A strong 16% increase was recorded in credit card transactions in July 2019, reflecting consumer confidence while tax and other online payments to the state played a significant part in the upswing.

The number of registered Cyprus unemployed has reached its lowest point since 2011 following an annual 17% drop in July 2019, according to official data released recently.

Author: Mikaela Kantor, Senior Associate - Prountzos & Prountzos LLC

With Limassol’s seafront peppered with luxury towers and new developments, there is almost no room for new projects, so investors are heading outwards to the area between the new marina and the old port.

Cyprus tourism is gearing up for a full rebrand of its image to better reflect the various aspects of its offering to promote special interest tourism, such as wellness, conference and rural tourism, and to tap into new markets through better connectivity.

The tourism ministry has reached agreements with neighbouring countries regarding joint excursion packages, it was announced recently.

Revenue from tourism decreased by 5.8% in May 2019 compared to the corresponding month last year, the statistical services announced recently.

Cyprus and Israel are ramping up their exploration of East Med natural gas reserves with the licensing of more blocks for international companies to exploit offshore energy wealth.

Standard & Poor’s affirmed its 'B+/B' long- and short-term issuer credit ratings on Bank of Cyprus noting that the outlook is stable but there are obstacles ahead.

Ayia Napa has officially inaugurated its first casino in the popular holiday resort, which is seen as an additional tourist leisure attraction.