South Africa’s telecom MTN Group said that it sold its operations in Cyprus to Monaco Telecom S.A.

The Cyprus Investment Promotion Agency (Cipa) presented the Cyprus start-up visa programme at the largest start-up conference in Asia in July 2018, promoting Cyprus as an attractive destination for start-ups in Asia.

Hellenic Bank and the Cyprus Cooperative Bank have launched talks aiming at completing the agreed transfer of the latter’s operations by September 2018, the Cyprus News Agency (CNA) reported recently.

The government issued recently €3.2bn in bonds in favour of the Cyprus Cooperative Bank with a maturity of 5 months to 53 months, the Public Debt Management Office (PDMO) said.

Rating Agency, Moody’s, has described the sale of Bank of Cyprus subsidiary, Bank of Cyprus UK, as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on reducing its domestic high stock of problematic loans.

Larnaca Municipality has presented plans for the creation of a marine and maritime institute to promote scientific and business excellence in the blue economy sector.

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.