More than 150 foreign investors from 30 countries are expected to attend the 'Cyprus International Investors Summit 2017' in Limassol to explore opportunities in real estate and leisure.

Four years after the economic crisis that resulted in the bail-in of depositors of two of the biggest banks in Cyprus and the EUR 1.7bn state-aid to the Cooperative Central Bank, the banking system stands now on a much more solid foot. Having overcome previous re-capitalization needs, the banks are now more focused towards dealing with the ‘number one’ problem of the Cypriot economy; their nonperforming exposures (NPEs).

We have many discussions with managers who offer funds with great performance, perceived market appeal and a good regulatory profile, but which are lacking in investor engagement and therefore, subscriptions volume. Investors simply aren’t listening to them and are going elsewhere. What’s going wrong?

The Republic of Cyprus, through the private sector and the University of Cyprus, is claiming funding of €10m to €12m for the development of a €24m research program through the EU Horizon 2020 program.

The consortium which will build a super casino resort in Cyprus has had its new composition approved by the Gaming Commission.

President Nicos Anastasiades announced recently new projects for Famagusta amounting to €34.4 million.

The amount of transactions completed with the use of cards rose in August 2017 by 17% to €223.2m compared with the respective month of 2016, JCC Payment Systems said.

Cyprus’ trade deficit from January to July 2017 widened 5.9% to €2.6bn compared with the respective period last year, mainly on increased imports and stagnant exports, the statistical service said.

Energy Minister Yiorgos Lakkotrypis was briefed on initial findings from drilling by a consortium of France’s Total and Italy’s Eni in block 11 in Cyprus’ exclusive economic zone recently and will in turn brief the House Commerce committee.

Cyprus’ trade deficit recorded an annual increase of €264 million in the first half of 2017.