Chairman of the Maritime Institute of Eastern Mediterranean 'Marinem', Zacharias Shiokouros, has put forward a proposal aiming at promoting cruise tourism in the region.

The European Bank for Reconstruction and Development (EBRD) says it is ready to invest in northern Cyprus, potentially for years, if a deal to unify the divided island can be reached.

The Bank of Cyprus announced recently its four major shareholders who own more than 3% of the bank’s share capital.

The retail trade index rose an annual 4.7% in November 2016 in terms of value and 7.4% in terms of volume, the statistical service said.

A new study on tourism development suggests that by 2030 tourism arrivals could go up by 82%, revenues increase by 185% and 64% more staff employed in the industry if the study’s strategy is implemented.

The revitalisation of the Larnaca port is moving forward, with the Cyprus Port Authority putting down the money as both expenditure and revenue following a bill failure in the House that froze funds.

The Cyprus economy is set to go under the microscope of international credit rating agencies, with March and April 2017 being particularly important months.

The Eastern Mediterranean Pipeline for natural gas (EastMed) with an estimated cost of $6 billion is both technically feasible and financially viable according to a report by company EDISON.

The government bought back in December 2016 outstanding government development stock maturing in July 2019 worth €300m held by a domestic investor, a Finance Ministry source said.

Finance Minister Harris Georgiades and Enzo Quattrociocche, secretary general of the European Bank of Reconstruction and Development (EBRD), have signed a memorandum of understanding setting out Cyprus’ responsibilities in organising the bank’s annual general meeting (AGM) in May 2017.