The share of energy from renewable sources in gross final consumption of energy is on the rise across the European Union including in Cyprus, according to figures released by Eurostat recently.

Energy minister George Lakkotrypis will kick off the Fourth Eastern Mediterranean Gas Conference (EMGC) during which gas industry executive speakers will explore the region’s potential natural gas resources and the path to production.

A second super-giant gas field like Zohr could be awaiting discovery in the eastern Mediterranean, perhaps off the coast of Cyprus, Italian energy giant ENI said recently.

The third licensing round of the exploration of Cyprus’ exclusive economic zone (EEZ) was successfully completed, the Cabinet announced after a meeting on Tuesday, the 7th of March, 2017.

The trade deficit of Cyprus increased to €4.223,4mn in 2016, from €3.402,0mn in 2015, the Statistical Service said recently.

A series of projects coordinated by the Limassol Development Company (ANELEM) will see millions in EU funds being used to help make communities in the district more attractive to tourists.

The number of property transactions dropped 9% in February 2017 to 456 compared to the respective month of 2016, the Department of Lands and Surveys said.

The president of the European Investment Bank Werner Hoyer said that while Cyprus’s economy “made huge progress” following the financial crisis of 2013, the unemployment rate remains high and much remains to be done.

Italian energy major Eni has finalised a farm-in agreement with France’s Total to acquire 50% participating interest of Block 11, offshore Cyprus.

Reborn Cyprus Airways expects to get an air operator certificate within days followed by a commercial license in a couple of weeks so as to begin selling tickets.