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Cyprus Welcomes ECB’s Interest Rate Cut, Calls For Swift Bank Response

by THEFUTURE.TEAM

February 3, 2025

Cyprus’ Finance Minister Makis Keravnos has expressed satisfaction with the European Central Bank’s (ECB) decision to lower key interest rates by 0.25%, calling it a positive development for the European and Cypriot economies.

In a statement on Friday, Keravnos highlighted that the rate cut aligns with economic conditions in Cyprus, where inflation stood at 1.8% in 2024. He emphasized that this move is expected to ease financial conditions and support growth.

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However, the Minister also urged Cypriot banks to act without delay in lowering their interest rates, in line with the ECB’s decision. He reminded banks of their commitment during recent meetings with the Finance Ministry to swiftly adjust rates in response to ECB policy changes.

The ECB’s latest cut marks a shift in its monetary policy stance, aimed at stimulating lending and economic activity amid easing inflation pressures across the Eurozone. The Cypriot government now looks to domestic financial institutions to follow suit and pass on the benefits to businesses and households.

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TikTok Elevates Songwriters With Enhanced Profile Features

by THEFUTURE.TEAM

July 18, 2025

Introducing Enhanced Visibility For Songwriters

TikTok is poised to transform the way songwriters promote their craft by integrating a suite of new features designed to highlight their musical works on the platform. Now in beta, the update includes a dedicated “Songwriter” label and a specialized profile tab that showcases their songs, allowing creators to build a more compelling narrative around their artistry.

Survey-Driven Innovation

The enhancements stem from extensive research, with TikTok surveying over 870 songwriters and conducting in-depth interviews to identify the key needs in profile building and monetization. Supplementary data from an independent study further confirmed that more than half of social media-savvy songwriters rely on TikTok for profile promotion. Such rigorous market research underpins TikTok’s commitment to driving tangible benefits for creative professionals.

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Selective Rollout and Strategic Partnerships

At present, only a limited group of publishing partners and songwriters have access to the new features. Interested parties must join a waitlist to take part in this initiative, emphasizing TikTok’s strategy of fostering an exclusive ecosystem that prioritizes high-quality content and strategic industry alliances.

Competitive Momentum In The Music Streaming Arena

TikTok’s new tools arrive at a time when competitors are also enhancing their songwriter engagement. Spotify, for instance, has been offering dedicated features for songwriters over the years, while Tidal recently expanded its offerings by introducing royalty tracking capabilities. Despite discontinuing its TikTok Music streaming service last year, the platform continues to serve as a vital hub for music discovery and artist promotion.

Empowering Creative Storytelling

“We are passionately committed to supporting songwriters at TikTok, which is why we built these tools to celebrate and elevate their work on our platform,” stated TikTok’s Global Head of Music Publishing Licensing and Partnership. By enabling songwriters to seamlessly integrate their musical narrative with their personal content, TikTok is not only enhancing profile visibility but also building a more engaging, multi-dimensional user experience.

As TikTok continues to innovate, these developments are set to redefine how songwriters connect with their audiences and manage their creative endeavors, reaffirming the platform’s role as a pivotal force in the digital music landscape.