Hellas Direct, a next-generation insurance company, has today announced the acquisition of Rescueline, the largest road-assistance company in Cyprus, catering to some of the island’s leading insurance companies and more than 300,000 consumers.

Cyprus inflation rate accelerated in January 2019, according to data released by Eurostat.

Unemployment in Cyprus fell to 7.6% in the 4th quarter of 2018, from 7.8% in the 3rd quarter, according to the labour force survey by the Statistical Service.

The western part of Limassol is next in line to get a sustainable revamp as the town’s municipality is set to complete and launch new construction projects in the area.

Cyprus is ranked 24th out of the 28 EU member states for renewable energy use in transport, according to a Eurostat study based on 2017 data.

ExxonMobil’s drilling exploratory drilling at the Glafcos-1 site in block 10 is believed to have struck a sizeable gas reserve, according to press reports.

The tourism sector is aiming to maintain arrival rates this year at the same level as in 2017 and 2018, something which head of the association of travel agents (Acta) Vassilis Stamataris said could happen.

Some 21 big projects valued a combined €8 billion need a cash injection says the Large Investment Projects Association in a brochure issued in an effort to promote Cyprus as an ideal investor destination.

Maritime Cyprus, the brand name for the island’s shipping cluster and the competent junior ministry, plans to expand its international presence through a series of measures to be implemented this year, including more offices in leading ports, further reform of the already successful tonnage tax system and incentives to boost the physical presence of companies on the island.

One of Cyprus’ goals is to attract special interest tourism which is huge market but it takes time, specialisation and targeted actions, Deputy Minister for tourism, Savvas Perdios, said recently.