The economic sentiment indicator rose by two units in a month in July 2018, to 111,1, on improved confidence among companies in the services, construction, and industrial sectors, the University of Cyprus said.

Cyprus’ unemployment rate fell in June 2018 to 8.2% from 8.3% in May and 11% in June 2017, the sixth lowest in the European Union, the European Commission’s statistical office said.

The government generated a fiscal surplus of €3269m on a cash basis in the first half of 2018 compared to a surplus of €64.5m the year before, the Finance Ministry said.

Moody's Investors Service, has upgraded the government of Cyprus' long-term issuer rating to Ba2 from Ba3.

S&P Global Ratings said it affirmed its 'B/B' long- and short-term issuer credit ratings on Bank of Cyprus Public Co. Ltd. (BoC). The outlook is positive.

In a bid to be elected cultural capital of Europe for 2030, Ayia Napa is planning to build a 2,500 seat amphitheatre at a cost of €3 million, the resort’s Mayor Yiannis Karousos said recently.

Moody’s Investors Service said that while the latest legislative package passed by the parliament on July 8, 2018 can help banks reduce their bad loans stock, it also contains provisions that remain ambiguous.

The government faces €713m in debt maturities this year, including the second payment of €312.5m to the Russian Federation against a €2.5bn negotiated seven years ago, the Public Debt Management Office (PDMO) said.

Cyprus’ competition watchdog approved Hellenic Bank’s agreement with the Cyprus Cooperative Bank, lifting one more obstacle for the acquisition of the latter’s operations, Hellenic Bank said, hours before the government agreed to offer more compensation to Co-op workers affected by the deal.

Since the start of the new millennium, prices in Cyprus have increased by a total of 32.8% on average, with alcohol and tobacco rising a whopping 66% and almost 92% respectively, and food by over 60%.