Cyprus’ economy is expected to grow at a rate ranging from 2% to 2.5% in 2017 and 2018, the European Bank of Reconstruction and Development (EBRD) said.

The Cypriot Finance Ministry announced on Monday, 8th of May, 2017, that Cyprus and Luxembourg signed a double tax avoidance and prevention of tax evasion treaty, based on the model convention of the Organisation for Economic Cooperation and Development.

Debt solvency of the Republic of Cyprus will be going under new evaluations from the credit rating agencies which are expected to issue new ratings in July 2017, with the investment grade within reach.

Cyprus and Luxembourg, two of the EU’s financial centres, recently cautioned against the implementation of the proposed Common Consolidated Corporate Tax Base (CCTB) in the European Union.

Larnaca has reached the top three in an Airports Council International (ACI) Europe listing of hubs with the most significant growth in air transport during the first quarter of 2017.

The development of Egypt as a regional energy hub seems to be the most advantageous and competitive solution for gas exports from Cypriot and Israeli reserves according to a recent study.

The EBRD is providing a €10 million trade finance facility to Alpha Bank Cyprus for guarantees in favour of confirming banks to cover the political and commercial risk of trade finance instruments issued by Alpha to facilitate foreign trade finance activities.

Cyprus’ energy prospects were among the topics discussed recently by President Nicos Anastasiades with the Energy Strategy Council, with an eye towards making the Council a permanent institution in the future.

Cobalt Air has announced the addition of a sixth aircraft to the fleet.

The chairman of the Consultation Council of Oman, Khalid Al Mawali and Speaker of the House of Representatives Demetris Syllouris recently discussed ways to further strengtheneconomic ties between Oman and Cyprus.