he area of the Republic of Cyprus under government control has a market economy dominated by a services sector that accounts for more than four-fifths of GDP. Tourism, finance, shipping, and real estate have traditionally been the most important services.
Cyprus has been a member of the EU since May 2004 and adopted the euro as its national currency in January 2008. During the first five years of EU membership, the Cyprus economy grew at an average rate of about 4%, with unemployment between 2004 and 2008 averaging about 4%.
7. Surendra Hiranandani (Net Worth: $1.22 Billion)
Surendra Hiranandani is the younger brother of billionaire Mumbai developer Niranjan Hiranandani. He runs his independent outfit, the House of Hiranandani, which specializes in luxury residences. He still owns 50% in older projects that he built along with brother Niranjan, notably the Powai township in suburban Mumbai. The brothers sold their office and retail assets in Powai to Canada’s Brookfield Asset Management for $1 billion.