Melco International Development Ltd, will assume the majority stake of 70.74% shareholding of the integrated casino resort project with the agreement to purchase Hard Rock’s interest in the company.

The signing of the contract for Cyprus’ first casino resort will take place on Monday 26 June 2017 in Nicosia.

The Central Bank of Cyprus said that Cyprus’ current account deficit posted a €721.1m deficit in the first three months of the year compared to a surplus of €73.2m in the respective quarter of 2016.

President of the Republic Nicos Anastasiades has expressed his strong belief that even though Cyprus has yet to reach its full potential in terms of economic growth, it is on the right track.

Pafilia Property Developers, renowned for its dedication to excellence and its highly desirable luxury properties, adds another contemporary development to its extensive portfolio, Domus in Pafos.

Moody’s Investors’ Service has upgraded Bank of Cyprus Public Company Limited’s (BoC’s) long-term local and foreign currency deposit ratings to Caa1 from Caa2 and its Provisional Senior Unsecured EMTN ratings to (P) Caa1.

Cyprus’ €850m bond issue reduces refinancing risks and demonstrates the sovereign's improved financing flexibility, Fitch Ratings said, although some factors continue to weigh on the island’s sovereign credit profile.

According to the results of the Labour Force Survey, the labour force in the 1st quarter of 2017 amounted to 423,794 persons or 61.5% of the population (males 67.1%, females 56.4%) in comparison to 409,599 persons (60.3%) in the corresponding quarter of 2016.

The Central Bank of Cyprus said that it revised its 2017 economic growth forecast to 3.1% in 2017 from a 2.8% growth rate in December, which slightly more optimistic than the Finance Ministry’s forecast.

French energy giant TOTAL is expected to start exploratory drilling in block 11 of the Cyprus Exclusive Economic Zone on July 14.