Nicosia is the wealthiest per capita city of the Eastern Mediterranean and the tenth richest city in the world by purchasing power. Not surprisingly, banking and private investment are big contributors to the local economy and that’s likely to increase dramatically. With the recent discovery of a massive undersea hydrocarbon field within the EEZ of Cyprus, energy, and major investment in energy, has become a very real part of Cyprus’ financial plans for the future. The country is now poised to license upstream providers to begin tapping into the largest natural gas reserve in the Eastern Medditeranian.  

 

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