Cyprus is set to make a significant showing at the international shipping conference Posidonia 2024 in Athens, with around seventy companies participating in what is considered the largest maritime exhibition in the world.

Soteris Pittas & Co LLC was, once again, delighted to be a Gold Sponsor of the 2nd Cyprus Arbitration Day (CAD), that was held between the 19th and 21st of May 2024 at Grand Resort Hotel in Limassol.

The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) this week signed a Memorandum of Understanding (MoU) during a ceremony held at the Presidential Palace.

Deposits in the Cypriot banking system increased for the third consecutive month in April of this year, while loans recorded a net decrease after two months of growth, according to data from the Central Bank of Cyprus (CBC) released this week.

Cyprus’ economic climate saw an upswing in May, with the Economic Sentiment Index (ESI) increasing by 1.6 points when compared to April 2024.

Increased interest income, driven by successive interest rate hikes from the European Central Bank (ECB), has significantly boosted Cypriot banks’ profits in the first quarter of 2024, which amounted to €226 million during this time.

Cyprus’ Electricity of Authority (EAC) has approved works that will cost €45 million.

Platform workers are already mentioned in some EU laws such as the transparent and predictable working conditions directive. However, there are many issues pending to resolve in regard to these workers access to social protection. EU member states have different approaches to platform work. National responses to platform work are diverse and are developing unevenly across Europe. In particular, courts anywhere in the EU are called to decide on the employment status on a case-by-case basis.

Senior Associate Vassilis Psyrras proudly participated as a panelist in the “2nd Limassol Boat Show Conference: Cyprus, the New Yachting Hub of the East Med,” organised by Limassol Marina in partnership with Dacor Advertising & Media Ltd. This prestigious conference, part of the 2024 Limassol Boat Show, attracted industry leaders and experts from around the world, offering a dynamic platform for networking, discussion, and collaboration on the future of yachting in the Eastern Mediterranean.

Cyprus witnessed a marginal rise in its ship management revenues in the latter half of 2023, which climbed to €638 million, up from €623 million in the preceding half-year.