Revenue from tourism rose 24% to €46.6m in February compared to the respective month of 2016 after arrivals rose at a similar pace, the statistical service said.

Cyprus Airways has announced the first three destinations that will be included in its flight schedule for the first phase of its launch, to begin in June 2017.

Four years after the 2013 financial crisis, Cyprus has completed the economic adjustment programme ahead of the initial time frame without requiring the entire funds that were originally foreseen.

Over 100 exhibitors are taking part in what is set to be the largest boat show ever organised in Cyprus at the Limassol marina next week.

Deposits in the Cypriot banking system rose by €332.1m monthly in March 2017 to €49.6bn, the highest since July 2013, as loans rose by €132.8m to €55bn, the Central Bank of Cyprus said.

Government guarantees extended mainly to general government bodies fell last year to below €2bn from €3bn the year before, the Public Debt Management Office (PDMO) said.

According to a recent report of TheMoveChannel.com, Cyprus ranks 6th in the top 10 most popular destinations for property purchases.

In April 2017, economic sentiment in Cyprus picked up as the Economic Sentiment Indicator (ESICypERC) increased by 1.3 points compared with March 2017, driven by confidence improvements in services, construction and retail trade.

Cyprus has further tightened its system against money-laundering by complying with two new sets of provisions from the International Financial Action Task Force (FATF) and the 4th Directive on money-laundering.

Cyprus is holding its first annual conference of an international financial institution, where the European Bank for Reconstruction and Development’s Annual Meeting and Business Forum will take place in May in Nicosia.