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Minister Of Finance Urges Greek Businesses To Invest In Cyprus

Cypriot Minister of Finance, Mr. Makis Keravnos, addressed the “3 Business Presentations of Cyprus in Greece” event in Athens on January 29, 2025, where he highlighted the importance of strengthening economic ties between Cyprus and Greece. He emphasized the long-standing historical and economic connections between the two nations and their resilience in the face of geopolitical challenges.

Mr. Keravnos pointed out Cyprus’ strategic position as a bridge between Europe, Asia, and Africa, noting the dynamic growth of the Cypriot economy. He highlighted key sectors such as tourism, financial services, shipping, and technology as crucial to the country’s development. In his speech, the Minister noted that Cyprus achieved a growth rate of 3.7% in 2024, surpassing the EU average. Unemployment fell below 5%, and inflation dropped from 3.5% to 1.8%. Cyprus also recorded a primary surplus of 5%, which will contribute to reducing public debt below 60% of GDP by 2026.

The Minister called on Greek businesses to explore opportunities in Cyprus, underscoring the government’s commitment to attracting international companies and investment funds. He highlighted particular focus on sectors such as renewable energy, health, education, and the defense industry, which he described as a promising area for collaboration between Greek and Cypriot businesses.

Mr. Keravnos also discussed ongoing reforms, including strengthening the financial system through the Cyprus Equity Fund and the creation of the National Development Agency, as well as tax reforms aimed at fostering growth. He concluded by emphasizing Cyprus’ dedication to enhancing its international reputation, ensuring a stable business environment, and creating favorable conditions for investors.

TikTok Returns To US App Stores 

TikTok is once again available for download in the Apple and Google app stores in the US, following a delay in the enforcement of its ban by former President Donald Trump. The ban’s postponement until April 5 gives the administration additional time to evaluate the situation.

Key Developments

The decision to restore TikTok access came after Google and Apple received reassurances from the Trump administration that they would not face legal consequences for reinstating the Chinese-owned app. According to Bloomberg, US Attorney General Pam Bondi sent a letter outlining these guarantees.

In an executive order signed on January 20, Trump instructed the attorney general not to take enforcement action for 75 days, providing time for his administration to determine how to proceed.

Uncertain Future For TikTok In The US

While TikTok is back on the US app stores, its long-term survival remains uncertain. If no deal is reached by early April to address national security concerns, the app may face another shutdown. ByteDance, the parent company, has insisted that TikTok is not for sale.

Legislation And Pressure On ByteDance

The Protecting Americans from Foreign Enemy-Controlled Apps Act, which passed with bipartisan support in Congress, mandates a nationwide ban on TikTok unless ByteDance sells its US operations. This law was signed by President Joe Biden in April of last year.

In late January, the app was briefly removed from US stores following the ban’s activation, impacting over 170 million American users. However, TikTok was restored soon after, following Trump’s intervention in his first hours as president. During that time, he signed an executive order allowing 75 days for a deal that would safeguard national security. Trump also suggested that the US could take a 50% stake in TikTok, a move he believed would keep the app “in good hands.”

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