Gulf Air announced it is slashing fares on its six weekly flights to and from Larnaca for early bird travelers booking flights this in July across the airline’s Middle East and Asia network for travel in November.

Tourism arrivals could see a 5% rise by the end of the year, Cyprus Tourism Organisation (CTO) chief Angelos Loizou said after a meeting with troika representatives, the Cyprus News Agency reported.

The cabinet has approved a new plan to help the long-term unemployed, it was announced recently.

The agreement reached recently in Brussels between Greece and its international creditors was a difficult one and constitutes a clear improvement on the initial requirements, President Nicos Anastasiades says.

Cyprus’ seventh quarterly review of its economic adjustment programme agreed with international creditors in April 2013 as part of a €10-billion bailout loan recently kicked off.

The trade deficit decreased by €117.5m in the period January – April 2015, and stood at €925.3m compared to €1.042,8m in the corresponding period of 2014, figures released by the Statistical Service of Cyprus showed recently.

The first ever casino resort in Cyprus has been given the green light by lawmakers in Nicosia.

The UK Cyprus Enterprise Council joined forces with the International Professionals Association (IPA) to organise a seminar at the Cyprus High Commission in London recently to promote the island’s attractions as a centre for services, enterprise and investment.

Property sales continue to grow for the fifth consecutive month in 2015, both from the domestic and especially from the overseas markets, with Paphos continuing to lead in purchase contracts by foreign buyers recorded at the Department of Lands and Registry by 36%.

The House recently approved most of a batch of tax reform bills, aimed at streamlining taxation and encouraging investment.