AGP Executive Report
Last update: 9 hours agoGas Development: Eni has signed contracts worth up to $1.8 billion to advance the Cronos field offshore Cyprus, with gas set to flow to Egypt for processing and export. Baker Hughes will supply subsea systems; energy analyst Charles Ellinas warns Cyprus’s financial gains may be modest. Banking: Deposits reached €60.2 billion in September and loans €29.6 billion. Annual loan growth accelerated to 14%, while deposits grew 6.5%. Trade & Shipping: Around 25 Cypriot firms are expected to visit India next month to explore maritime partnerships. Cyprus-China trade also rose 26%, according to a recent report. Business & Innovation: Cyprus leads the EU in SME innovation, but businesses still need more investment and stronger routes to turn research into sales. Plug and Play Cyprus says startups must target international customers to scale. Tourism & Property: Foreign overnight stays in Cyprus are forecast to rise 75% by 2036. Resales of existing homes more than doubled in the third quarter, pointing to continued property demand.
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