The unemployment rate fell to 11% in November 2017 from 13.1% in November 2016 but rose from 10.5% in October 2017, said Eurostat.

Cyprus’ trade deficit widened 18% in January to November 2017 to €4.6bn or by €715.9m compared to the respective period of 2016, the statistical service said.

Non-performing loans in the Cypriot banking system fell by €388.4m in September 2017 to €21.5bn compared to August mainly on reduced corporate delinquent loans, the Central Bank of Cyprus said.

By 2021, Cyprus’ first integrated casino resort will open its doors to the public, in an investment totaling €550m, it was revealed recently.

Hellenic Bank’s preliminary agreement to sell €145m of non-performing, non-retail secured and unsecured loans to Norway’s B2Holdings ASA is a credit positive for the lender, Moody’s Investors Service said.

In early February Moody’s agency will issue its first rating for the Cypriot economy, opening the way for a round of rating actions, estimated to mark the return of Cypriot junk-rated bonds back to investment-grade.

The number of property transactions in December 2017 rose an annual 36% to 1,537, the highest number reported since July 2008, the department of lands and surveys said.

Cyprus' Ministry of Finance says the island has signed a double tax agreement with Saudi Arabia with respect to taxes on income and for the prevention of tax evasion.

The economic sentiment indicator dropped by 3.4 units in December 2017 to 118.9 units from its November peak, mainly on reduced business confidence in the services sector, the University of Cyprus said.

Italian naval frigate the Espero arrived in Larnaca port as part of maritime operations on January 4, 2017 and will remain docked there until January 8.