A ferry link between mainland Greece and Cyprus is expected to be operational by next summer while the government is mulling over similar agreements with other neighbouring countries, MPs heard recently.

Parliament recently began reviewing proposed changes to the law that would enable the government to extend the licences for companies exploring for hydrocarbons in the island’s economic waters.

The goal of the national strategy of Cyprus for blockchain that has been prepared by the Ministry of Finance and which also includes an implementation road map is to make Cyprus a pioneer in this technology.

Larnaca is to see its fair share of new developments with several high-rise building projects being put forward from local and foreign investors.

As Cyprus’ economy expands with projected GDP growth of around 3.5% in 2019, employers in two of its backbone industries, construction and tourism, say they are facing a chronic labour shortage.

A targeted campaign to promote Paphos as the top destination to spend summer on the island has been launched.

Last week, the 4th International Investors Summit organised by Invest Cyprus took place in Limassol, and the list of attendees included over 150 foreign entrepreneurs and investors,representatives from audit and law firms and banks and government officials, amongst others the President of Cyprus, Mr. Nicos Anastasiadis and Finance Minister, Mr. Haris Georgiades.

A draft bill to regulate blockchain technology in Cyprus is expected to be ready before the end of 2019, as part of the National Strategy of Cyprus for blockchain that has been prepared, Finance Minister Harris Georgiades said recently.

Europe’s largest integrated casino resort (ICR) is on track to open in Limassol in late 2021 but the cost will exceed the initial budget of €550m to around €600m, Melco said.

The Cyprus banking system continues to post the second highest Non-Performing Loan (NPL) ratio in the EU, following Greece, according data published by the European Banking Authority (EBA) recently.