Cyprus recorded a negative annual net financial position of -€29.12 billion in 2023, according to a report released on Tuesday by the state’s statistical service.

Limassol led Cyprus’ high-value real estate market in September, driving €29.8 million in top property sales, according to real estate analytics firm Ask Wire.

The Deputy Ministry of Tourism is set to launch a series of initiatives in 2025 to support, promote, and enhance Cyprus as a tourist destination, according to the budget it submitted to the House.

ExxonMobil’s commitment to the region is proved by its extension to Egypt and Greece and renewed interest in Cyprus. It has been over two-and-a-half years since ExxonMobil last drilled in Cyprus’ EEZ, but the company is about to come back.

In our commitment to staying at the forefront of dispute resolution, Partner and Head of the Dispute Resolution department at Elias Neocleous & Co LLC, Chrysanthos Christoforou, recently attended   the prestigious Asset Recovery Middle East Conference, held in Dubai from 13–15 October 2024. The conference gathered leading fraud and insolvency practitioners from Europe, the Middle East, and North Africa to share insights and discuss emerging trends in asset recovery.

Steve Slocombe, Michelle Cooper, Laura Constantinou and Sarah Miceli, on behalf of GRS Recruitment, had the pleasure of exhibiting at the HR Evolve: FHRD Annual Conference, held in Malta last week. The event proved to be a fantastic opportunity for our team, as we connected with HR professionals, industry experts, and thought leaders who are shaping the future of the human resources field.

We are excited to announce that Elias Neocleous & Co LLC will be participating in the 19th NextGen Payments & RegTech Forum, an elite gathering of global key influencers, innovators, strategists, and thought leaders in Payments and RegTec, taking place on 6-7 November at the Four Seasons Hotel in Limassol, Cyprus.

In an interview with Phileleftheros, Andrea Kallis Parparinou, Partner at Elias Neocleous & Co LLC’s Nicosia office, shares insights into her legal career journey, discusses the evolution of Cyprus’s regulatory framework and the role of technology in modernising legal practice, and notes the importance of the appointment of women in influential positions in tech.

Mergers and acquisitions (M&A) involve complex due diligence processes to identify risks, ensure regulatory compliance, and manage vast amounts of information under tight deadlines. Effective due diligence helps buyers mitigate post-transaction risks by gathering insights into the target company’s operations, legal standing, and potential liabilities. Key strategies include assembling a multidisciplinary team, tailoring the scope of review to the deal’s specific needs, and conducting thorough compliance checks, especially in relation to global sanctions. A well-managed due diligence process not only facilitates smoother transactions but also helps buyers make informed decisions while minimising unnecessary costs and delays.

In a special ceremony held at the Cyprus University of Technology Rector’s Office, 5 scholarships totalling a sum of 5 thousand Euros were awarded by our firm to students of the university. The scholarships were awarded to students with financial problems who had a proven desire and ability to study, improving their prospects in life.