2017 is developing to be the best recorded in terms of tourist arrivals for the city and district of Larnaca.

The development engine in Cyprus seems to have been put into motion as the Department of Public Works has launched a total of 87 projects worth a total of € 330.57 million from 2015 until today.

The number of company registrations rose an annual 1.2% in July 2017 to 1,304 and 1.3% to 7,750 in January to July, the Department of Registrar of Companies and Official Receiver said.

The level of non-performing loans dropped on a monthly basis in April by €48.4 million, to below €23.2 billion, or 46.1% of the total, on a decline in corporate bad loans, the Central Bank of Cyprus said.

The number of foreign property buyers dropped 8.4% in July to 87 compared with the respective month of 2016, the Department of Lands and Surveys said.

Lending interest rates for the main loan categories increased in June 2017 according to data released by the Central Bank of Cyprus.

The number of registered unemployed dropped a significant 12.3% year-on-year in July 2017 according to data from the Cyprus Statistical Service.

After seven years at the helm of National Bank Cyprus, Nicos Beis will step down from CEO, with Christos Christodoulou taking his place.

Consumer prices fell an annual 0.7% in July 2017, mainly on fresh fruit and vegetables, offsetting an increase in electricity prices, the statistical service said.

The Central Bank of Cyprus said that Cypriot banks made less progress than expected in the first quarter of 2017 in meeting the four target indicators for reducing non-performing loans.