According to the announcement, Nicholas Theofilou has been promoted to Partner in the Strategy & Transactions team at Deloitte Limited, while Maria Michaelides has been appointed as Partner at Deloitte Actuarial Services Limited.
The firm stated that both leaders bring outstanding expertise in their respective fields, responding to key market developments, challenges, and client needs.
“Becoming a partner is a significant career milestone, earned through merit and by recognising the dedication and zeal of our people,” said Pieris Markou, CEO of Deloitte Cyprus.
“A strong leadership team is imperative to achieving our goals of offering services that continuously adapt to market and client needs, tackling compound client challenges, developing our talent, and contributing to our community,” he added.
According to the announcement, available on the CSE website, four sets of data have been published.
These include financial statements, auditor appointments and board compositions.
During both meetings, shareholders unanimously received and approved the audited financial statements for the year ended December 31, 2024, along with the accompanying reports of the directors and auditors.
Both companies confirmed the reappointment of Deloitte Ltd as their external auditors until the conclusion of the next annual general meeting, where accounts will again be presented.
Shareholders also authorised the respective boards of directors to determine the auditors’ remuneration as they see fit.
Speaking at the organisation’s annual general meeting at the Cyprus Chamber of Commerce and Industry (Keve), CIF president Marios Skandalis described the forum as “the guardian of our collective conscience,” insisting that its work is about systemic change, not slogans.
“Fifteen years after our foundation,” he said, “we are more mature, stronger and more committed than ever to making a real and practical contribution to transparency across society, business and government, with greater persistence and care.”
Skandalis underlined that 2025 “is not a year of start-up – it is a year of deepening and institutional consolidation.”
The IMF referenced Cyprus’ 4.3 per cent budget surplus and a reduction of public debt to 65 per cent of GDP.
In addition, in its annual report on Cyprus under article IV, approved by the executive board without a formal meeting and released on the evening of June 2, the IMF warned the authorities to avoid measures that could heighten inflationary pressures or reduce the scope for future spending.
Cyprus was among the fastest-growing economies in the euro area in 2024, with a growth rate of 3.4 per cent, supported by strong tourism, expansion in the information and communications technology sector, and resilient domestic consumption.
However, the IMF cautioned that there are signs of overheating. Growth is expected to slow to 2.5 per cent in 2025 and stabilise at 3 per cent in the medium term as the economy transitions from consumption-led growth to one driven by investment.
According to the announcement, the new service enables real-time card issuance, customisable limits, and transparent transaction monitoring.
Furthermore, businesses can instantly generate cards, assign them to team members, set spending caps, and freeze or unfreeze them when needed, all from a single platform.
It is also mentioned that the virtual cards are particularly suited to e-commerce companies requiring stronger transaction security, start-ups managing supplier payments, and global teams dealing with travel and multi-currency expenses.
The offering is positioned as part of a broader strategy to simplify B2B payments.
According to an official statement fromt the chamber, they held a meeting with Keve president Stavros Stavrou and secretary general Philokypros Rousounides.
During the meeting, issues of common interest concerning both organisations were discussed, with particular emphasis on the economic challenges facing both Cyprus and the European Union.
One of the points highlighted, the statement mentioned, was that strengthening competitiveness is the only viable path to promoting entrepreneurship and driving economic growth.
The advancement of policies such as the Competitiveness Compass, adopted by the European Commission, was described as a step in the right direction.
The rate fell to 3.7 per cent, down from 4.1 per cent in March and 5.1 per cent in the same month last year.
The number of unemployed people dropped to 19,000 in April, compared with 21,000 in March and 26,000 in April 2024.
Across the euro area, the seasonally adjusted unemployment rate stood at 6.2 per cent in April 2025, slightly lower than 6.3 per cent in March and 6.4 per cent a year earlier.
In the EU as a whole, the rate was 5.9 per cent, stable month-on-month, but marginally below the 6.0 per cent recorded in April 2024.
According to the announcement, the cooperation allows travellers to book a single ticket, benefit from a unified baggage policy, and enjoy a seamless transfer experience.
This strategic agreement will significantly expand travel opportunities through a number of key hubs, offering access to an even broader network across Europe and India.
These include Larnaca International Airport (LCA), Indira Gandhi International Airport in Delhi (DEL), Dubai International Airport (DXB), Charles de Gaulle Airport in Paris (CDG), Tel Aviv (TLV), and Milan’s Malpensa Airport (MXP).
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