Tourism deputy minister Savvas Perdios on Monday said there is now a serious possibility of direct flights from Cyprus to Saudi Arabia which has been in the works for three years.

The Cyprus Investment Promotion Agency, commonly known as Invest Cyprus, has entered a collaborative initiative with counterparts from 16 other EU member states seeking to attract technology industry employees to their respective countries, it announced on Wednesday.

Bank of Cyprus, the one-time bellwether stock that drove the economy, maintains a conservative yet steady course to recovery, reporting an after-tax profit of €31.9 million for 2021, a turnaround from €175 million 2020 losses.

Finance Minister Constantinos Petrides confirmed that European monetary bodies consider resorting to interest rate hikes to deal with high inflation.

The European Commission has approved a €6.13 million Cypriot incentive scheme geared to support airlines affected by the coronavirus pandemic, having found it to be in line with the Temporary State Aid Framework of the EU.

After drawn-out debates before the House of Representatives, MPs on Thursday passed a law establishing an independent Authority against corruption as well as law regulating political lobbying.

Cyprus' Department of Environment has given the green light for the operation of a helipad in the northern part of mountainous Troodos region, Philenews reported on Friday.

Consumers should not accept additional charges for using credit or debit cards when paying for goods and services and they now have the law by their side.

Minister of Transport, Communications and Works, Yiannis Karousos, said on Friday that the project of Larnaca port and marina will significantly reinforce the Cypriot economy, with the benefit estimated at €120 million per year.

The number of Investment Funds in Cyprus recorded a new high in December 2021, reaching 257, with their total assets reaching €8,74 billion, achieving a 2.4% increase, in comparison to September 2021, according to data published by the Central Bank of Cyprus.