Cyprus appears in a list of 21 countries whose 'golden passport' schemes threaten international efforts to combat tax evasion, according to an Organisation for Economic Cooperation and Development (OECD) report.

Upgrading the historical centre of Ayia Napa and the implementation of other projects will increase tourist arrivals to the resort by 150,000 and extend the tourist season by three months, Mayor Yiannis Karouzons told the press recently.

Cyprus ranked first at the end of 2017 among EU countries in terms of absorption of funds from the European Regional Development Fund and sixth from all European Funds, Dean of European Court of Auditors, Lazaros Lazarou recently.

Non-performing exposures (NPEs) in the Cypriot banking system declined to 40.3% of total loans in the end of June 2018, marking a reduction of €3.28 billion compared with the end-of March 2018, and €10.7bn or 39.1% since the end-of December 2014, the Central Bank of Cyprus (CBC) said recently.

Cyprus Airways recently announced it had become a member of the International Air Transport Association (IATA) that represents more than 280 airlines around the world.

Construction giant J&P Overseas Limited has gone into administration after its lenders rejected its restructuring proposal, it was announced recently.

Four major investment firms have expressed an interest in financing the construction of a pipeline that would transport natural gas from Cyprus to Egypt, Bloomberg reported recently.

Pafilia Property Developers proudly announces the launch of two high-end, exclusive projects in the cosmopolitan city of Limassol; namely Vetro Suites and Amathos Residences. The respective developments boast elegant apartments and claim prime locations in the buzzing seaside town, further enhancing Pafilia’s strategic development in the city.

Regional developments, the Cyprus issue, energy and telecommunications, as well as matters concerning the diaspora will be discussed during the 6th Trilateral Summit of Cyprus, Greece and Egypt to be held in Elounda, Crete on Wednesday 10th October, 2018.

Cypriot households and businesses outside the finance sector continue to be the most indebted sectors of the economy, the Central Bank said in a report recently, despite the drop in non-performing loans.