The Cypriot economy grew by 3.4 per cent in the third quarter of this year on an annual basis, data released by the Cyprus Statistical Service on Monday showed.

New mortgages valued at €2.5 billion were recorded over the first nine months of 2019, reflecting the state of play of real estate in Cyprus.

The outcome of talks between Cyprus and Israel over a dispute regarding the offshore border with Israel’s Yishai gas field will not affect development of the island’s Aphrodite gas field, Energy Minister Giorgos Lakkotrypis said on Monday.

EY announced it is coming together with the Partnership on AI, a multistakeholder not-for-profit corporation formed to better understand the impacts of artificial intelligence (AI) technologies and to serve as an open platform for discussion and engagement around AI’s impact on people and society. This decision reflects the commitment of EY to collaborate with the public and private sectors, civil society, academia and beyond, not only to establish governance and controls necessary for building and maintaining trust in AI systems, but also to help ensure the meaningful technological advancements of AI will have a positive impact.

Privatising the Cyprus Telecommunications Authority (Cyta) and continuing the government’s fiscal policy are top of the new Finance Minister Constantinos Petrides’ to do list.

The Agriculture Ministry is preparing an ambitious scheme to increase the production of goats and sheep milk by genetically enhancing livestock to meet a spike in demand for Cyprus’ squeaky cheese.

Nicosia reaffirmed its commitment to projects which will end Cyprus’ energy isolation and increase the island’s security of supply by connecting it to the rest of the European Union.

Cyprus recorded annual deflation of 0.5% in November 2019, while for the first 11 months of the year inflation of 0.2% was recorded.

As construction on the new Metropolis Mall in Larnaca, near the general hospital, is moving ahead at a rapid pace, retailers are moving in to grab the best store locations in the first shopping mall for the wider region.

New Finance Minister Constantinos Petrides warned against complacency on Friday, as the effort to bolster the Cypriot economy has not finished yet and more reforms were needed.