Tourist arrivals are down on 2018, confirming initial fears that 2019 will be difficult, Cyprus Hotels Association chairman Harris Loizides told the press recently.

InterContinental Hotels Group, one of the largest hotel chains in the world, announced that the new Hotel Indigo in Larnaca will open to the public by the end of 2019.

Monthly industrial producer prices for energy and consumer goods rose sharpest in Cyprus at 2.4% the largest hike in the EU.

Following the announcement of a revived corporate identity, Cybarco has launched its new website. Featuring the company’s history, heritage and iconic developments, the elegant image-led portal is a one-stop platform for all things “Cyprus property”.

Confidence in the mergers and acquisition (M&A) market is rising, with 58% of technology, media and entertainment, and telecommunications (TMT) executives planning to pursue M&A in the next year – up from 42% six months ago. This is according to the 20th edition of the EY Global Capital Confidence Barometer (CCB), which indicates that concerns around regulatory headwinds and competition are not preventing businesses from harnessing the transformative power of M&A.

Cyprus unemployment further dropped to 6.5% in May 2019 from 6.8% in April and 8.3% in May 2018, recording the second biggest annual decrease in the EU, according to Eurostat.

Deposits in monetary credit institutions recorded an increase of 1.7% on an annual basis, data released by the Central Bank of Cyprus show.

Hellenic Bank said recently it has generated a first-quarter net profit of €14.9m on the acquisition of the co-op bank and de-risking its balance sheet.

The island’s economy has entered a new, promising period and the hardship suffered in previous years is history, Finance Minister Harris Georgiades said recently, addressing over 150 foreign entrepreneurs and investors in Limassol.

Bank of Cyprus announced recently the completion of the sale of €2.7b non-performing loans known as Project Helix for €2.1b.