Cyprus has made some progress in transparency and taxation matters, but there is more to be done, Alain Lamassoure, chairman of the European Parliament’s Special Committee on Corporate Taxation II (TAXE2) said recently.

Around 25 sailboats from Israel are expected to arrive at Larnaca marina toward the end of April 2016 for the Hebrew Passover, which overlaps with the Greek Orthodox Easter period, according to the marina chief Christos Petrides.

Three international entities have expressed interest in setting up shops, a small hotel and an exhibition space at the old Larnaca airport terminal building, Transport Minister Marios Demetriades said recently.

Tourist arrivals in March 2016 rose almost 41% to 137,013 compared to the respective month of 2015 mainly on increased arrivals from the United Kingdom, Cyprus’ largest source of incoming tourism, the statistical service said.

International Monetary Fund (IMF) Managing Director Christine Lagarde congratulated the Cypriot authorities on the favourable economic results achieved under the adjustment programme.

In a recent decision of the District Court of Nicosia, it has been held that Cyprus Courts have jurisdiction to adjudicate on applications for enforcement of foreign judgments and foreign arbitral Awards, even if both the judgment creditor and judgment debtor reside outside Cyprus.

The Fitch Ratings agency has upgraded Bank of Cyprus’ covered bonds three notches, from B+ to BB+ with a stable outlook, one notch below investment grade.

VTT Vasiliko Ltd (VTTV), the Vasilkos-based energy terminal company, took part in the recent Limassol Marathon in support of the Karaiskakio Foundation, which offers assistance to patients of leukaemia.

The International Monetary Fund said that Cyprus’ government will generate a fiscal surplus of 0.1% of the economy in 2016, after generating a 1.7% budget shortfall in 2015.

The number of property transactions carried out at district offices of the department of Lands and Surveys in March 2016 rose an annual 19% to 539, after rising 54% the month before, the department said.