The Central Bank of Cyprus said that it expects the economy to expand at an annual rate of around 3% over 2017 until 2019 and upgraded its 2016 projection marginally upwards to 2.8%, as inflation is expected to pick up.

Two new Cypriot airlines are set to begin flights from March 2017 after reaching the advanced stage of their authorisation procedures, according to the press.

European Investment Bank (EIB) President Werner Hoyer will pay a visit to Cyprus on December 23 2016, a press release from the Ministry of Finance said.

The Cyprus Development Bank (cdbbank) was awarded as the Best Corporate Bank of Cyprus for 2016 by the renowned business magazine Capital Finance International (CFI.co).

More than 80% of persons aged 16 to 74 in the European Union (EU) used the internet in 2016.

BookYourWeddingDay.com, the only international platform for booking a date for a civil wedding instantly, was recently launched with great success.

The House Communications Committee recently convened to discuss the €1.3million in funding for the development of the Larnaca port and marina, which was controversially halted, effectively stunting development in the coastal town.

Hourly labor costs rose by 0.2% in Cyprus, by 1.5% in the euro area (EA19) and by 1.9% in the EU28 in the third quarter of 2016, compared with the same quarter of the previous year, according to Eurostat. The increase in Cyprus was the smallest in EU.

Cyprus will on December 23 2016 sign its first agreement with the European Fund for Strategic Investments, also known as the Juncker Fund, aiming at encouraging lending to small and medium-sized enterprises in Cyprus.

Neighbouring Israel is poised to begin development of its massive Leviathan natural gas reservoir, according to reports in the Israeli media.