The Department of Agriculture of the Ministry of Agriculture, Rural Development and Environment, as the National Rural Network, in cooperation with the European Network for Rural Development (ENRD), are organising the 9th Meeting of representatives of National Rural Networks of the EU member states.

In 2016, flows of money sent by residents of the European Union (EU) to non-EU countries, referred to as personal transfers, amounted to €30.3bn, compared with €31.3bn in 2015.

Home prices rose in the second quarter 1.1% compared with the respective quarter of 2016 and a quarterly 0.5% as flat prices pick up, the Central Bank of Cyprus said.

The trade deficit in the first nine months of the year widened by €162.4m to €3.2bn compared with a year before, mainly on increased imports, the statistical service said.

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”.