Cyprus’ revenue from tourism rose in February 2018 by 13% to €52.7m compared to the respective month of 2017 but tourists from UK drastically reduced their holiday budgets, the statistical service said

The Cyprus Securities and Exchange Commission (CySEC) and the Institute of Certified Public Accountants of Cyprus (ICPAC) recently issued circulars cautioning supervised entities and individuals about the latest US sanctions imposed against Russian companies, enterprises and officials, and their implications.

Melco Group announced recently it has appointed Craig Robertson Ballantyne as property president of City of Dreams Mediterranean and Casinos, the integrated casino resort set to open in Cyprus in 2021.

The European Bank of Reconstruction and Development (EBRD) said that it had revised its forecast for the Cypriot economy to 3.2% for 2018 from a previous 2.5%.

Cyprus, Greece and Israel recently confirmed they would be preparing and signing an inter-state agreement for the EastMed gas pipeline within 2018.

The Central Bank of Cyprus is likely to issue new and stricter guidelines to supervised lenders governing anti-money laundering requirements as early as next week, a source familiar with the matter said.

The number of registered unemployed fell in April 2018 by 5,713, to 24,903, in a month, which is the lowest since October 2010, the statistical service said.

The amount of funds deposited in the Cypriot banking system dropped in March 2018 by €642.9 million to €48 billion, the lowest amount since September 2016 on extensive withdrawals by all categories of depositor coinciding with fears about the solvency of the Cyprus Cooperative Bank, the Central Bank of Cyprus said.

On December 12th, 2017, IAGTO (International Association of Golf Tour Operators), named Aphrodite Hills Resort, the 5-Star fully integrated Resort in Cyprus, as the 2018 European Golf Resort of the Year in the prestigious annual IAGTO Awards.

The University of Cyprus said it expects the economy to expand 3.8% in 2018, against a 3.6% forecast in January, with growth moderating to 3.5% next year.