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Cyprus Tops EU in GDP Growth

Cyprus has emerged as a leader in economic growth within the European Union, achieving the fastest GDP growth rates across member states. According to George Papanastasiou, Minister of Energy, Commerce, Industry, and Tourism, the nation’s success is a testament to the business community’s hard work and innovative strategies.  

Recent Eurostat data highlights Cyprus’s 3.8% year-on-year GDP growth for the third quarter of 2024, placing the country at the top of EU economic rankings. Speaking at the Annual General Meeting of the Larnaca Chamber of Commerce and Industry, Minister Papanastasiou celebrated this achievement as a reflection of the country’s robust economic framework and commitment to progress.  

He further noted Cyprus’s thriving export performance, with data showing a 4% increase in exports from January to July 2024, reaching €1.22 billion. This growth underscores the nation’s efforts to strengthen its international trade footprint.  

To ensure sustained success, the Ministry is advancing a new Strategy and Action Plan to promote service exports in key industries. At the heart of these initiatives is the introduction of a “Made in Cyprus” brand, designed to elevate the visibility of Cypriot products and services in global markets. Initially covering industrial goods, agricultural products, manufactured goods, and local handicrafts, the brand will eventually expand to include the services sector.  

Minister Papanastasiou expressed optimism about the future, emphasizing the government’s dedication to creating more opportunities for success and fostering a competitive, export-driven economy. Cyprus’s strong performance sets a benchmark for growth and innovation in the region.

Forbes Middle East Unveils 100 Most Powerful Businesswomen Of 2025

Forbes Middle East has unveiled its much-anticipated 2025 ranking of the region’s top businesswomen, spotlighting influential leaders reshaping industries and driving meaningful transformation. The list was based on business size, individual accomplishments, leadership impact, and corporate social responsibility initiatives.

Top Spot For Hana Al Rostamani

For the third consecutive year, Hana Al Rostamani, Group CEO of First Abu Dhabi Bank (UAE’s largest bank by assets), claims the top position. In addition to retaining her position in the Forbes Middle East ranking, she was also featured on Forbes’ 2024 list of the World’s Most Powerful Women, securing the 60th position globally. Under her leadership, the bank achieved an impressive $3.5 billion in net profits and $334.8 billion in assets in the first nine months of 2024.

Rising Stars In The Top 10

Shaikha Khaled Al Bahar of NBK Group and Shaista Asif, cofounder and Group CEO of PureHealth Holding, take the second and third spots respectively, completing the top three.

The top 10 remains largely unchanged from last year, with Tayba Al Hashemi of ADNOC Offshore, Alisha Moopen of Aster DM Healthcare GCC, and Suzanne Al Anani of Dubai Aviation Engineering Projects (DAEP) making their debut in the top 10. In total, 27 new leaders have joined the list this year.

A Diverse And Powerful Group Of Women

This year’s list features 100 women from 32 sectors and 29 nationalities, underlining the diversity of talent driving the region’s progress. The banking and financial services sector leads with 25 entries, followed by healthcare and technology with nine each, and venture capital with five. Remarkably, 40% of the top 10 women are from the banking and financial services sector. Notably, Shaista Asif (PureHealth Holding) and Alisha Moopen (Aster DM Healthcare GCC) are the only non-Arab women in the top 10.

UAE Leads With 46 Leaders

The UAE continues to dominate, with 46 of the women on the list hailing from the country, solidifying its status as a global business hub. Egypt follows with 18 influential women, and Saudi Arabia claims nine entries. Egyptians lead in representation, followed by Emiratis and Lebanese women.

Empowering Women Through Initiatives

Several of the leaders have focused on upskilling and creating opportunities for women. Susana Rodriguez Puerta launched the ‘sAIdaty’ initiative in collaboration with the Dubai Business Women Council, aimed at providing 500 female council members in the UAE with AI skills. Similarly, Lamia Tazi of SOTHEMA collaborated with the Foundation for Research, Development, and Innovation in Science and Engineering to provide scholarships to PhD students from low-income backgrounds.

Click here for the full list.

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