The consumer price index rose an annual 0.5% in January 2017, mainly on higher energy prices ending prolonged deflation period which started in June 2013, the statistical service said.

The annual rise in deposits to the Cypriot banking system is improving the banks funding structure, rating agency Moody's said as deposits rose by €3 billion in 2016.

Lebanon is finally getting serious about developing its offshore oil and gas reserves thanks to a reduction in domestic political tensions, a senior industry veteran told a high-profile energy conference in Athens recently.

The number of company registration applications in Cyprus have continued to increase for the 3rd consecutive year according to data released by the Department of the Registrar of Companies and Official Receiver (D.R.C.O.R.) of the Republic of Cyprus.

Chairman of the Maritime Institute of Eastern Mediterranean 'Marinem', Zacharias Shiokouros, has put forward a proposal aiming at promoting cruise tourism in the region.

A huge seafood restaurant, the first phase of the luxury ‘Castle Project’ at Larnaca’s Mackenzie beach is expected to be completed in May 2017.

Naguib Sawiris has started marketing his €220 mn Cypriot luxury real estate project, Ayia Napa Marina, to investors in the UAE, according to press reports.

The Industrial Output Prices Index showed a decrease of 3.7% between January-December 2016, compared to the corresponding period of the previous year, the Statistical Service announced recently.

The government will not sell its Troodos properties, the state lottery, and the Cyprus Stock Exchange (CSE).

The first signals of 2017 on tourism are positive, as pre-bookings from international markets reveal.