The central government’s funds deposited at the Central Bank of Cyprus rose in January 2018 to €891.3m from €427.3m in December 2017, the bank supervisor said.

Rent prices rose at an increasing rate in the third quarter of 2017, driven mainly by office space and residential properties, the Cyprus division of the Royal Institute of Chartered Surveyors (RICS) said.

The Cypriot branch of the Royal Institute of Chartered Surveyors (RICS) said property prices continued to rise across the island in the third quarter of 2017 fuelled by economic growth, as economists describe the current real estate market recovery as temporary and expect a new price drop to set off in two years.

Transparency International, the global anti-corruption watchdog, promoted Cyprus to rank 42 in its 2017 Corruption Perception Index from 45 the year before as the island improved its score from 55 to 57.

Three beaches in Ayia Napa and Protaras have been included in the 25best beaches of Europe by Trip Advisor.

The recent acquisition of three properties from the Shacolas Group appears to be connected to the creation of a company that will manage commercial properties likely to be announced by Bank of Cyprus in the coming days.

The harmonised consumer price index dropped 1.5% year-on-year in January 2018, as a drop in the prices in most categories of goods and services offset less affordable energy products, the statistical service said.

The number of tourist arrivals rose 21% year-on-year last month, to 62,611, yet another all-time high for a January 2018, defying a drop in the number of Russian tourists, the statistical service said.

CyprusProfile talks to Angelos Gregoriades, Chairman, KPMG in Cyprus, about which sectors of the economy provide the best opportunity for growth and foreign investment, and his expectations for Cyprus in 2018

CyprusProfile talks to Andreas Christofides, Managing Director, KPMG in Cyprus, about the key areas of opportunity or growth, and his expectations for Cyprus in 2018