Building permits for residential buildings rose in January to August 2017 an annual 43% in terms of construction area to 683,246 square meters and 52% in terms of value to €699.2m, the statistical service said.

Capital Intelligence, the Limassol-based rating company, said that it revised Bank of Cyprus’ outlook from stable to positive and affirmed the financial strength rating of B+ citing an expected reduction in the bank’s delinquent portfolio as the economy improves.

Energy Minister Yiorgos Lakkotrypis presented the benefits of Cyprus as an investment destination during a business event organised in London.

The European Bank for Reconstruction and Development (EBRD) has upgraded its forecast of Cyprus' economic growth to 3.5% and 2.5% in 2017 and 2018, local media reported recently.

Non-performing loans in the Cypriot banking system fell by €57.8m in July 2017 compared with the month before to €22.4bn as the pace of restructurings dropped, the Central Bank of Cyprus said.

Around 2011, and while attending a conference about real estate in Beirut, I heard a comment that struck my attention and that I still refer to today; when asked about how to forecast future demand, one of the large developers, speaking on a panel of experts, replied using two simple words: “gut feeling”.

According to a recent report from Cyprus Investment Funds Association (CIFA), Cyprus is fast becoming a location of choice for many promoters and fund managers, with the regulatory and government bodies actively promoting Cyprus as a center of excellence for the international fund and asset management industry.

Central banks unwinding quantitative easing, elevated debt levels, multi- century all-time lows in interest rates, economic problems in ‘developed’ economies, stretched asset prices, and Brexit are just some of the potential sources of the next financial crisis, according to the latest research from Deutsche Bank in September 2017.

Mr. Kevin Mudd, from KMG Capital Markets Ltd, says the European Commission’s effort to create a Capital Markets Union (CMU) within the EU must be backed and supported by all parties involved in the financial services sector. However, whilst many barriers have been removed by recent or forthcoming Regulation and Directives, (for instance, EMIR, CSDR and MiFID II), significant steps must still be taken for the creation of a truly unified capital markets industry.

French oil giant Total and Italy’s Eni plan to start drilling in a joint exploration block off Cyprus by the end of this year or early 2018, President Nicos Anastasiades told French daily Le Figaro.