India's NSE and Cyprus Stock Exchange sign MoU to boost cross-border investments
Nicosia [Cyprus], June 16 (ANI): In a significant step towards strengthening economic ties between India and Cyprus, the NSE International Exchange at GIFT City, Gandhinagar, and the Cyprus Stock Exchange signed a Memorandum of Understanding (MoU) to enable dual listings and promote collaboration in financial research and outreach programmes.
Ashish Kumar Chauhan, MD & CEO of the National Stock Exchange (NSE), told ANI that the MoU will help create new opportunities for cross-border investments and connect European companies with India through GIFT City.
'NSE International Exchange at GIFT City, Gandhinagar, which is India's face to the world, and Cyprus Stock Exchange, to do dual listing as well as research and outreach programmes on various financial instruments to create collaboration between European companies and GIFT City, Gandhinagar. This is going to open a new chapter in Cyprus-India relations going forward,' he stated.
The initiative aims to benefit investors in both Cyprus and India and encourage cross-border capital flows between the two regions.
The agreement was signed during Prime Minister Narendra Modi's visit to Cyprus, where he held a roundtable interaction with Cypriot President H.E. Nikos Christodoulides and business leaders from both countries.
The meeting in Limassol brought together top names from various sectors such as banking, finance, defence, shipping, logistics, digital technology, artificial intelligence, tourism, and mobility.
During the visit, several other business outcomes were also announced. BAO Capital Partners Ltd, a Cyprus-based Alternative Investment Fund Manager, revealed that it has secured commitments exceeding USD 100 million for its flagship fund focused on India.
The fund will invest in public equities and emerging technologies aligned with the 'Make in India' initiative, especially in AgroTech, clean logistics, and drone applications, key sectors for improving rural productivity and sustainable growth.
Additionally, the National Payments Corporation of India (NPCI), through its international arm NIPL, signed an MoU with Eurobank of Cyprus. The agreement will help introduce India's Unified Payments Interface (UPI) services in Cyprus, enabling seamless cross-border transactions. This move is expected to benefit both tourists and businesses in the two countries.
These developments reflect the deepening of India-Cyprus economic relations and a shared commitment to expand partnerships in finance, innovation, and sustainable growth. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
24 minutes ago
- Time of India
UAE-based Indian doctor announces Rs 6 crore aid for Air India crash victims
UAE-based Indian doctor and philanthropist Dr Shamsheer Vayalil has announced Rs 6 crore in financial aid for the families of medical students and doctors affected by the Air India plane crash in Ahmedabad last week. The ill-fated aircraft struck the BJ Medical College's Atulyam hostel complex during lunch hour, reducing student residences and the dining hall to rubble. All but one of the 242 passengers and crew on board the Boeing 787-8(AI 171) and another 29 persons, including five MBBS students, on the ground were killed when the London-bound aircraft crashed, moments after it took off from the Sardar Vallabhbhai Patel International Airport. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo Announcing the relief from the UAE capital of Abu Dhabi, Dr Shamsheer, founder and chairman of Burjeel Holdings and managing director of VPS Health, said he was deeply shaken when he saw the aftermath of the crash. (Join our ETNRI WhatsApp channel for all the latest updates) As someone who had lived in similar hostels during his medical education at Kasturba Medical College in Mangalore and Sri Ramachandra Medical College in Chennai, the images struck a chord, he said. Live Events "I saw the footage from the mess and the hostel, and it truly shook me. It reminded me of the places I once called home, the corridors, the beds, the laughter, the pressure of exams, and the anticipation of a call from family," he said. "No one expects a commercial aircraft to come crashing into that world," he added. "Those students started the day thinking about lectures, assignments, and patients. Their lives ended in a way none of us could ever imagine. It hit close. Too close," he said. Dr Shamsheer's relief package includes Rs 1 crore for each of the four deceased students' families, Rs 20 lakh each for five seriously injured students, and Rs 20 lakh each for the families of doctors who lost loved ones. The financial assistance will be delivered in coordination with the Junior Doctors' Association at BJ Medical College, ensuring that those in need receive support swiftly. This is not the first time Dr Shamsheer has responded to such a crisis. In 2010, following the Mangalore air crash, he provided financial assistance and employment opportunities to affected families at Burjeel Holdings, a leading healthcare provider in the Middle East.
Time of India
25 minutes ago
- Time of India
Who is Luca de Meo, reported to be Kering's new CEO?
Gucci owner Kering is planning to appoint Luca de Meo , currently CEO of French carmaker Renault , as its new chief executive officer , according to a report in newspaper Le Figaro. Below are some facts about the potential new head of the French luxury group, whose brands include Gucci, Saint Laurent, and Bottega Veneta. Who is he? De Meo, 58, is from Milan, Italy, and has more than 30 years' experience working in the automotive sector . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Duong Bau Tram 1: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo He graduated from the Luigi Bocconi Commercial University with a degree in business administration. De Meo has been praised by commentators for his strategic vision and ability to revive struggling brands. He decided to step down from Renault to take on new challenges outside the automotive sector. Live Events Career De Meo began his career at Renault in the early 1990s, before moving to Toyota Europe in the late 1990s. In 2002, he joined the Fiat Group, where he held leadership roles across several brands including Lancia, Fiat, Abarth and Alfa Romeo. He played a key role in the relaunch of the Fiat 500 city car and the revival of the Abarth brand. In 2009, he moved to the Volkswagen Group as marketing director, a role that covered both the Volkswagen brand and the group as a whole. In 2012, he was appointed to the board of Volkswagen's premium brand Audi AG, responsible for sales and marketing. From November 2015 to January 2020, he served as chairman of Volkswagen's Spanish unit SEAT, overseeing a resurgence in the Barcelona-based company's sales and boosting its prominence within the Volkswagen group. He also sat on the supervisory boards of Ducati and Lamborghini, and chaired the board of Volkswagen Group Spain. In July 2020, he became CEO of Renault S.A., later also taking on the role of chairman and joining the company's board. He turned around the French automaker in his five years at the helm, overhauling its two-decade-long strategic alliance with Nissan and doubling down on hybrid motors while shifting towards electric vehicles. Between November 2023 and March 2025, he was CEO of Ampere, Renault's electric vehicle and software unit. He has also served as President of the European Automobile Manufacturers' Association (ACEA) since January 2023. What's the challenge? De Meo would take the helm of Kering at a time when the group's underwhelming performance of recent years has cast doubt on the effectiveness of its current strategy and leadership.
Time of India
26 minutes ago
- Time of India
Mercedes-Benz hints at further price hike in September
German-luxury car brand Mercedes-Benz India has indicated a further price increase for its cars from September, citing adverse fluctuation of Euro against the Indian Rupee, a top official said here on Monday. The company already revised its prices by 1.5 per cent, each in January and June this year, Mercedes-Benz India Managing Director and CEO Santosh Iyer said. "If you see, yesterday night, one Euro is equal to Rs 99 and it is the first time that Euro has breached the Rs 98 mark. We had priced our cars (when One EURO) was at Rs 89-90. With Euro going up, even though we localise more than 30 per cent of our cars, 70 per cent of the cars still have European content and when the EURO goes up (against Rupee), the price (of Mercedes-Benz range of cars) will go up," he told reporters. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Mobile Stair Lifts Require No Installation - Prices May Surprise You Stair Lift | Search Ads Learn More Undo He noted that Mercedes-Benz has already effected a price increase of its cars twice in 2025, in January and June. Up to 1.5 per cent was the increase in hike. "And the third one (increase in price) equal to 1.5 per cent will come in September, because we cannot pass this in one go and we are doing it in phase wise," he said. Live Events Despite the proposal to increase the price of cars, Iyer sounded optimistic on retail sales with the Reserve Bank of India announcing interest rate cuts twice this year. "We have non-banking finance company, Mercedes-Benz Finance and this arm has also reduced the interest rates. About 80 per cent of our cars are financed and today, if you look at June, the price of cars (of Mercedes-Benz) has gone up. But the EMIs remain the same." he said. He added that the interest rate cuts announced by the Reserve Bank is helping the sales of Mercedes-Benz range of cars for sure. "I think these are pros and cons. So this year, it is not an easy year from a geo-political macro economy environment and therefore, we want to be a big conservative when we also talk about demand and forecast (for Mercedes-Benz)", he said, responding to a query. "Right now, we had an excellent May (in terms of Sales) and June also seems to be strong and hopefully, during the festive period, we will bring back even more cheer (in terms of sales for his company)" Iyer said. Mercedes-Benz declares its sales performance every quarter and the details of the sales are expected to be released in July, he said. Iyer and top officials of Mercedes-Benz India and Sundaram Motors Executive Director Sharath Vijayaraghavan were here at the launch of top-end luxury experience store in Adyar which has been inaugurated as part of the company's networking strategy. Iyer said Mercedes-Benz intends to open 30 such showrooms, which includes upgrading the existing facilities and also setting up new outlets this year in new locations. "This is the 11th such facility. We will be opening 19 more in the next 5 months. These provide Atelier Experience to customers which offers upgraded infrastructure, technology and an exclusive personalisation corner to customers," he said. After the highly exclusive Maybach Lounge set up in Hyderabad, G-Lounge in Delhi, Mercedes-Benz introduces the bespoke 'Atelier Experience' in Mumbai and Chennai where discerning customers can configure their cars with a range of customisation options, he noted. Hyper-personalisation is an emerging trend at the top-end luxury segment. "I think the Atelier Experience is a new step in what we are trying to do in the luxury space. Taking care of top end customer." he said. With the Atelier Experience, Mercedes-Benz has gone more 'boutique' and the focus is more on top-end vehicle customers like Maybach, AMG, he said and added that over a period of time, Mercedes-Benz India would shift its current 100 touch points to new format stores in future considering the expectation from a customer. PTI
