Last week, during talks held in Beirut between the Cyprus Foreign Minister, Mr. Nicos Christodoulides and Energy Minister, Mr. Yiorgos Lakkotrypis and their Lebanese counterparts Mr. Gebran Bassil and Mr. Nada Boustani it was agreed that the two countries will commence negotiations on the exploitation of natural gas reserves in their exclusive economic zones (EEZ).

The government has scrapped a competition regarding the development of Larnaca’s marina and port as a single project, but will be engaging in direct negotiations with the last remaining bidder.

The Association of Cyprus Travel Agents (Acta) recently welcomed steps being taken to boost tourism through the creation of the new deputy ministry, and plans to increase air connectivity to the island.

Egypt Petroleum Minister Tarek El Molla argues that natural gas can act as a catalyst in the promotion of peace and stability in the East Med region.

RCB Bank is extending its range of fixed-term deposit solutions in the context of its new five-year strategy for organic growth in the Cyprus market.

Rents in Cyprus are continuing their upward trend, spiking by 40% on average in Limassol and 33% in Nicosia compared to 2018, according to the Labour Ministry.

Cyprus had the highest deficit ratio in the EU in 2018 at 4.8% of GDP and fourth widest government debt ratio at 102.5% of GDP.

The Industrial Turnover Index in January 2019 registered the highest ever point for the first month of the year since data began being collected, according to figures released by the Statistical Service.

The EU-backed EuroAsia Interconnector project, connecting Cyprus’ isolated electricity grid with those of Israel, Greece and consequently the rest of Europe, is vital for establishing a competitive energy market and exchange.

Shipping Deputy Minister Natasa Pilides said there is increased interest by shipping companies to establish a base in Cyprus after Brexit, in order to maintain their EU status for easier trading ties with Europe.