The number of company registrations rose in June 2018 an annual 17% to 1,123 unaffected by tougher anti-money laundering measures including shell companies being banned from the banking system, official figures show.

A satellite casino is expected to open in 2019 at Larnaca airport, sources revealed recently.

Moody’s Investors Service said that it has placed the credit rating of Hellenic Bank and the Cyprus Cooperative Bank on review for a possible upgrade following the agreement allowing the Co-ops operations to Hellenic.

Limassol’s temporary casino, which opened its doors on June 28, 2018 is proving more popular with Cypriots than foreign visitors, according to press reports.

Non-performing loans in the Cypriot banking system fell in March 2018 by almost €2.1bn to €19.9bn in a month, which is the lowest since December 2014, the Central Bank of Cyprus said.

Cyprus has the third highest number of beachfront hotels among Mediterranean islands according to the specialised hotel search engine www.travelmyth.gr.

The acquisition of part of the Co-op bank will turn Hellenic into the leading lender in retail and small and medium businesses in Cyprus, its CEO said recently.

Revenue from tourism fell in April 4.3% to €181.4m compared to the respective month of 2017 against a 9.7% increase in arrivals, the statistical service said.

The official opening of the Aphrodite Hills Owners & Members Lounge took place on Wednesday 4th of July 2018. One of the most important sections of the major investment upgrade and modernization of the Golf Clubhouse.

Bank of Cyprus, the island’s largest lender, said that it agreed to sell its subsidiary bank, Bank of Cyprus UK, and unit Bank of Cyprus Financial Services Ltd, to Cynergy Capital Limited, a UK-based group, for a total of GBP £103m (€116.6m).