Cyprus tourism is in for a rough ride this year with officials saying that maintaining 2018’s tourist arrival figures would be deemed a success.

A small increase of 0.4% in deposits in Cyprus banking institutions was recorded in April 2019 after a drop in March said the Central Bank, while loans recorded a decrease.

New career opportunities have opened up as Melco expands its Cyprus satellite casinos in Ayia Napa, Nicosia and Limassol.

The lifting of the restrictions imposed by Turkey on Cypriot-flagged ships would result in a win-win situation, Chairman of the International Chamber of Shipping (ICS) Esben Poulsson said recently.

The law firms of STELIOS AMERICANOS & CO LLC and CH.P. SAVVIDES & ASSOCIATES LLC with great pleasure announce that they have merged. The law firm Stelios Americanos and Co LLC (the “Law Firm”) now incorporates by way of merger the law firm Ch. P. Savvides & Associates LLC and, as a result, the partners, lawyers and employees of Ch. P. Savvides & Associates LLC have become partners, lawyers and employees of Stelios Americanos and Co LLC and have moved to the Law Firm’s Nicosia offices.

A worsening of economic confidence in services, retail trade and among consumers in May 2019 saw the University of Cyprus Economic Sentiment Indicator (ESI‐ CypERC) decline by 1.3 points from April this year.

Rolf Strauch, the European Stability Mechanism’s (ESM) chief economist called for the continuation of prudent economic policies and keeping fiscal buffers as external risks, such as trade wars and Brexit, could affect the growth of small and open economies such as Cyprus.

The rating agency DBRS has confirmed Cyprus’ Long-Term Foreign and Local Currency – Issuer Rating at BBB (low) and Cyprus’ Short-Term Foreign and Local Currency – Issuer Rating at R-2 (middle).

Cyprus’ construction industry is enjoying a revival and continuing to regain the lost confidence of the crisis years, with stakeholders encouraged by an increase in diversified activity such as demand for student accommodation.

Elias Neocleous & Co LLC has been awarded Benchmark Litigation’s prize ‘Law Firm of the Year – Cyprus’ and its Partner and Head of Litigation and Dispute Resolution department Chrysanthos Christoforou was named ‘Lawyer of the Year – Cyprus.’