Despite having had its operating license revoked, grounded Cobalt Air remains a going concern and has retained its air operator’s certificate (AOC), the press has learned.

Prof. Dr. Ben J. M. Terra, arguably Europe’s top authority on Value Added Tax (VAT), will join local expert, Alexis Tsielepis, to present the implications of VAT in the Financial Services industry at a high-level seminar in November 2018.

Building permits authorized by the municipal authorities and the district administration offices increase by 342 during the period January – August 2018, according to data released by the Statistical Service of Cyprus.

The Minister for Energy Yiorgos Lakkotrypis has held meetings in London with international energy firms that are involved in gas production at the Republic of Cyprus’ Exclusive Economic Zone, according to recent press reports.

The Cypriot economy is expected to maintain its strong growth rates in the next couple of years though risks linked with the banking sector remain, the European Commission’s autumn forecasts project.

Banks’ Non-performing facilities (NPFs) decreased by €24 million in July 2018 to €16.61 billion from €16.63 billion in the previous month, according to figures released recently by the Central Bank of Cyprus.

Industrial production followed an upward trend and increased by 11.2% in 2017, according to provisional estimates released by the Cyprus Statistical Service recently.

According to Insider, the French giant Bouygues Batiment International is in advanced negotiations with regards to the shares it controls at Hermes Airports.

In order to acquaint pupils and students as well as their teachers with scientific research procedures, the Research Promotion Foundation (RPF) has launched the annual competitions 'Students in Research – Mera 2018-2019' and 'Technology and Innovation in Education – Teke 2018-2019', in collaboration with the Centre for Educational Research and Evaluation (KEEA) of the Ministry of Education and Culture.

Tourism Minister Yiorgos Lakkotrypis recently concluded a two-day series of meetings with major tour operators and airlines within the framework of the annual World Travel Market in London, stating his overall satisfaction both with performance of Cypriot tourism in 2018 and with the results of these meetings.