Revenue from tourism rose in May 2017 an annual 19% to €291.5m against a 15% annual increase in arrivals, the statistical service said.

There appears to be increasing interest for Cyprus alternative investments in 2017.

As Cyprus’ recovery continues from the 2013 financial collapse, banks share prices on the Nicosia stock exchange have shown strong signs of stability during the summer.

Moody’s Investors Service recently upgraded Cyprus’ credit rating a notch from B1 to Ba3 which is still three grades into the speculative area, citing the economy’s resilience and a fiscal overperformance.

The Bank of Cyprus must include the sale of non-performing loans (NPLs) in its toolkit if it is to achieve its ambitious target to halve their ratio to 20% by 2019 says Moody’s Rating Agency.

Economic sentiment in Cyprus deteriorated marginally in July, the Economic Research Centre (ERC) of the University of Cyprus has said.

The Central Bank of Cyprus said overall deposits dropped by €432.9m in a month in June 2017, to €48.5bn, as total loans also dropped €43.4m, to €54.3bn.

Cyprus` public debt in the second quarter of 2017 amounted to €19.35 billion, the Cyprus Public Debt Management Office (PDMO) said recently.

The first bank in Cyprus to do so, Eurobank Cyprus has announced the launch of UCITS ERB Funds VCIC PLC, strengthening its leading position in the Mutual Funds industry in Cyprus.

Moody’s ratings agency said Bank of Cyprus (BoC) will have to include the sale of its non-performing loans (NPLs) in its toolkit if it wants to attain its target of halving the ratio to 20% by 2019.