According to the new statistical data, the trade deficit dropped to €4.9bn in 2018, down from €5.3bn in 2017.

The new industrial port at Vassilikos, due for completion by 2023, will cost around €250 million, it was announced recently.

Talks aimed at recalibrating the revenue-sharing agreement for the Aphrodite gas reservoir appear to be going well, reports said recently.

The island’s trade deficit was €4.9bn in 2018, down from €5.3bn the previous year, according to the statistical service.

On Tuesday 12th March, excavation works began at the site of Cybarco’s ambitious new development on the Limassol Seafront, signifying the next phase of construction for Trilogy.

New legislation regulating hotel operations puts focus on the quality of services rather than building criteria such as the size of a hotel and its facilities.

Hellas Direct, a next-generation insurance company, has been ranked in the 1000 fastest growing companies in Europe for 2019 by the Financial Times.

Cyprus’ airports enjoyed a 7.6% increase in passenger flows during the first two months of 2019 compared the same period last year, spreading optimism among the island’s tourism stakeholders.

Hermes Airports which operates Larnaca and Paphos airports has been named the ‘Best International Airport Management Company 2019 in the Mediterranean’ at the 2019 Air Transport Awards by the British International Transport News magazine.

The goal for this year’s tourist season is to remain at the high levels recorded last year, achievable through cooperation within the tourist industry and appropriate marketing in various markets, deputy tourism minister Savvas Perdios said recently.