Cyprus has already overcome the loss of Russian maritime trade due to European sanctions and the Mediterranean shipping hub is chasing business expansion in Japan and elsewhere in Asia as it looks to grow its flag, a senior government official said.

Currently, the real estate sector is not a destabilising factor for the banking system, nor are there concerns over a property bubble or residue from the defunct Citizenship for Investment scheme, argues the Cyprus Central Bank.

Oil major Chevron and the Cyprus government said on Thursday they are committed to speeding up development of the offshore Aphrodite gas field, with a new well will to be drilled in the first quarter of 2023.

There is a large number of migrant students in Cyprus in elementary and high schools and at the beginning of the next academic year, each school unit will set its goals and priorities to assist these students, Education Minister Prodromos Prodromou said Thursday.

The current energy crisis and inflation have undone the rebound in the Cyprus economy registered last year, depleting households’ disposable income and posing a threat to the stability of the financial system, the Central Bank has said.

Famagusta and Paphos tourism stakeholders are glad to see Cypriot holidaymakers chipping in to compensate for the loss of Russian tourists following the war in Ukraine and EU sanctions.

There has been an increase in the nesting of sea turtles and especially the caretta-caretta turtle in recent years said Agriculture Minister Costas Kadis on Wednesday, adding that he hopes this will continue.

The cost of consumer goods and services in Cyprus continued to climb in June, on an upward spiral for the past 18 months, rising to 111.34 points or 9% on an annual basis and 1.2% from the previous month.

The Cyprus Securities and Exchange Commission (CySec) is warning of manipulation attempts against young people from ‘finfluencers’, employing methods such as ‘gamification’ in investment as it launches a new campaign to protect the public from investments that involve high risk and may not be suitable for them.

TUS Airways acquired an Airbus A320, the fifth plane in its fleet, it announced on Wednesday.