Ayia Napa mayor Yiannis Karousos is confident that direct flights to Larnaca Airport from the Russian regions of Ivanovo and Vladimir will help boost tourism business in the popular summer resort.

Hellenic Bank is currently undergoing a transformation with a major focus on modernisation and technology.

Shares at the Cyprus Stock Exchange took a plunge on news of the outcome on the British referendum in which British voters decided to leave the European Union.

The only immediate impact to Cyprus’ tourism from the Brexit will be the fallout from the plunge in the British pound sterling, making holidays in Europe, including Cyprus, more expensive for Brits, industry players said recently.

Before the referendum I wrote a piece on what might happen to the expat pound in your pocket in the event of Brexit. The following is an update based on the events since the referendum.

The visit of a large, multi-member representation from the Ukraine in Cyprus between 12 and 16 June, 2016 was completed successfully.

Loans exceed the volume of debt securities in Cyprus (69%) as a main financial instrument for 2015, according to Eurostat.

Cyprus hopes to sell a new bond worth as much €1 billion and orchestrate a buyback of some of its older bonds this year, Phaedon Kalozois, head of Cyprus’ debt office, said recently.

The industrial turnover index rose in March 2016 by an annual 2.9%, boosted mainly by increased sales by Cypriot manufacturers and companies in the mining and quarrying industry, the statistical service said.

The government expects to have the bids for the third oil and gas offshore exploration round by July 22, 2016 DIKO MP Angelos Votsis said recently.