Fitch Ratings has upgraded Cyprus’ long-term debt in foreign currency by one notch to ‘BB’, one upgrade short of an investment-grade rating, it announced recently.

Brookstreet Hellenic Growth Fund by Brookstreet Equity Partners is understood to be successfully wrapping up its first fundraising round to proceed with investments.

The Industrial Turnover Index for July 2017 reached 99,2 units (base 2010=100), recording an increase of 15.3% compared to July 2016.

The government generated a fiscal surplus of €82.5m, or 0.5% of gross domestic product (GDP), last year, against a 1.2% deficit in 2015, the statistical service said citing revised figures.

The US Cato Institute and Canada’s Fraser Institute said that Cyprus was ranked 14th in their co-published 2015 Economic Freedom of the World index with 7.79 points, just ahead of Denmark which scored 7.77 points and behind Lithuania with 7.92 points.

As early as March 2014 the Cyprus Securities and Exchange Commission (“CySEC”) alerted potential investors to the risks associated with investment in virtual currencies or contracts for difference linked to them.

Cypriot private equity firm Nearchi Investment has announced it has acquired Orion Airways (FOH, Larnaca) from Aviation Capital Ventures (ACV) for an undisclosed sum.

Tourist arrivals rose 15% year-on-year in September, to 483,716, which is an all-time high for the month, mainly on a strong increase in incoming tourism from secondary markets, the statistical service said.

Finance Minister Harris Georgiades said that Cyprus’ public debt which stood at 107.8% of economic output last year will fall below the 100% mark within weeks, proving wrong a recent forecast of the International Monetary Fund (IMF), the Cyprus News Agency (CNA) reported recently.

Non-performing loans in the Cypriot banking system fell in June by €610.2m in a month to €22.4bn, the lowest since the introduction of the current methodology, the Central Bank of Cyprus said.