Cyprus’ national wealth is on the rise again with GDP getting higher and higher following the harsh years of the economic crisis.

By the end of 2019, Thomas Cook had closed 456,000 seats on its flights to and from Larnaca and Paphos airports to the United Kingdom, Scandinavian countries and Germany.

In 2017, Cyprus spent 0.8% of its GDP on recreation and sport, just above the 0.7% EU average a study conducted by Eurostat revealed.

Both Cypriot, UK and other-country authorities are making arrangements for the return of passengers to their countries or origin, including Cypriot nationals who were stranded abroad, mainly in Britain.

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations.

Cypriot Deputy Minister of Shipping, Natasa Pilides told parliament that a passenger ferry between Cyprus and Greece is expected to begin in May 2020 ending two decades without such a sea link.

The Government of Cyprus is preparing to submit a new bill, which aims to resolve the problems currently faced by the investment sector.

Cytaglobal and Cyta’s subsidiary Iris Gateway Satellite Services Ltd, participated with a stand at IBC 2019 that was held in RAI, Amsterdam between the 13th and 17th of September 2019.

EY Cyprus is back with its new series of seminars on Taxation and Legal Issues, addressed to all those looking to deepen their knowledge and hands-on training on the ever-evolving domestic and international tax and regulatory practices. In a business world focused on transparency and compliance, tax and regulatory needs can only be met with ongoing knowledge upgrade.

The euro area annual inflation rate was stable at 1.0% in August 2019, compared to July, while a year earlier, the rate was 2.1%, according to figures published recently by Eurostat, the statistical office of the European Union.