limassol economic — The 16th Limassol Economic Forum brought together key figures to address how global disruption is reshaping economies and trade, with a focus on the need for resilience and reform in Cyprus and Europe.
- Rental prices for standard apartments across major Cypriot cities have seen an increase, according to a recent study by Perprice, highlighting trends in the property market.
- Demetra Holdings Plc executed a buyback of 8,100 shares, following shareholder approval, showcasing continued confidence in the company's valuation.
- In the realm of science, the Cyprus Institute of Neurology and Genetics has secured funding for a spatial transcriptomics platform, marking a significant advancement in precision medicine.
Deputy Minister Irene Piki highlighted the government’s strategy, which revolves around reform, investment, and institutional integrity aimed at bolstering economic resilience. She emphasized President Christodoulides’ commitment to making reform a core agenda, noting that Cyprus is in a strong economic position, characterised by full employment and low inflation, making it a vital gateway to the European market.
A panel featuring business leaders like Elias Neocleous and George Pantelides delved into pressing market challenges such as inflation, geopolitical risks, and overregulation. The consensus underscored the necessity for agility, security, and predictability in achieving success. Pantelides pointed out the urgent need for Europe to simplify its regulatory frameworks to foster growth.
Charis Pouangare from the Bank of Cyprus spoke about the uptick in lending and the trend of businesses adopting scenario planning as a response to uncertainty, urging that Europe must embrace a more dynamic approach.
House Speaker Annita Demetriou asserted that Europe’s role should be proactive rather than reactive, advocating for strategic autonomy that integrates economic stability, technological advancement, and defence capability.
The Central Bank of Cyprus convened a special session focused on the digital euro, gathering payment service providers to discuss the impending decisions from the European Central Bank. Executive director George Karatzias remarked that the timing of this meeting is crucial as it aligns with ongoing legislative discussions about the digital euro project.
In a significant bilateral move, Greece and Cyprus have signed a memorandum of cooperation aimed at enhancing collaboration on mineral resources, facilitating the exchange of expertise and data between the two EU member states.
The real estate market in Cyprus remains robust, with 1,669 properties sold to overseas buyers in the last year, as reported by Interior Minister Constantinos Ioannou. The sales figures indicate a strong interest from both EU and non-EU buyers, particularly in Paphos and Larnaca.
AmCham Cyprus announced a new board of directors, with Marios Kapiris at the helm as president, succeeding Georgios Georgiou. The chamber continues to focus on strengthening trade ties between Cyprus and the US.
Rental prices for standard apartments across major Cypriot cities have seen an increase, according to a recent study by Perprice, highlighting trends in the property market.
Cyprus is advancing its digital transformation through the adoption of electronic invoicing services, a collaboration between government ministries and the Bank of Cyprus that underscores the commitment to building a fully digital economy.
The Cyprus tax department has taken action against approximately 300 individuals and entities who failed to declare income from platforms like OnlyFans, revealing the growing scrutiny on undeclared digital earnings.
Demetra Holdings Plc executed a buyback of 8,100 shares, following shareholder approval, showcasing continued confidence in the company’s valuation.
In the realm of science, the Cyprus Institute of Neurology and Genetics has secured funding for a spatial transcriptomics platform, marking a significant advancement in precision medicine.
Upcoming events include a training seminar on Augmented Reality and Virtual Reality technologies, aimed at boosting competitiveness among Cypriot businesses, and the Cyprus–France Cooperation & Innovation Forum, which seeks to enhance collaborative efforts in innovation and technology.
The Cyprus Fiduciary Association is preparing for its annual general assembly, which will feature prominent speakers from the finance and legal sectors, signalling a pivotal moment for administrative services in Cyprus.
