indirect taxation.
Direct tax receipts increased by €480 million, or 17 per cent, compared with the first nine months of 2025, reaching €3.05 billion from €2.58 billion.
The increase was mainly attributable to higher income tax collections from both individuals and companies, which together rose by €470 million.
Indirect taxes increased by €250 million, or 8 per cent, reaching approximately €3.25 billion.
This was largely due to higher value added tax (VAT) receipts, which rose by €270 million, from €2.29 billion in 2025 to €2.56 billion in 2026.
Overall, the increase in tax revenues more than accounted for the rise in government income during the period.
Where government money is going
Total government expenditure increased from €6.60 billion in the first nine months of 2025 to €7.01 billion this year.
The largest spending category remained salaries, pensions and gratuities, which were unchanged at €2.45 billion compared with the corresponding period last year.
Spending on social benefits increased by €100 million, or 7 per cent, reaching €1.47 billion, compared with €1.37 billion in 2025.
The Treasury attributed the increase mainly to higher healthcare benefits, which rose by €40 million, while education and social welfare benefits each increased by €20 million.
Transfers and grants also increased, reaching €1.42 billion compared with €1.31 billion a year earlier, representing a rise of €110 million, or 9 per cent.
This was mainly driven by a €30 million increase in the general government contribution to the Social Insurance Fund, which reached €530 million from €500 million.
The contribution linked to the European Union’s gross national income-based own resource also increased by €70 million, reaching €230 million from €160 million.
Operational and other expenditure rose by €150 million, reaching €740 million compared with €590 million in 2025.
The increase included an additional €70 million for defence and policing, bringing spending in that category to €250 million from €180 million.
General operating costs increased by €30 million, reaching €250 million, while expenditure on consultancy services and research rose by €20 million to €70 million.
Compensation payments and legal expenses also increased by €20 million, reaching €40 million.
Meanwhile, government financing costs amounted to €460 million by the end of September, slightly below the €480 million recorded during the same period of 2025.
These costs cover interest payments and related expenses.
Development spending gathers pace
The report’s development expenditure figures provide a breakdown of how public investment and other development-related allocations have been used.
Capital expenditure reached €243.6 million by the end of September.
The largest component was spending on the road network, which amounted to €49.3 million, followed by construction projects at €39.5 million.
Government spending on land and buildings reached €24.5 million, while €23.1 million went towards the construction, extension and improvement of government buildings.
Equipment purchases accounted for €22.6 million, while the acquisition of other assets amounted to €19.9 million.
A further €18.1 million was spent on sewerage and water systems, while school construction, extensions and improvements accounted for €16.3 million.
The purchase of fixed and mobile machinery amounted to €11.6 million.
A separate €216.6 million was spent on co-funded projects and other financing expenditure.
The largest allocation in this category, €93.7 million, concerned co-funded projects implemented by non-governmental services.
Projects financed through the EU’s Internal Affairs Funds accounted for €18.8 million, while the Industry and Technology Service Scheme also received €18.8 million.
The scheme subsidising childcare fees and meals for children up to four years old accounted for €15.7 million, while the Sustainable Urban Mobility Promotion Scheme received €8.8 million.
Other expenditure included €7.5 million for the Save and Upgrade Homes scheme, €6.3 million for initiatives addressing skills mismatches, introducing a new evaluation system and supporting digital transformation, and €5.5 million for European competitive programmes.
Co-funded construction projects accounted for €4.8 million, while €4.7 million went towards promoting electric mobility and €4.1 million towards supporting new business activity.
Grants, contributions and subsidies amounted to €168.3 million.
The University of Cyprus received the largest share, at €93 million, followed by the Cyprus University of Technology with €48.4 million.
The Open University of Cyprus received €9.1 million, the Cyprus Institute €5.8 million and the Cyprus Institute of Neurology and Genetics €4.8 million.
A further €40.9 million was allocated under development-related social benefits.
This included €21.9 million for education and healthcare benefits, €7.9 million for a grant to the Renewable Energy Sources and Energy Conservation Fund, €7.1 million for cultural benefits and €2.5 million for housing benefits.
Full-year budget projects higher revenues and spending
The Treasury also outlined the overall financial framework for 2026, which is prepared on a cash basis, meaning it records money received and paid during the period.
The state’s full-year budget projects revenues of €10.78 billion, representing a 5 per cent increase from €10.31 billion in 2025.
Total expenditure is budgeted at €11.53 billion, up 4 per cent from €11.13 billion last year.
The projected increase in revenues is mainly attributed to an additional €130 million in direct taxes and €330 million in grants.
On the expenditure side, the largest contributor to the planned increase is operating costs, which are expected to rise by €320 million.
The budget also provides for borrowing-related inflows of €1.9 billion and outflows of €2.28 billion.
Separately, the actual borrowing-related inflows during the first nine months of 2026 amounted to €1.35 billion, compared with just €70 million during the corresponding period of 2025.
Borrowing-related outflows reached €2.14 billion, compared with €160 million a year earlier.
The figures reflect the substantial movement of government borrowing and debt repayments during the period, which are recorded separately from ordinary government revenue and expenditure.
Indeed, the report shows that tax collections have strengthened, public spending has increased and development projects are being implemented at a faster pace than in previous years, with nearly half of the annual development budget already used by the end of September.
For founders in Cyprus, turning an idea into a business involves more than developing a product. It means testing demand, protecting intellectual property and finding customers and funding. The island’s incubators, accelerators and Research and Innovation Foundation (RIF) help teams navigate these steps, offering different forms of support as they prepare to enter the market.
Let’s examine Cyprus’0 accelerator and incubator scene. Behind the workshops and pitch events sits a more demanding task: helping someone turn a technology, research finding or business idea into something customers will pay for.
Across the island, organisations approach that task differently. Some work with academics before a company exists. Others help founders test products, prepare for investment or enter international markets. Understanding those differences matters more than treating every programme as the same kind of support.
Starting with research
For researchers, the first commercial question may be who owns an invention, rather than how to pitch it.
The Central Knowledge Transfer Office (CKTO) provides free services to research organisations, startups, SMEs and large enterprises. These cover intellectual property ownership, patent landscaping, protection strategies, commercial opportunity assessments, technology marketing and support with negotiating agreements.
For a research team, this can mean understanding competing patents, identifying a potential licensee or preparing the terms of a commercial collaboration. A separate RIF IP Voucher Programme offers up to €10,000 towards intellectual property protection costs.
RIF says the CKTO has supported 364 researchers and innovators since its establishment in March 2023 under the National Recovery and Resilience Plan.
Cyprus Seeds works at a related stage, helping academic teams bring research closer to market. Its 18-month programme combines grants, mentoring, training and connections with industry and investors.
Gravity Ventures describes itself as a venture-building incubator, supporting founders from early development towards mature businesses. Its offering spans idea validation, business modelling, product design, prototyping, testing, intellectual property and commercialisation. The emphasis is on working through the steps of building a venture, including the product itself. Almost all their portfolio started from research and many of them build hardware plus software.
Building and testing
Once a team begins developing a product, access to technical expertise becomes more important.
Cyens Techub connects entrepreneurs with the Cyens Centre of Excellence in Nicosia. Its services include coworking, consultancy, contract research and access to laboratories. This gives its role a technical dimension alongside business support, allowing founders to draw on research capabilities as they develop and test their ideas. Furthermore, they have the support of EIT Community in Cyprus to access global knowledge and other European networks.
IDEA Innovation Centre, founded in 2015, offers a structured nine-month route. Its programme begins with three months of acceleration, followed by six months of incubation for teams that pass a formal evaluation. The support package includes €20,000 in seed capital, training, mentoring, business consultations and professional services. During incubation, founders work towards finalising their minimum viable product and accessing the market.
The Startup Centre powered by Microsoft at European University Cyprus adds another university and industry connection. The university’s 2026 EUC Startup Programme announcement targets Cypriot startups beyond the idea stage, combining training, mentoring, networking and Microsoft-related resources. Its stated focus is on strengthening business models, improving market readiness and supporting growth.
These approaches address different needs. A team requiring laboratory expertise faces a different problem from one that already has a working product but needs help organising its finances or reaching customers.
Preparing for customers and capital
ARIS, established in association with Deloitte, runs a 26-week acceleration programme for startups and scale-ups. It prioritises business-to-business solutions in renewable energy, shipping, IT and fintech, while accepting other technology businesses with international growth potential. Applicants are expected to have a minimum viable product ready for market. Support focuses on refining business models, testing products, commercialisation and financial planning.
Elevate Bootcamp advertises a 13-week accelerator centred on market validation, mentoring and fundraising preparation. Its programme includes experiments with potential customers, pitch preparation and investor connections. The distinction for founders is practical: investor introductions can create opportunities, but securing investment still depends on the business and the investor’s decision.
KPMG’s Startup Innovation Lab provides another form of support. Its published services range from business plan preparation and business model validation to valuations, fundraising readiness and growth strategy. Workshops and mentoring sit alongside access to KPMG’s investor network. This places it within the wider startup support scene, with an advisory offering extending from pre-seed businesses to companies preparing for a potential listing.
International connections
For some founders, Cyprus is also a base from which to enter another market.
AUB Mediterraneo Innovation Centre in Paphos connects the local scene with AUB’s wider entrepreneurship network. Its published description covers incubation, acceleration and growth support for AUB-affiliated startups. The Cyprus Growth Programme gives this work a cross-border dimension.
AAlchemy Growth Lab combines founder mentoring and investment preparation with practical support for establishing and expanding a business in Europe. The offering reflects the operational work that accompanies international expansion, beyond developing a product or presenting a pitch.
Founder Institute Cyprus brings a global accelerator network into the local scene. Its hybrid programme combines online and in-person sessions, structured growth sprints, weekly deliverables and mentor feedback. The model gives founders a timetable against which to test assumptions and develop their businesses, alongside connections within Cyprus and the wider network.
Gaming also has dedicated accelerator support in Cyprus. LVLUP, launched in 2024 by Google for Startups, NVO Lab and GameDev Cyprus, was designed to help gaming studios and technology startups through mentoring, business development and fundraising support.
Narwhal Accelerator, whose founders are based in Paphos, supports PC, console, mobile and gaming technology businesses, combining investment with product reviews and introductions to publishers and investors.
Fintech and blockchain founders also have access to more specialised support. Plug and Play Cyprus includes fintech and regtech among its accelerator’s focus areas, combining mentoring with corporate and investor connections. The University of Nicosia’s Blockchain Tech Academy and Incubator Programme takes a more technical approach, offering early-stage Web3 teams training, mentoring and links to blockchain platforms.
Chrysalis LEAP supports early-stage teams through an accelerator that combines training, coaching, mentoring and access to a network of collaborators. Its published programme accepts businesses across sectors, including cleantech, fintech, artificial intelligence and health technology.
What comes after the programme
Taken together, these organisations offer several possible routes into entrepreneurship. They also show why founders need to look closely at programme fit. Research commercialisation, product development, business advice and fundraising preparation involve different skills and timelines.
The next test for Cyprus is how effectively those routes connect. A research team may need intellectual property advice first, prototype support next and an industry customer later.
A useful measure of success is what happens after the final presentation: a licensing agreement signed, a product tested with a customer, an investment completed or a business earning revenue abroad. Those outcomes give the accelerator and incubator scene its economic value.
Reported results show the scale of support already delivered. IDEA Innovation Centre’s published figures record 105 startups admitted, 60 graduated and more than 270 entrepreneurs supported.
ARIS had supported more than 35 startups by April 2025.
Gravity reports that its incubator has invested in and supported more than 20 startups over an eight-year period.
Cyprus Seeds reported supporting 24 scientific teams across four programme cycles and awarding €1.4 million in grants.
Cyprus has reasons to be optimistic. Its startup support organisations are helping founders build companies, researchers commercialise their work and teams reach customers abroad. The opportunity now is to strengthen the connections between these programmes, investors and industry.
With sustained support and a focus on commercial results, more ideas developed in Cyprus can become businesses that create skilled jobs and compete internationally.
Working at height remains the most frequent cause of workplace accidents in Cyprus, the Labour Inspection Department has warned, following a serious incident at a factory in Larnaca that left a 31-year-old worker critically injured.
Deputy director of the Labour Inspection Department Tasoula Kyprianidou told the Cyprus News Agency (CNA) that safety precautions are frequently overlooked during smaller-scale jobs, even though the same protective measures are necessary regardless of the size or duration of the work.
The latest accident happened on Thursday afternoon, when three people were carrying out improvement works involving the installation of metal sheets on a shelter at a height of six metres.
The 31-year-old was critically injured in the incident, the precise circumstances of which remain under investigation.
Kyprianidou said investigators were examining whether any shortcomings in workplace safety measures had contributed to the accident.
She stressed that even relatively minor tasks must be accompanied by all necessary precautions, including the use of safety harnesses and protective structures to prevent falls.
Inspectors from the Labour Inspection Department responded immediately after the incident to examine the scene and prevent it from being disturbed before evidence could be collected.
Their initial work involved documenting the conditions at the site and gathering accounts from people who had been present, Kyprianidou said.
She also highlighted the department’s limited inspection resources, explaining that it currently employs 23 inspectors covering all districts.
These inspectors carry out an average of approximately 5,000 inspections annually.
To date, the department has conducted inspections at 47,000 of the country’s approximately 130,000 workplaces and other premises eligible for inspection.
Asked whether more inspectors were needed, Kyprianidou said the need to strengthen the department had already been recognised, with the approval process for 15 additional positions having moved forward.
She added that inspections were only one aspect of the department’s work, with raising awareness and developing a stronger culture of workplace safety also central to its responsibilities.
The warning comes amid a series of serious workplace accidents recorded in Cyprus in recent weeks.
Since mid-September 2026, three serious workplace accidents have been reported, one of which proved fatal.
The other two resulted in four people being seriously injured and requiring hospital treatment.
Alongside the investigation into Thursday’s accident in Larnaca, authorities are also investigating an incident in Strovolos on October 9, which left three workers injured.
Despite these incidents, Kyprianidou pointed to a positive longer-term trend in workplace safety.
According to figures available to the Labour Inspection Department, the accident rate involving workers absent for more than three days has declined over the past decade.
Nevertheless, the latest incidents underline the continuing risks faced by workers, particularly when carrying out tasks at height and when basic protective measures are overlooked.
The Salesforce statement issued on Saturday said the company does not comment on specific customer issues as a matter of policy and that its teams are proactively engaged to support customers as...
Charles Hanna, the CEO of Cedar's Foods, shares a day in his life.
Courtesy of Cedar's Foods
This as-told-to essay is based on a conversation with Charles Hanna, the CEO of Cedar's Foods, based in Haverhill, Massachusetts. The following has been edited for length and clarity.
When my father came to the United States from Lebanon in the 1960s, he fell in love with this beautiful country. In 1981, he decided to start a hummus company, even though it was not yet common in the US. When he told my mother, she called her sister and said, "My husband is going crazy. Who is going to buy hummus?"
My mother made samples, which my father would take to the market. Some people would accept, and others wouldn't, until he called a local grocery store called Market Basket. The man he spoke to happened to know about a great Lebanese restaurant that served hummus, so he decided to give it a shot. My father was very happy.
In the '90s, my father asked me for help in running the business. At the time, I had no clue I would be so deeply involved. I had other plans, like maybe running a restaurant, but I wanted the business to succeed and make my father proud. I remember him telling me one thing: to make sure that when we made the product, we made it of the highest possible quality.
I took that to heart.
At that time, I never took a holiday. Sometimes I'd stay at work until 3 a.m., thinking about how I was going to run the business because I had no experience. I drove one of the delivery trucks and spent a lot of time selling the product because I'd never hired a broker.
I took over our small business as an owner in the mid-2000s, and finally had to list myself as CEO in the early 2010s once the company grew and I needed a title when working with the bank.
Today, we're one of the world's largest hummus producers, and my day-to-day is heavily involved in all aspects of the business. Here's a day in my life.
I wake up around 6 a.m. every morning without an alarm
Music is a big part of my mornings and when I get ready for the day. I love all kinds of music, especially old French songs and classics. It puts me in a good mood, and I honestly don't know how to be in a bad mood. I wake up happy, and I try to carry that positive energy into work.
After my workout and a light breakfast, I head to work
When I open the door to the office and see my people inside, it's the best feeling in the whole world. We go up to the executive offices and sit down to talk and joke. Our president and COO, Nick Scangas, makes me one of his Greek coffees, or we might have some cookies made with his mom's recipe.
Then, we get serious. I'm involved in marketing, finance, and sales. I've done it all. I'm very detail-oriented, so I like to look at the numbers and analyze them.
I've never had an assistant or wanted one. I respond to emails and WhatsApp messages all throughout the day; I believe the more I'm involved and using my brain, the better. The only thing I can't do is cook, but I have a good taste in product.
One of the first ideas I had was to flavor the product rather than just make original hummus. My father initially told me no because the original recipe was our traditional product, but I convinced him to let us try garlic and red pepper.
Today, we've created many more flavors — lemon, chocolate, even hot honey — because I've always believed everybody has a different taste, and if you have a healthy base product, people should be able to enjoy it in different ways.
Hanna is involved in various aspects of the business — except for cooking.
Courtesy of Cedar's Foods
I also spend a lot of time on humanitarian projects, like supporting our local YMCA and funding students' education in Lebanon, which are extremely important to me.
One of my favorite parts of the day is going downstairs and talking with everyone
I'll listen to music, chat with employees, and see how they're doing because, in the end, we're all people.
My team and I go out for lunch together. I like going to 99 Restaurants; my team doesn't love it as much as I do, but they'll come along.
When I was younger, I loved volleyball and would play every day. I believe in running a business like a team — just like when I'd played volleyball. I've never believed in somebody being in total control. You have to surround yourself with strong people.
We've built this company to feel like a family, and many of our employees have been with us for years. We have an incredible executive team, and everybody brings something different to the company. I have many meetings every day with different team members — either in person or on conference calls.
You'll never find me sitting at the head of the conference table; I sit around it with my team because I think it signifies that everyone can have their own input and ideas. If you stay within the team and nobody's better than anybody else, you're going to make the best team ever.
After work, my house is filled with family and friends
In the afternoon, I leave the office, and my home is open. About 30 people come over every day — my uncles, cousins, friends — everybody. I have a huge family. It's like a tribe of 200 people in the area between New Hampshire and Massachusetts.
Hanna enjoys hosting his family and friends in the evenings.
Courtesy of Cedar's Foods
Having that time with them is extremely important. We play cards or watch football or basketball. Everyone loves the Celtics and the Patriots.
I also love karaoke. If you wanted to categorize me or my life as a song, it would be Frank Sinatra's "My Way." Every word of that song is my life. I have to sing it at least three times a week. I also like "How I Love You" by Engelbert Humperdinck, and I'm working on some others. I'm not a star, but I do- have a good voice.
I'm always coming up with new ideas
Even with my hobbies and spending time with family, if I'm awake, I'm thinking about how I can better the business. I always want our customers to walk down the refrigerated aisle and find something new.
While innovation has always been important to me, I've never believed success comes from fighting your competition. We want the whole industry to grow because when more people discover new food products, everybody benefits.
A lot of the way I think about success goes back to my family's story. Whether I'm in the office or outside, this company is my life.
I sleep around 11 p.m. or midnight
Most nights, I watch a movie, although occasionally, I watch the news. I go to bed around 11 p.m. or midnight, before I wake up and do it all again the next day.
I believe if you don't have bad intentions toward anyone, you'll sleep well, wake up positive, and enjoy your day. That's how I've always tried to live my life.
What motivates me today is the same thing my father taught me years ago: make the highest-quality product possible and treat people the right way.
If one day I can't improve this company anymore, then somebody else should be CEO.
When people remember me, I don't want them to remember how much money I made. I want them to remember that I was a good person.
LAHORE – Another blow to Pakistanis as Oil and Gas Regulatory Authority (OGRA) jacked up the price of LPG by Rs14.73 per kilogram.
With new price revision, the price of 11.8kg domestic LPG cylinder has been increased by around Rs175. After the increase, the new price of a domestic cylinder has been set at Rs3,470.09.
LPG
October
New rate
LPG per kilogram
Rs279.34
Rs294.08*
Domestic cylinder (11.8kg)
Rs3,296.23
Rs3,470.09
November prices are Rs877.90 higher than January’s, showing an increase of approximately 33.9% since the beginning of the year.
The timing is important because LPG consumption typically increases during winter, particularly in northern Pakistan and communities without reliable piped natural gas.
Commercial users may face higher operating costs, potentially leading to more expensive food and beverages. Residents in Lahore and other areas without sui gas could face a particularly difficult winter.
Pakistan’s notified LPG prices reflect several components, including the international Saudi Aramco contract price, the dollar exchange rate, producer costs, petroleum levy, GST, and permitted marketing, distribution and transportation margins.
Eurobank has brought forward its interim dividend payment date to November 26, 2026, with the Greek banking group also revising the associated record and cut-off dates, according to an updated financial calendar published on Friday.
The revised calendar sets November 23, 2026, as the cut-off date for eligibility for the interim dividend for the 2026 financial year, followed by November 24 as the record date for beneficiaries.
The interim dividend will be paid from November 26, replacing the previously announced schedule.
Eurobank said the changes followed an earlier announcement made on September 3, 2026, and that the revised dates remained subject to compliance with the applicable legal and regulatory framework.
The bank also reserved the right to change the dates, provided it gives the investment community timely notification.
The updated calendar comes after Eurobank announced its nine-month financial results on Friday, reporting adjusted net profits of €1.21bn, an increase of 14.3 per cent year-on-year.
Reported net profit rose by 12.4 per cent to €1.16bn, while earnings per share reached €0.31 and return on tangible book value stood at 16.9 per cent.
Operations outside Greece generated adjusted net profits of €555m, representing 45.9 per cent of the group’s total. Cyprus contributed €356m, down 3.9 per cent year-on-year, while Bulgaria recorded €182m, an increase of 9.2 per cent.
Eurobank chief executive officer Fokion Karavias said the results had been achieved against an international backdrop of energy and inflationary pressures, alongside growing concerns over government deficits and public debt.
“As Europe faces a severe energy and inflationary crisis with far-reaching political and social consequences, markets have brought concerns over fiscal deficits and rising public debt into focus,” he said.
The financial calendar also sets out the bank’s remaining reporting and shareholder dates for 2026. The next major event is the interim dividend payment on November 26, while the calendar lists no further financial results announcements for the year.
Eurobank said the revised dates would be communicated to investors in accordance with its obligations under the relevant legal and regulatory requirements.
Cyprus’ startup ecosystem is supported by a mix of venture capital funds, crowdfunding platforms, corporate investors and accelerators, each addressing different obstacles facing young businesses, from securing early funding to finding customers and expanding abroad.
Kinisis Ventures, 33East, Crowdbase, ASBIS, Galactic Beacon, and Innoport illustrate the range of approaches available, including investment in technology companies, access to international business networks and funding from a wider pool of investors.
Their roles differ, but collectively they reflect an ecosystem increasingly focused on helping companies move beyond the early development stage and build commercially viable businesses.
Kinisis Ventures: funding with an international growth focus
Kinisis Ventures was established to help early-stage businesses with links to Cyprus develop products and compete internationally, particularly in the United States.
Its first fund, Kinisis Venture Fund I, was described as Cyprus’ first regulated venture capital fund focused on locally registered startups with international growth potential.
The firm’s second fund, KV Fund II, is actively investing in pre-seed and seed-stage businesses, with typical investments of €300,000 to €500,000.
Beyond capital, Kinisis offers strategic guidance, business connections and support with commercial expansion, drawing on its presence in Cyprus and the United States.
Its portfolio spans areas including three-dimensional technology, biomaterials, sensors and robotics, with its investment in Cyprus-based automation company Autonomics illustrating its focus on technology with commercial applications.
33East: early-stage investment and acceleration
33East is a Cyprus-focused venture capital firm established to address a shortage of private investment for young companies.
Its inaugural fund completed a second closing in January 2026, reaching €35 million, according to the firm’s published update.
The fund backs pre-seed and seed-stage companies with a connection to Cyprus, providing funding alongside practical support with hiring, product development, strategy, branding and subsequent fundraising.
Its investment approach is sector-agnostic, with a preference for businesses built around technology and capable of expanding into international markets.
An additional acceleration component is intended to support entrepreneurs at an earlier stage, when they may need funding to develop and test an initial business concept before seeking a larger investment.
The fund has also backed Cyprus-founded businesses pursuing international expansion, including Piney, which is seeking to grow in the United States.
Crowdbase: opening investment to a wider community
Crowdbase offers a different route to funding by connecting businesses seeking capital with investors through an online crowdfunding platform.
The company received authorisation from the Cyprus Securities and Exchange Commission (CySEC) and subsequently obtained a European crowdfunding licence, allowing it to serve a wider pool of investors and businesses.
Its campaigns have covered startups and property projects, demonstrating how crowdfunding can provide an alternative to relying exclusively on venture capital funds or traditional bank finance.
Early campaigns included easyBoat, which raised €469,718 from 141 investors, and Snap, which secured €212,061 from 44 investors.
Crowdbase also says its team invests alongside the community in each campaign, giving it a direct financial interest in the projects it supports.
The model can help smaller businesses reach investors who might otherwise struggle to access early-stage investment opportunities, although crowdfunding carries risks and investors may lose some or all of their capital.
ASBIS: corporate investment and accelerator support
Technology distributor and solutions provider ASBIS contributes through both direct investment in innovative companies and practical support for startups.
Its corporate investment portfolio includes businesses working in areas such as medical diagnostics, robotics, smart devices, environmental technology and artificial intelligence.
This provides a route for technology companies to benefit from an established business with international distribution capabilities and experience bringing products to market.
In April 2026, ASBIS announced that it had become a founding corporate partner of Plug and Play Cyprus, joining Tototheo Global, Mastercard and ECOMMBX in an initiative launched with the Cyprus government to help promising local startups grow and expand into international markets.
The programme was designed to combine acceleration support with access to business networks and market expertise, focusing on sectors including financial technology, regulatory technology, gaming, shipping and energy.
ASBIS’ contribution therefore extends beyond providing funding, connecting emerging companies with potential commercial applications and international markets.
Galactic Beacon: investment linked to maritime and industrial expertise
Galactic Beacon Ventures is the venture capital arm of Cyprus-headquartered Columbia Group, drawing on its parent company’s experience and connections across maritime services and other industries.
The venture aims to help turn new ideas into viable businesses, offering support from the initial assessment of a concept through financial planning, investment and strategic guidance as a company grows.
Its stated areas of interest include maritime, logistics, energy and leisure, sectors where access to established businesses and industry expertise can be particularly valuable for young technology companies.
The link to Columbia Group gives the investment arm access to an existing network of clients, partners and industry contacts, potentially helping portfolio businesses test products, develop partnerships and reach customers.
Its approach illustrates how established companies can use venture investment to support innovation relevant to their own industries while helping entrepreneurs develop commercially sustainable businesses.
Innoport: bringing investment into shipping and logistics
Innoport is the venture capital arm of the Schulte Group, an international maritime business, and invests in early-stage companies developing technology for shipping, logistics and related industries.
It combines funding with specialist knowledge of maritime operations, helping founders refine business models, develop growth strategies and explore potential pilot projects or commercial partnerships.
The firm invests internationally, particularly across Europe and Asia, and seeks to connect portfolio companies with the Schulte Group’s global network.
Its portfolio includes businesses working on digital shipping applications, container trading and logistics, illustrating how venture capital can support innovation in industries where technical expertise and access to established customers are important.
With investment team members based in Cyprus, Innoport also provides a local connection to international maritime technology investment, although its focus is global rather than exclusively on Cypriot startups.
Intercity train operator’s compensation bill likely to top £70m this financial year amid rise in claims across network
Avanti West Coast paid out more than £20m to passengers in just three months this summer in refunds for disrupted journeys on Britain’s main intercity rail network.
The intercity operator paid out almost as much in a four-week period to 25 July – £9.3m – as its annual profits for each of the past two years. It repaid a further £12.2m in the subsequent eight weeks.
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