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Cyprus Economy In 2024: Growth In Key Sectors, But Trade Faces Challenges

by THEFUTURE.TEAM

February 13, 2025

Cyprus experienced notable economic growth in 2024, driven by increases in construction, manufacturing, tourism, and vehicle registrations. However, trade performance weakened, with both imports and exports declining. The latest data from CySTAT provides a comprehensive overview of these trends.

Key Figures

Construction Growth: Building permits reached 1.72 million square meters (January–August 2024), an 18% increase compared to the same period in 2023.
Manufacturing Expansion: Industrial production rose 1.8% from January to November 2024, reflecting steady growth in the sector.
Increase in Vehicle Registrations: Total vehicle registrations grew 9.1%, reaching 49,616; Private saloon car registrations increased 11.2%, while light goods vehicle sales surged 36.1%.
Consumer Price Index: Inflation remained moderate, with the CPI rising 1.8% for the year.
Tourism Growth: Tourist arrivals reached 4,040,200, marking a 5.1% increase compared to 2023.
Decline in Trade Performance: Imports fell 7%, totaling €12.26 billion; Exports declined 12.5%, amounting to €4.12 billion.

The data highlights strong domestic economic activity but also signals potential challenges in external trade.

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SEC Drops Lawsuit Against Gemini: A Major Turning Point In Crypto Regulation

by THEFUTURE.TEAM

January 26, 2026

SEC Dismisses Legal Action Against Gemini

The Securities and Exchange Commission has formally withdrawn its lawsuit against Gemini, the prominent crypto exchange founded by twins Cameron and Tyler Winklevoss. The move follows a joint court filing in which both the regulator and Gemini sought dismissal of the case that centered on the collapse of the Gemini Earn investment product, a debacle that left investors without access to their funds for 18 months.

Settlement And Regulatory Reassessment

In a significant development, a 2024 settlement between New York and Gemini ensured that investors recovered one hundred percent of their crypto assets loaned through the Gemini Earn program. The legal reprieve comes on the heels of actions initiated by New York Attorney General Letitia James, who accused Gemini of defrauding investors.

Political Backdrop And Industry Implications

This dismissal reinforces a broader trend of regulatory leniency toward the crypto sector noted during the Trump administration, which saw the SEC dismiss, pause, or reduce penalties in more than 60 percent of its pending crypto lawsuits. Meanwhile, Gemini’s recent public offering filing underscores its ambitions to solidify its status as a major player in the evolving digital asset market.