AGP Executive Report
Last update: 3 hours agoEnergy: Eni has signed contracts worth up to $1.8 billion to develop the Cronos field, Cyprus’ first commercial gas project. Baker Hughes will supply subsea systems, with production targeted for 2028 and exports planned via Egypt. Banking: Deposits at Cyprus banks reached €60.2 billion as lending rose; September alone saw deposits increase by €697.1 million and loans by €857.8 million. Growth & Investment: GDP growth accelerated in the second quarter, driven by consumption and investment. Cyprus is also looking to attract more companies, jobs and foreign talent, while experts say the challenge is turning strong SME innovation into businesses that can scale. Trade & Deals: Cyprus sees new business and investment opportunities from a planned EU-Philippines trade deal. EKO has also agreed to buy STAROIL, while 25 Cypriot companies are expected to visit India to explore maritime and shipping partnerships.
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