The state has so far put some €31.6m in its coffers from immovable property tax (IPT), as the rate of compliance touched 91%, it was announced recently.

In any organization the Directors and the Board need to provide the leadership and accountability that determine the future success of the organization. Directors, are under a great pressure, and in many cases suffer from stress and an out of balance work/home life. Directors undertake a major role that includes many responsibilities; many of these responsibilities are enforced by regulators whereas some are imposed by the stakeholders of the organization they are asked to lead.

A deal to end the division in Cyprus could transform the fortunes of the easternmost outpost of the EU, and while both sides resume talks for the third day at the Palais des Nations, travel firms and prospective holidaymakers are watching the talks in Geneva with interest.

General government accounts posted a surplus of €65.5 million for the period of January–November 2016, compared to a surplus of €11.5 million in the corresponding period of 2015, owing to a reduced balance deficit.

Trade deficit increased in November 2016 by 25% to € 338.508 compared with €270.596 in November 2015.

Hellenic Bank, Cyprus’ third largest lender, said that it signed an agreement with APS Holding s.a. to set up APS Recovery Cyprus Ltd that will manage the bank’s loans in arrears and its real estate assets.

The first airport hotel and conference centre in Cyprus, a Radisson Blu hotel, is scheduled to open in Larnaca in 2019, it was announced recently.

Nicosia Municipality expressed their satisfaction that the island’s capital, along with Paphos, was on the New York Times list of places to visit in 2017.

The Cyprus Energy Regulatory Authority (Cera) has unveiled its latest stopgap proposal ahead of the full opening up of theenergy market.

Loan restructuring in the state-owned cooperative credit sector reached €1.25 billion in 2016, marking an increase of 20% year on year, reducing the NPL ratio to a historic 47% of the Co-op’s total loan book, the CCB Chief Executive Officer Nicholas Hadjiyiannis has said.