Arrivals of tourists reached 433,617 in October 2018 compared to 406,870 in October 2017, recording an increase of 6.6%, according to Statistical Service figures.

The government said recently it is open to the idea of channelling a portion of the proceeds from the citizenship-by-investment scheme to funding a soon-to-be-unveiled affordable housing programme.

The Harmonised Index of Consumer Prices climbed by 1.9% in October 2018, compared with the respective period of last year, due to increases in prices for housing, water, electricity and gas.

Energy Minister Giorgos Lakkotrypis announced that ExxonMobil has started drilling at an offshore field inside the island’s exclusive economic zone.

The plenum recently passed a supplementary budget of €295 million with 24 votes for and 18 abstentions.

The first estimate for euro area (EA19) exports of goods to the rest of the world in September 2018 was €184.8 billion, a decrease of 1.0% compared with September 2017 (€186.6 bn).

According to data released by Eurostat, in 2017, flows of money sent by residents of the European Union (EU) to non-EU countries, (personal transfers), amounted to €32.7 billion, compared with €31.8 bn in 2016.

The AMPA & Israeli Shipyards consortium has submitted a €1.2b bid for the redevelopment of Larnaca port and marina, including a commercial and residential development on 220,000 square metres of land around the port and marina, according to press reports.

Finance Minister Harris Georgiades said recently that the practice by which non-EU nationals and shell companies could deposit large sums of money into Cypriot banks without having a physical presence on the island had come to an end.

The leading luxury developer and the backbone of the reputable Lanitis Group, Cybarco is continuing to set new standards for property development in Cyprus while working apace to deliver the next phases of its distinctive projects: Akamas Bay Villas, Limassol Marina and Trilogy Limassol Seafront.