Drilling in Cyprus’ offshore Block 11 will go ahead this month, with tests set to begin on July 12, jointly conducted by France’s oil and gas company Total and Italy’s ENI, it emerged recently.

Hoteliers and people engaged in the tourism sector across the island are feeling content with the results of the industry on both sides of the divide over the first five months of 2017.

The following is an article from LSTS taxoptimus, dated 29 June 2017

Total deposits in the Cypriot banking system rose last month by €168.8m to €49.1bn as total loans dropped by €193.6bn to €54.1bn compared with April 2017, the Central Bank of Cyprus said.

The creation of an integrated casino resort on the island is expected to boost state revenues in addition to creating thousands of jobs and attracting hundreds of thousands of tourists every year, commerce minister Giorgos Lakkotrypis said recently.

Melco International Development Ltd, will assume the majority stake of 70.74% shareholding of the integrated casino resort project with the agreement to purchase Hard Rock’s interest in the company.

The signing of the contract for Cyprus’ first casino resort will take place on Monday 26 June 2017 in Nicosia.

The Central Bank of Cyprus said that Cyprus’ current account deficit posted a €721.1m deficit in the first three months of the year compared to a surplus of €73.2m in the respective quarter of 2016.

President of the Republic Nicos Anastasiades has expressed his strong belief that even though Cyprus has yet to reach its full potential in terms of economic growth, it is on the right track.

Pafilia Property Developers, renowned for its dedication to excellence and its highly desirable luxury properties, adds another contemporary development to its extensive portfolio, Domus in Pafos.