The Reflect Festival in Cyprus is a major technology event where over 8,000 attendees engage in workshops and startup competitions. Keve’s participation highlights the need for small and mediumsized businesses to embrace technology for growth in the digital economy.
‘eKofini’, a digital price observatory in Cyprus, offers consumers transparency by showcasing average selling prices for locally produced fruits and vegetables, empowering them to make informed purchasing decisions. The platform, launched by the Ministry of Agriculture, provides a public window into price data from producers and retailers, highlighting market variations and ensuring fair pricing for all.
Amidst robust growth, Limassol port has seen wheeled cargo traffic surge by nearly 75%, handling around 60,000 RoRo units in 2023. DP World Limassol’s management has played a vital role in supporting Cyprus’s automotive and construction sectors, contributing significantly to the country’s economy.
Isystems Group has expanded its operations to Cyprus to strengthen its global presence and deliver innovative business software solutions, taking advantage of the strategic location, skilled workforce, and favorable business climate in the region. This move signifies the growing importance of Cyprus as a tech and business destination, reflecting the company’s commitment to meeting the diverse needs of its clientele while tapping into the island’s potential as a hub for advanced technological services.
Cyprus saw a wave of advancements this week: Journey Mentor appointed Paul Sies as CEO, Travel Expo Cyprus 2024 uplifted tourism hopes, Commonwealth Ocean Ministers Meeting prioritized ocean protection, and Neapolis University excelled at ICPC. Real estate and financial markets showed varied trends, while Keo reported increased profits. President Nikos Christodoulides endorsed ‘Vision 2035,’ aiming for Cyprus’ bright future.
The government of Cyprus, led by President Nikos Christodoulides, is dedicated to fostering a collaborative environment between the public and private sectors to support local businesses. In other news, a team of students from the Neapolis University of Paphos made history at the International Collegiate Programming Contest in Luxor, showcasing Cyprus’s academic excellence on a global stage.
AstroBank announced a significant financial achievement with an aftertax profit of €30.4 million for the year ending December 31, 2023, a notable increase from the previous year’s €12.2 million. Return on Equity (RoE) also surged to 13.9 percent, up from 6.2 percent, showcasing a remarkable leap in economic health for the bank.
The Cyber Security Weekend in Larnaca, hosted by Keve and the DSA, aims to educate businesses on digital threat management and foster a culture of security awareness. Through interactive sessions and B2B meetings, participants are equipped with knowledge and tools to enhance cybersecurity preparedness and combat cyber threats effectively.
Cyprus Business Now is a strategic forum aimed at attracting investment and fostering growth in the region. President Nikos Christodoulides is in London engaging with financial institutions to showcase Cyprus as an ideal destination for business, amidst restructuring efforts and real estate development projects.
Cypriot billionaires shine bright on the global stage, with Vinod Adani leading the pack at $23 billion, followed by shipping magnate John Fredriksen at $16.9 billion. The HajiIoannou family, known for easyJet, also makes a splash, showcasing Cyprus’s economic prowess and entrepreneurial spirit.
