July saw a 77% increase in Israeli tourists to Cyprus in comparison with July 2016 while hotel searches for Cyprus have increased by 400% according to a study by hotel price comparison website HotelsCombined.

Bank of Cyprus, the island’s largest lender, has said that it will post a loss of €550m in its half-year results as a result of an increase of provisions for loan impairments by €500m and will return to profitability next year.

The Paphos Chamber of Commerce and Industry (CCI) is promoting plans for a jetty in Paphos and a jetty or marina in Polis Chrysochous.

The trade deficit in Cyprus marked an increase of 21.25% in the first five months of 2017 and from €1.660,3 million it was increased to €2.108,2 million.

Royal Dutch Shell Plc said it is considering buying natural gas from Israel’s Leviathan field and with gas from Aphrodite, turning the eastMed into a major gas producing hub.

The record-high tourist arrivals, which rose an annual 15% over the past 7-month period edging 2 million is a credit positive for Cypriot lenders, Moody’s Investors Service said.

Public finances are fully in check and within the targets set in the 2017 government budget, Finance Minister Harris Georgiades said recently.

New developments in the energy sector will be discussed at the 5th Energy Symposium, to be organized on November 1, 2017 in Nicosia, by the Institute of Energy for South-East Europe and fmw financial media way.

Demand for loans is gradually picking up and, although it has yet to reach the peaks of previous years, it is creating mobility at banking branches for all sorts of services.

The Industrial Turnover Index for May 2017 reached 90.2 units (base 2010=100), recording an increase of 18.1% compared to May 2016.