The amount of funds deposited in the Cypriot banking system dropped in March 2018 by €642.9 million to €48 billion, the lowest amount since September 2016 on extensive withdrawals by all categories of depositor coinciding with fears about the solvency of the Cyprus Cooperative Bank, the Central Bank of Cyprus said.

On December 12th, 2017, IAGTO (International Association of Golf Tour Operators), named Aphrodite Hills Resort, the 5-Star fully integrated Resort in Cyprus, as the 2018 European Golf Resort of the Year in the prestigious annual IAGTO Awards.

The University of Cyprus said it expects the economy to expand 3.8% in 2018, against a 3.6% forecast in January, with growth moderating to 3.5% next year.

Consumer prices fell on average 0.1% in April 2018 compared to the respective month of 2017, as cheaper products more than offset the impact of more expensive fuel and services, the statistical service said.

Limassol port serves as a model for what Cyprus can achieve as it is one of the largest projects of the island, President Nicos Anastasiades said recently during the inauguration ceremony of the new passenger terminal.

The European Commission said recently it was expecting the Cypriot economy to grow 3.6% this year and 3.3% in 2019, slightly below the Finance Ministry’s forecasts also published recently.

The number of property transactions rose in April 2018 an annual 29% to 655 mainly on a strong performance of the real estate market in Nicosia, the Department of Lands and Surveys said.

The Cyprus University of Technology (Tepak) is the second best young University of Europe, while the University of Cyprus is in third place, according to the influential Times Higher Education rankings.

Cyprus and Egypt will soon be signing an agreement to connect the Aphrodite gas field to the North African country, recent press reports said.

This year will be decisive for Cyprus’ energy plans and the government is looking forward to acting as a bridge between the countries in the region and the EU, Foreign Minister Nicos Christodoulides was quoted as saying recently.