According to a recent Moody’s report entitled: "Banking System Outlook– Cyprus; Stronger Funding And Gradual Improvements In Asset Quality Drive Our Positive Outlook," Moody's Investors Service maintains its positive outlook on the Cypriot banking system, a fact that shows their anticipation for the evolution of the bank’s creditworthiness over the next year and further funding and loan quality improvements.

Cyprus and China initialed Beijing, a Cooperation Protocol for exports of dairy products.

Τhe number of dwelling units recorded a significant increase of 14.1% in 2016.

Total deposits in the Cypriot banking system in January 2017 amounted to €49 billion, marking an increase of 6% year on year, according to data released by the Central Bank.

Wilbur Ross has resigned as vice-chairman of Bank of Cyprus (BoC) following his confirmation as US Commerce Secretary, the island’s biggest lender, announced recently.

Bank of Cyprus (BOC) made an after-tax profit of €64m in 2016, while Hellenic Bank reported a €62.7m loss according to the banks’ preliminary Group financial results published recently.

The government sold a total of €100m in 13-weeks treasury bills on February 28, with yields reaching -0.4%, a new all-time low as the downward trend continues, the Public Debt Management Office said.

Monetising the Aphrodite gas field is a top priority for the government, which based on expected future gas finds is also looking at options, including a liquefaction terminal at Vassilikos, President Nicos Anastasiades said recently.

Total tourism revenue rose in 2016 by 12% to below €2.4bn compared to 2015, the statistical service said.

The goal is to sign contracts for the development of the port and the marina of Larnaca by the end of 2017, Transport Minister Marios Demetriades said recently.