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.

As part of our Continuing Professional Development training, last week SOTERIS PITTAS & CO LLC, delivered two consecutive in-house seminars which were presented by our newly promoted Partner, Mr. Kyriakos Pittas, on the subject of “Liquidation of Companies”.

In a morning filled with achievements, connections, and shared aspirations, the Successful Business Leaders’ Club marked its triumphant 3rd anniversary. This celebratory event was not only a testament to the club’s growth but also an opportunity to honour and recognise the vision of Natalia Kardash in bringing together business leaders from across Cyprus. The morning was a perfect blend of acknowledging accomplishments, sharing insights, and building connections among like-minded professionals.

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.

We are thrilled to announce that the Law office of Demetres Koutras has been integrated with ours.