Three Cyprus projects will benefit from a wider European Commission cash injection to improve transport infrastructureand boost jobs and growth.

The bid by Bank of Cyprus (BoC) for a listing on the London Stock Exchange will not be affected by an exit of the UK from the EU according to senior bank officials.

The government is implementing a new Cyprus shipping strategy to widen the sector’s horizons and create new opportunities for expansion into new markets, Transport Minister Marios Demetriades said during his address at the 5th Mare Forum Cyprus 2016.

Cyprus needs to maintain its reforms momentum in the public sector, reduce NPLs, and ensure labour market flexibility to strengthen its long-term growth potential and attractiveness as an investment destination, the annual European Stability Mechanism (ESM) report said recently.

Ancoria Bank has launched operations with two branches, in Nicosia and in Limassol, a total staff of 60 and an initial capital of €50m, the lender’s chief executive officer said.

The number of tourist arrivals rose in May 2016 by 19% to 364,943 compared with the respective month of 2015, mainly on a strong rise from several of Cyprus’ major sources of incoming tourism, the statistical service said.

The cabinet has agreed on a National Investment Fund to be established to handle future revenue from the management of natural gas resources, said Finance Minister Harris Georgiades recently.

The number of job vacancies in Cyprus dropped year on year in the first quarter of 2016 but the overall job vacancy rate was stable.

Cablenet, the Number 2 provider of triple play services and second biggest broadband provider in Cyprus, plans to introduce mobile service by the end of the year, transforming it into a quad play company.

Nicosia is aiming to put in place a State Secretariat for Development, with the main goal being to fast track licensing for large investments in the Cypriot economy.