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Cop29 Begins In Baku, Spotlight On Climate Finance And Global Goals

by THEFUTURE.TEAM

November 12, 2024

The UN Climate Conference COP29 has commenced in Baku, with leaders from nearly 200 nations gathering to evaluate progress and renew commitments under the Paris Agreement. This year, financial strategies to support developing nations in addressing climate change are expected to take centre stage.

Key Focus Areas

Discussions will focus on limiting global warming to 1.5°C and ensuring financial support for climate action. Wealthier nations, including the US, Japan, and EU members, pledged $100 billion in annual aid to developing nations, though this target, set to expire, has only occasionally been met. Developing countries seek up to $1 trillion in annual support, but industrialized nations aim to share costs with other major emitters like China and Gulf countries.

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Financial Negotiations

The conference is expected to yield new funding targets, sourced from state budgets and international institutions, along with possible mechanisms like fossil fuel taxes. Developed countries have so far favoured loans over direct aid, but the pressure is mounting for increased grants and alternative funding options.

Challenges Ahead

The potential impact of Donald Trump’s return to the White House has raised concerns, with sources indicating a possible US withdrawal from the Paris Agreement and renewed support for fossil fuel development. These factors could complicate negotiations on carbon reductions and clean energy transitions.

Continued Investments

Last year’s COP28 in Dubai marked an important step with countries agreeing to transition away from fossil fuels in energy systems. Clean energy investments have surged to nearly $2 trillion in 2023, yet fossil fuel investments also persist, particularly in coal, with over 50 GW of new coal plants approved in 2023 alone.

As talks unfold, leaders face pressure to secure greater financial commitments and accelerate the shift toward sustainable energy sources.

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Cyprus Economy Outperforms EU Benchmarks With 4.5% Quarterly Growth

by THEFUTURE.TEAM

February 16, 2026

The Cypriot economy recorded an impressive 4.5% year-on-year growth in the fourth quarter of 2025, according to preliminary estimates from the Statistical Service. This performance represents a notable acceleration, with a seasonally adjusted quarterly increase of 1.4% compared to the previous period.

Quarterly Performance Surpasses Expectations

Based on Eurostat data, Cyprus has significantly outpaced its European counterparts. While the Eurozone achieved an average growth rate of 1.3% and the European Union registered 1.5%, Cyprus clearly outperformed both. Such robust quarterly performance underlines the nation’s strategic economic positioning amid global market uncertainties.

Full-Year Projections And Fiscal Discipline

For the entire year 2025, growth is forecasted at 3.75%, exceeding earlier predictions from the Ministry of Finance and several domestic and international agencies, which had estimated an increase between 2.9% and 3.5%. This optimistic projection is supported by a low inflation environment and conditions of near-full employment.

Sustainable Growth Amid Global Uncertainty

Despite increased international volatility, Cyprus continues to demonstrate a resilient economic dynamic. Experts assert that a commitment to prudent and disciplined fiscal policies will bolster the nation’s ability to maintain medium-term growth rates above 3%. This strategic approach offers a strong competitive edge, much like other success stories in high-growth markets where sound economic management has proven vital.