President Nicos Anastasiades announced recently new projects for Famagusta amounting to €34.4 million.

The amount of transactions completed with the use of cards rose in August 2017 by 17% to €223.2m compared with the respective month of 2016, JCC Payment Systems said.

Cyprus’ trade deficit from January to July 2017 widened 5.9% to €2.6bn compared with the respective period last year, mainly on increased imports and stagnant exports, the statistical service said.

Energy Minister Yiorgos Lakkotrypis was briefed on initial findings from drilling by a consortium of France’s Total and Italy’s Eni in block 11 in Cyprus’ exclusive economic zone recently and will in turn brief the House Commerce committee.

Cyprus’ trade deficit recorded an annual increase of €264 million in the first half of 2017.

Commercial real estate worth around €200 million is looking to be off loaded by local banks searching for extra liquidity.

The economy of bailed-out eurozone member Cyprus recorded 0.9% growth in second quarter 2017, official data showed recently.

Cyprus’ economy expanded an annual 3.6% in Q2 2017 compared to the respective quarter last year, and a seasonally adjusted 3.5% on a boost from tourism, trade, and construction, the statistical service said.

The consumer price index dropped 0.2% in August 2017 compared with the respective month of 2016 mainly on more affordable agricultural produce which more than offset higher energy prices, the statistical service said.

The construction area of housing projects that obtained a building permit in the first half of the year rose an annual 36% to 494,724 square meters and their value rose 38% to €482.6m, the statistical service said.