Andreas Michael, the owner and managing director of CyView Developers, recently shared insights into the economic outlook and prospects for the construction sector in Cyprus for 2024, including how the country is affected by regional conflicts.

The Research & Innovation Foundation (RIF) on Friday hosted its ‘Partner Day’ conference at the Hilton Hotel in Nicosia, in an effort to further foster collaboration between Cyprus’ research and business communities.

Elias Neocleous & Co LLC (ENC) displayed its expertise at the 2024 CG Summit Cyprus, a notable gathering hosted by the Legal500, which saw the participation of legal professionals, industry experts, and key decision-makers from across the country.

Vice President and Senior Analyst at Moody’s risk assessment group Haiko Peters this week praised the Cypriot’s economy steady improvement, referencing both its growth and ability to weather a tumultuous global economic environment.

Our firm’s Tech Law department is now a proud member of the SECUR-EU Project Consortium, a significant initiative aimed at enhancing cybersecurity in SMEs and Critical Infrastructure across the European Union.

The Commission for the Protection of Competition (CPC) approved on Friday Eurobank’s bid to acquire Hellenic Bank’s share capital. The decision was taken with a majority vote in favour of the acquisition, an announcement by the CPC said.

The Central Bank of Cyprus (CBC) this week released a quarterly report showing that the interest rate on household deposits with a maturity of up to one year increased to 2.29 per cent, up from 2.01 per cent in the previous month. At the same time, the interest rate on deposits from non-financial corporations decreased slightly to 2.19 per cent, compared to 2.29 per cent in the previous month.

Finance Minister Makis Keravnos and Cyprus Central Bank (CBC) governor Constantinos Herodotou held a meeting on Thursday, discussing a potential decrease in interest rates by the European Central Bank (ECB) during 2024. 

Copper prices set to soar by more than 75 per cent over next two years. Mark Rachovides, chairman of Venus Minerals and a member of Euromines, the voice of the European metals and minerals mining industry, on Thursday explained that copper prices are expected to rise by approximately 75 per cent over the next two years.

The economic climate in Cyprus showed signs of improvement in January 2024, according to a report released this week by the University of Cyprus’ Economic Research Centre (CypERC). The Economic Sentiment Indicator (ESI) increased by 2.3 units compared to December 2023, primarily attributed to a strengthening business environment in the services sector.