Italy’s energy giant Eni said that it made a lean gas discovery off the coast of Cyprus after drilling an exploratory well at Calypso, the target of exploration in block 6 of the island’s exclusive economic zone (EEZ).

Some 3,000 new tourist beds are expected to operate this year in Ayia Napa and Protaras, ahead of the peak summer season.

The use of plastic money rose 9% in January to €227.1m compared to the respective month of 2016, the payment processing joint venture of Cypriot banks, JCC Payment Systems Ltd said.

The amount of non-performing loans in the Cypriot banking system fell in October 2017 by €51.7m to €21.4bn compared to September and by €2.7bn in a year, the Central Bank of Cyprus said.

The European Commission said that it expects economic growth in Cyprus to moderate to 3.2% this year and to 2.8% in 2019 after reaching 3.8% in 2017.

Building permits rose in January to November 2017 an annual 45% in terms of construction area, to 1,354,786 square metres and 53% in terms of budget to €1.6bn, the statistical service said.

The consumer price index fell in January 0.7% compared to the respective month of 2017, mainly on cheaper agricultural produce, the statistical service said.

Government spokesman Nicos Christodoulides appealed for unity following President Nicos Anastasiades' re-election, so that the country could tackle the challenges that lay ahead.

Ryanair recenttly announced a new Paphos route to Amman in Jordan, which will operate four times weekly from the end of March 2018, as part of its Summer 2018 schedule.

“Cyprus offers the interesting example of an economy saved with the help of economic adjustment and responsible reforms,” the Martens Centre, the European People’s Party (EPP) in house think tank has said.