AGP Executive Report
Last update: 8 hours agoEnergy: Cyprus’ Cronos gas field has entered construction after Eni signed contracts worth up to $1.8 billion. The project includes four subsea wells, with production targeted for the first half of 2028 — a first for the island’s gas sector. Economic Outlook: President Nikos Christodoulides says growth remains above the European average, with technology contributing about 15% of GDP and Cyprus rising to 34th in StartupBlink’s 2026 rankings. Shipping: Cyprus joined international talks in South Korea on maritime standards, as the government promotes the island’s role in global shipping. Business & Compliance: A major tax-fraud investigation involving the Horiatiko bakery chain reportedly spans 520 companies and €100 million. Tourism: The deputy tourism minister says September 2026 was the best September on record for the sector. Defence Contracts: Cyprus and Israel signed a €150 million agreement for a new patrol vessel and upgrades to an existing ship.
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