Five years after the bail-in agreement and the enforcement of the Economic Adjustment Program that compelled Cyprus into turning a page, the island is now expecting to record a 2.7 per cent fiscal surplus this year compared with a target of 1.7 per cent in the April 2018 Stability Programme Update. Indicative of the country’s positive performance is the fact that it recently returned to the investment grade, following evaluation by some of the most important credit rating agencies.

The groundbreaking ceremony of City of Dreams Mediterranean, Europe’s biggest casino resort, took place n Limassol, on June 8, 2018. The ceremony was attended by President of the Republic of Cyprus, Nicos Anastasiades, the Chairman and CEO of Melco, Lawrence Ho and Managing Director of CNS Group, Melis Shiacolas.

Limassol seems to have a leading role in growth rates as investment projects are in excess of €1 billion for the period 2017-2019. The projects include among others the The Oval, the ONE, the Parklane Luxury Collection and Spa, as well as the Lanitis Seafront. Along with the development of marina and old port, as well as the Olympic Residence, all these construction and property schemes constitute the forefront of the Cypriot economic development.

The President of the Republic of Cyprus, Nicos Anastasiades, concluded on Tuesday 24/10, his two-day official working visit to Moscow with a meeting with his Russian counterpart Vladimir Putin. The meeting was followed by the signing of bilateral agreements between the two countries.

Cypriot President Nicos Anastasides, Israeli Prime Minister Benjamin Netanyahu and Greek Prime Minister Alexis Tsipras, met on Thursday in Thessaloniki for their fourth trilateral Summit. The leaders declared after their meeting that they are planning to accelerate the development of the pipeline (EastMed Project) that will channel natural gas to Europe from the newly discovered reserves in Israel and Cyprus. Mr. Netanyahu, said that if the pipeline becomes a reality, will signal tremendous prospects.

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