Business & economy wrap-up from the day beforeCyprus must adopt a balanced and long-term energy strategy combining conventional power generation, renewable energy, storage, electricity interconnection and demand management, energy systems expert and former Cyprus Energy Regulatory Authority (CERA) chairman Andreas Poullikkas has warned. In an analysis on energy security, Poullikkas said there are no simple solutions to complex energy challenges, arguing that Cyprus’ electricity system requires a comprehensive approach rather than reliance on individual technologies. He said the experience of recent years had clearly demonstrated that the island’s electricity system faces growing challenges, particularly during periods of high demand and extreme temperatures. Despite the year-on-year decline of 25.64 per cent, Cyprus’ R&D funding remained 87.74 per cent higher than in 2015, when government allocations amounted to €59.66m. The transaction was executed on the Cyprus Stock Exchange (CSE) through the Cyprus Investment & Securities Corporation Ltd (CISCO) acting as the purchaser.