Non-performing exposures (NPEs) in the Cypriot banking system declined to 40.3% of total loans in the end of June 2018, marking a reduction of €3.28 billion compared with the end-of March 2018, and €10.7bn or 39.1% since the end-of December 2014, the Central Bank of Cyprus (CBC) said recently.

Cyprus Airways recently announced it had become a member of the International Air Transport Association (IATA) that represents more than 280 airlines around the world.

Construction giant J&P Overseas Limited has gone into administration after its lenders rejected its restructuring proposal, it was announced recently.

Four major investment firms have expressed an interest in financing the construction of a pipeline that would transport natural gas from Cyprus to Egypt, Bloomberg reported recently.

Pafilia Property Developers proudly announces the launch of two high-end, exclusive projects in the cosmopolitan city of Limassol; namely Vetro Suites and Amathos Residences. The respective developments boast elegant apartments and claim prime locations in the buzzing seaside town, further enhancing Pafilia’s strategic development in the city.

Regional developments, the Cyprus issue, energy and telecommunications, as well as matters concerning the diaspora will be discussed during the 6th Trilateral Summit of Cyprus, Greece and Egypt to be held in Elounda, Crete on Wednesday 10th October, 2018.

Cypriot households and businesses outside the finance sector continue to be the most indebted sectors of the economy, the Central Bank said in a report recently, despite the drop in non-performing loans.

The consortium with the licence on the Aphrodite gas field in block 12 is “very close” to a deal to export natural gas to a liquefaction terminal in Egypt, Foreign Minister Nicos Christodoulides has said.

On the 12th of March 2018, the EU Commission via an explanatory memorandum (“Explanatory Memorandum”), adopted a package of further measures intended to deepen, unify and further integrate the capital markets sector of the 28 EU Member States.

The International Monetary Fund (IMF) has said that the progress made in resolving non – performing loans (NPLs) in the banking sector of Cyprus has been limited.