The number of registered unemployed fell in May 2017 an annual 12% and a monthly 8.8% to 29,922, and for the first time below the 30,000 since October 2011, the statistical service said.

The Cyprus harmonised consumer price index rose 0.9% in May 2017, compared to the respective month of 2016, and 0.1% compared to the month before, the statistical service said.

DBRS rating agency has upgraded the Republic of Cyprus’ long-term foreign and local currency issuer ratings from B to BB (low) and changed the trend from Positive to Stable.

CyprusProfile.com asked Demetris Kouloundis, Regional Sales Director MEA of Kardex Systems Ltd., about the key advantages of investing in Cyprus.

CyprusProfile.com asked Victor Kislyi, CEO of Wargaming.net, about the key advantages of investing in Cyprus.

Current VAT problems, solutions and opportunities will be examined at the upcoming Limassol VAT Forum by three all-star panels made up of prominent VAT professionals and academics from Cyprus and abroad.

Three credit institutions – Bank of Cyprus, the Cooperative Central Bank (CCB) and Hellenic Bank – make up 68.5% of the loan market share (€54.6 billion), and 68.6% of deposits at €49.2 billion.

Cyprus ranks 37th on the competitiveness of its economy out of 63 countries according to the IMD World Competitiveness Ranking, in which it was included this year for the first time, a press release of the Economics Research Centre of the University of Cyprus says.

A water arch welcomed Cyprus Airways’ inaugural flight on June 2, 2017, which returned from St. Petersburg to Larnaca airport.

The handover of 25% of Cooperative Central Bank stock to its depositors and borrowers, which the government decided on May 31 2017, may be reflected on the budget, according to the Treasury, something Finance Minister Harris Georgiades denied.