The Cyprus economy has rebounded and set upon solid foundations said the deputy government spokesperson Victoras Papadopoulos.

Protaras is bracing for the first big wave of tourists with around 8,000 Austrian visitors expected to pack into the hotels up until April 2017.

The House finance committee concluded discussion of amendments to the Business of Credit Institutions Law, which allows banks to manage real estate properties and companies via debt for property swaps.

British travellers wanting a bargain city break should head to Cyprus, a study has found.

Deposits in the Cypriot banking system rose in February 2017 by €174.9m in a month to €49.3bn, the highest since August 2013, as the downward trend in loans was halted, the Central Bank of Cyprus said.

Local and foreign candidate investors will soon be able to retrieve information on the processes and various licenses required for the investment they plan to make on the island.

Employment in Cyprus followed an upward path in the fourth quarter of 2016, the Cyprus Statistical Service said recently.

Cyprus now has the chance to have a renewed leadership in the region of Mediterraneanand the Middle East, Former Minister of Foreign Affairs of Spain and former EU special representative for the Middle East Miguel Ángel Moratinos has said, suggesting the creation of a high authority for energy and water in the region.

The government’s deposits at the Central Bank of Cyprus fell by €60.9m in a month to €1.1bn in February 2017, the central bank said.

Wholesale trade continued to rise in the fourth quarter according to the latest data released by the Statistical Service, Cytsat.