The Council of Ministers of Cyprus approved on Wednesday, 15 February 2017 the Cypriot startup visa scheme with the aim of attracting investment from foreign investors in the area of innovation and research.

Applications of stakeholders interested in the joint development of Larnaca port and Larnaca marina as well as the surrounding premises will be submitted on March 3, 2017, Transport, Communications and Works Minister Marios Demetriades has announced.

Cyprus has a very strongship-management sector, offers services to almost 5% of the world`s fleet and has around 22-25% of independent third party ship-management, Transport, Communications and Works Minister Marios Demetriades has said.

Cyprus Statistical Service (CyStat) announced that the Harmonized Price Index for January 2017 increased by 0.7% compared to January 2016, while compared to December of 2016 it decreased by 0.8%.

RCB Bank announced that it was ranked the Safest Bank in Cyprus for 2016 in a survey by the distinguished international publication ‘Global Finance Magazine’.

Energy Minister Giorgos Lakkotrypis is moving quickly with LNG plans for Cyprus, following the completion of a study into the best options for liquefied natural gas as an energy alternative.

Satlink Satellite Communications Ltd, a member of The Tototheo Group, a significant global player in satellite communication and technical services, has entered into a new agreement with Inmarsat to integrate Fleet Xpress into Satlink’s existing service portfolio.

The industrial turnover index rose an annual 7.2% in November 2016 as the increased sales at home more than offset a drop in exports, the statistical service said.

The government’s cash reserves deposited at the Central Bank of Cyprus rose in January 2017 to almost €1.2bn by €467.4m compared to December 2016, the Central Bank said.

Cyprus has the highest dependency, and the biggest share of reliance on fossil fuels for energy within the EU, according to a Eurostat report released recently.