The Cyprus shipping sector, accounting for about 7% of GDP output with annual earnings of more than €1b, is just as concerned with world trade developments and new sulphur emission controls as any other maritime cluster, head of the shipowners said.

Assets Under Management (AUM) and Undertakings of Collective Investments (UCIs) in Cyprus rose to €6.7 billion in Q1 2019, a 7% increase on the previous quarter.

Larnaca is set to see construction of its first shopping centre, the ‘Metropolis Mall’, begin soon as owners Acsion Group have obtained all relative building permits.

Revenue from tourism declined to €96.6m in March 2019 from €110m in the same month last year, a decrease of 12.2%, the Statistical Service said recently.

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A total of 65 beaches in Cyprus, as well as the Limassol Marina have received the prestigious Blue Flag award for 2019, reflecting their excellence in environmental education, management, water quality, safety and services.

Cyprus is promoting a third Start-up Visa scheme with state funding of €500,000 to ensure it is more attractive to third country investors who have so far stayed away.

Tourist arrivals for summer 2019 are expected to record a slight decrease, remaining however around the same levels as 2018, according to the president of the Association of Cyprus Travel Agents (Acta).

The government is said to have clinched a deal with the Aphrodite gas field stakeholders to modify the production sharing contract, with Energy Minister Giorgos Lakkotrypis expected to brief political parties next week.

The Supreme Court of Cyprus granted a prerogative order of Certiorari quashing an anti-suit injunction blocking a Cypriot Company from filing any proceedings in any part of the world, except before the LCIA Court.