Nicosia has reached an agreement with Cairo on a pipeline to connect the Aphrodite gas field in block 12 to Egypt.

The Paphos regional board of tourism has launched a new comprehensive website as part of a wider campaign utilising technology and upgraded literature to help to promote the entire district.

ExxonMobil and Cyprus could hit the jackpot later this year when the US energy behemoth bores down into the seabed in search for natural gas.

Passenger traffic through Cyprus’ two airports jumped 8% between January to July 2018 with passenger movement close to 6 million.

Moody’s Investors Service said that it upgraded the RCB Bank’s long-term counterparty risk assessment by a notch to Ba1(cr) after it filed the island’s sovereign credit rating to Ba2, also by a notch a week before.

Declining net interest income has forced banks to raise charges and readjust their interest rates on deposits and loans, as rates in the euro area remain at historic low levels.

The consumer price index rose 2.3% year-on-year in July 2018 mainly on higher energy prices, the statistical service said.

Building permits rose in the first five months of 2018 an annual 26%, the statistical service said recently.

The government is said to be mulling its options after the consortium holding the license for the Aphrodite gas field proposed amending the revenue-sharing agreement with the Cypriot state.

CyprusProfile talks to Antonis Antoniou, Executive Director of Giovani Group, about the key areas of opportunity or growth in the real estate sector, and expectations for Cyprus in 2018.