Revenue from tourism rose to a new high in 2018 according to data released recently by the Statistical Service.

ExxonMobil, a US based oil giant, announced on Thursday, 28 February 2019, a colossal gas discovery located at reservoir “Glaucus-1” in Block 10, located southwest of Cyprus in the Eastern Mediterranean region.

EY Cyprus hosted the IFRS 17 training that took place on Thursday, February 28th, 2019, at the EY Nicosia premises. The training was organized by the Cyprus Insurance Association with the active support and involvement of EY Cyprus experts.

Cyprus and ExxonMobil recently announced a gas find estimated between 5-8 trillion cubic feet in an offshore field inside the island’s exclusive economic zone (EEZ).

According to several online news sources, ExxonMobil is allegedly about to announce a significant natural gas find off Cyprus’ southern coast.

EY Cyprus was a gold sponsor of the 3rd Annual Capital Link Cyprus Shipping Forum which was held at the Columbia Plaza, in Limassol, on Wednesday February 27th. Charalambos Constantinou, Partner, Head of Advisory Services, EY Cyprus moderated the panel on Marine Insurance and Reinsurance.

Total deposits in the Cyprus banking system amounted to €47.53b in January 2019 marking a net reduction of €342.7m compared to December, data released by the Central Bank of Cyprus (CBC) showed.

MTN Cyprus and Chinese telecoms giant Huawei have agreed on a strategic cooperation on the development of a 5G network in Cyprus, initially through a joint research programme and then using a commercial set of services.

Cyprus faces ‘excessive’ budgetary imbalances, the European Commission said recently in its winter package report approved by the College of Commissioners and presented in Brussels by Vice-President Valdis Dobrobowski, Commissioner Moscovici and the Commissioner Tysen.

A 5% increase in turnover of retail trade in 2018 has encouraged local and foreign businesses to invest in the Cyprus sector.