The government generated a fiscal surplus of €255m on a cash basis in January 2018, compared to €168m in January last year, as the increase in revenue outpaced that of expenditure, the Finance Ministry said.

Trilogy Limassol Seafront, the integrated beachfront development by Cybarco – currently under construction on Limassol’s coastline – has announced the official launch of sales for the luxury apartments and offices in its two front towers. The West Tower is due for delivery atthe end of 2021 and the East Tower will follow just three months later, in March 2022.

With the tender awarded for the second phase of construction and excellent progress being made in the creation of necessary port infrastructure, the rebranding of the Ayia Napa Marina – which started in September 2017 – has now been completed with the launch of a new website, with form and functionality that perfectly reflects the project’s international and sophisticated character.

DP World Limassol, as the exclusive operator of the multi-purpose terminal in Limassol Port, organizes the Inauguration Ceremony of the new Cruise Terminal in Limassol Port which will be held at Limassol Port - New Passenger Terminal on 3 May 2018, at 19:00.

The value of wholesale and retail trade and repair of motor vehicles increased 5.6% in 2017 compared to the corresponding period of 2016, according to data released recently by the Statistical Service of Cyprus.

Cyprus and the UK recently signed an updated agreement on double taxation avoidance on income and capital, which will contribute to further develop commercial and financial relations between the two countries.

A Cypriot investor signed a $4.2 billion deal recently to develop a platinum mine and refinery in Zimbabwe, an investment that President Emmerson Mnangagwa said showed the country was “open for business”.

Limassol is amongst the top 100 cities of the world according in the ‘Quality of Living Index’ produced by Mercer, one of the world’s largest HR consultancy firms, that evaluated local living conditions in more than 450 cities.

A new administrative marina management committee has been appointed by the council of ministers and is currently examining documents and paperwork submitted as part of the tender process for the highly anticipated Paphos marina.

Energy Minister Giorgos Lakkotrypis said recently that despite the geopolitical challenges and recent incidents in Cyprus Exclusive Economic Zone (EEZ), the government remained committed to exploiting hydrocarbon reserves in the Eastern Mediterranean.