Cyprus Business Now

During a meeting held this week in New York, Cyprus President Nikos Christodoulides engaged in discussions with the leadership of Ernst and Young, headed by Julie Linn Teigland, Managing Partner of the firm for Europe, the Middle East, and Africa, accompanied by other senior executives, including the company’s leadership in Cyprus.

Ernst and Young announced plans to strengthen its presence in Cyprus, utilising it as a hub for providing services in the wider region.

As announced by the presidency, the meeting covered topics related to the economy, attracting foreign investments, and Cyprus’ regional strategic role in the broader area, particularly in terms of initiatives undertaken by the government in the region.

Meanwhile, the leadership of Ernst and Young reiterated its trust in Cyprus, announcing to the president that they will double their investments in human resources in technology and consulting services on strategic matters in the country, leveraging Cyprus as a service hub for the broader region.

Finally, during the meeting, president Christodoulids emphasised that attracting quality investments in areas where Cyprus can become a regional hub is one of the government’s top priorities, and policies are being directed accordingly.

More than 200 speakers, including figures from politics, economics, and academia, with several hailing from international backgrounds, are set to headline the discussions at the 4th Cyprus Forum.

The event, held under the theme of “Transparency,” is scheduled for September 29 and 30 in Nicosia, under the auspices of the Republic of Cyprus’ Presidency.

According to the organisers’ announcement, while discussions will cover a range of topics, including foreign policy, economics, equality, education, and more, special emphasis will be placed on issues related to the rule of law, improving the Republic’s institutions, combating corruption at all levels, fostering participatory governance, and enhancing citizens’ awareness of the policymaking process.

Additionally, this year’s event will see an increased presence of Turkish Cypriot speakers.

The 4th Cyprus Forum will adopt a fully revamped format this year, beginning with a three-hour opening ceremony at the Nicosia Municipal Theater, followed by an additional 60 hours of discussions across four parallel conference venues in the city centre (Classic Hotel, Stelios Foundation, Home of Cooperation, and Chateau Status), in line with the standards of international policy-producing conferences.

During a press conference held on Thursday, Nicolas Kyriakides, Founder and Executive President of the Cyprus Forum, stated that each year, the Cyprus Forum aims to become more useful and constructive in terms of policymaking. He emphasised that the ambitious goal of this year’s new format is to provide more time for discussions and interaction among speakers and participants.

Georgia Athanasiou, President of the Board of Directors of the NGO Oxygono, mentioned that the 4th Cyprus Forum will introduce several innovative changes aimed at enhancing public participation.

“Our goal through these discussions is to explore the power of transparency and accountability in state governance, business, and society,” she said.

The Cyprus Stock Exchange (CSE) ended Friday, September 22 with losses.

The general Cyprus Stock Market Index was at 131.03 points at 12:48 during the day, reflecting a decrease of 0.42 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 79.50 points, representing a drop of 0.41 per cent.

The total value of transactions came up to €119,867.

In terms of the sub-indexes, the main and hotel indexes fel by 0.53 per cent and 0.67 per cent. The alternative index rose by 0.01 per cent while the investment firm index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (-1 per cent), Hellenic Bank (-0.44 per cent), Pandora (no change), and Lordos Hotels (-1.2 per cent).