September 2019 is critical for the tourist industry as Cyprus Tourism Minister Savvas Perdios expects to confirm an increase in flights to the holiday island for 2020 and results to attract more Germans to be successful.

Bank of Cyprus has come to an agreement to sell its share in the Nicosia Mall for around €96m, reports said.

In an effort to deflect criticism from the EU and other international bodies over its Citizenship by Investment scheme, Nicosia has further tightened rules for foreign investors eyeing a Cyprus passport.

Maltese-owned Cyprus telecoms firm Cablenet has seen profits increase in H1 2019 while its customer base expanded by 9% to over 66,500 subscribers.

Cyprus is soon expected to acquire its first floating wind farm within its Exclusive Economic Zone.

Cyprus achieved the EU average in 2017 with 50% of internet users saying that they booked their holiday accommodation or travel arrangements online.

The cabinet recently approved the creation of an investment fund aimed at boosting economic growth, support startups and foster business innovation, according to a proposal put forth by Finance Minister Harris Georgiades.

Cyprus recorded the highest number of passengers on a single day this year at both Larnaca and Paphos airports on Wednesday, 21st August 2019, with a total of 312 flights and approximately 60,000 passengers travelling to and from the airports.

A revamp of Pattichion Park is the first of a number of new projects the Larnaca Municipality hopes to implement with EU financing in the near future, the town’s mayor Andreas Vyras told the press recently.

Cyprus is to make an early repayment in full of a €2.5b Russian loan secured during the financial crisis which has a remaining balance of €1.5b that expires in 2021.