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).

Home prices fell 1.8% in the first quarter of the year compared to October to December in 2017, the first quarterly drop in four quarters, the statistical service said.

Minister of Energy, Commerce and Tourism Giorgos Lakkotrypis and a team of ministry officials visited the site of the Ayia Napa marina recently to monitor the progress of the construction works.

The House plenum has approved a bill providing for a state guarantee needed for the acquisition of certain parts of the Co-op bank by Hellenic to go through.

In a convoluted bid process which has seen the highly anticipated new marina in Paphos being passed from developer to developer, a final decision has given the project to Pafilia.