Revenue from tourism recorded a significant increase 12.3% between January and November 2016, Cystat, the Statistical Service of Cyprus said recently.

The Cooperative Central Bank leaves the possibility of establishing its own platform for managing non-performing loans open, making it clear at the same time that such a scenario will be put in place only under specific circumstances and provided its viability is ensured.

Measures taken by the Cypriot government as regards digital economy are good and promising, Andrus Ansip, Vice-President of the European Commission for the Digital Single Market, said recently.

Cyprus’ government guarantees stood in 2015 at 15.4% of economic output and were together with those of Germany, the European Union’s fifth highest, the EU’s statistical office said.

Terminal operator DP World took over operations of the Limassol port.

The government sold a total of €100m in 13-week treasury bills at an average yield of 0.01% below zero, which is a new all-time low, the Public Debt Management Office (PDMO) said.

Applications made to the immovable property commission by the Greek Cypriots fell 73% in 2016 compared to the figures of 2015, the press reports.

Limassol has been a foreign investment magnet for decades, transforming itself into a city with landmark buildings, high rents and trade, and its success allowed it to survive the recent crisis comparatively unscathed.

High-level government officials from Cyprus, Greece, Israel and Italy plan to meet in February 2017 to discuss a natural gas pipeline from the East Mediterranean fields to Greece and Italy, according to press reports.

The net amount of outstanding loans in the Cypriot banking system dropped by €98m in December 2016 in a month to €54.4bn, as net deposits also fell by €74.9m to €49bn, the Central Bank of Cyprus said.