The sale of certain parts of the co-op bank to Hellenic was the best solution, a professional services official told an inquiry recently, and the €74m price tag was reasonable.

With rents having risen in Nicosia and Limassol at a higher rate than other cities, the rent-versus-buy calculus is shifting toward buying.

The comparative advantages of Cyprus as a business and investment destination were presented on Friday evening by President Nicos Anastasiades during the business forum 'Invest in Cyprus' organised by Capital Link in New York.

The US sees Cyprus as an important partner in its wider region and was working to build a stronger political relationship with the country, Deputy Assistant Secretary of State for European and Eurasian Affairs Matthew Palmer has said.

DP World Limassol, operator of the New Passenger Terminal at Limassol Port, has reaffirmed its commitment to establishing Limassol port as a major cruise hub in the Mediterranean Sea.

The European Central Bank said recently it had restarted buying Cypriot bonds under its stimulus programme after an upgrade to the country’s credit rating, and pledged to make up slowly for its 2-1/2-year exclusion from ECB buying.

Cyprus Casinos ‘C2, the island’s first licensed casino in Limassol has seen more than 175,000 individual guests and 13,000 registered members of the C2 Rewards Club loyalty programme, since it opened its doors to the public on June 28, operators Melco said recently.

The government generated a fiscal deficit of €18.7 million in the second quarter of 2018 compared to a shortfall of €86.5m in the respective three-month period last year, the statistical service said recently.

Entrepreneurs struggling to service their loans have opted for debt to asset swaps which has left banks with significant property portfolios.

Paphos has again won a Gold Quality Award as a top sustainable coastal tourist destination for 2018.