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.

Cobalt’s first direct flight from Larnaca to Madrid is set for April 4, the low-budget Cypriot carrier announced recently.

New companies registered with the Department of the Registrar of Companies and Official Receiver this January were up by 14.7% compared to the same month of 2016, making January the 17th month in a row with an upward trend.