The Administrative Court cancelled a decision of the competition watchdog to fine JCC Payment Systems €1.7m and Bank of Cyprus €18.1m, citing the deficient composition of the Commission for the Protection of Competition.

The governor of the Council of Europe Development Bank (CEB) Rolf Wenzel said recently that the lender will continue supporting economic recovery in Cyprus and advised more action to reduce non-performing loans.

Demetra Investment, owner of 10.1% of Hellenic Bank’s shareholding, and software developer Logicom Public Ltd, said their respective shares will be suspended from trading at the Cyprus Stock Exchange (CSE).

Tourist arrivals rose in May 2018 by 7.6% to 450,955 compared to the respective month of 2017 as secondary markets offset a decline in Russian visitors, the statistical service said recently.

Government Spokesman Prodromos Prodromou stressed the need for a solution to the problem of Non-Performing Loans in Cyprus.

The harmonised consumer price index rose in May 2018 an annual 1% compared to a year before mainly on more expensive energy products, the statistical service said.

The cabinet approved in principle Hellenic Bank’s offer for the acquisition of state-owned Cyprus Cooperative Bank’s operations, Finance Minister Harris Georgiades said.

Larnaca’s satellite casino will likely be housed at Larnaca International Airport, according to local press reports.

The number of persons employed in the first quarter of 2018 rose 4%, to 391,701, compared to January to March last year, the statistical service said citing a flash estimate.

The government has issued a notice for the expropriation of land for the EuroAsia Interconnector’s high-voltage direct current (HDVC) converter station, the project’s website has said.