Seasonally adjusted GDP rose by 0.7% and 2.8% in Cyprus on a quarterly and annual basis, during the third quarter of 2016.

Business woman and philanthropist Yelena Baturinam, described as Russia’s richest woman, has announced the launching of a new €40 million construction and development project in the coastal town of Limassol.

The Eurogroup has called on Cyprus to adopt “a significant number of additional measures” to achieve its medium-term budget objectives, but only if a deviation from fiscal goals is found to exist.

The unemployed persons, registered at the District Labour Offices on the last day of November 2016, reached 40,646 persons.

Property sales in Cyprus recorded a large increase of 46% in November 2016 compared with the same period last year, according to the latest official figures published by the Department of Lands and Surveys.

In October 2016 compared with September 2016, the seasonally adjusted volume of retail trade rose by 1.1% in the euro area (EA19) and by 1.2% in the EU28, according to Eurostat.

The Industrial Output Prices Index for October 2016 reached 98.8 units (base 2010=100), remaining stable compared to September 2016, according to data from the Statistical Service of Cyprus.

The Turnover Value Index of Transport and Storage for the third quarter of 2016 recorded an increase of 2.7% compared to the corresponding quarter of 2015, announced the Statistical Service of Cyprus recently.

The seasonally-adjusted unemployment rate for Cyprus was 12.0% in October 2016, unchanged since September, but much lower than the 13.8% same month last year.

The EastMed gas pipeline is both technically feasible and commercially viable, a preliminary study into the mooted project has determined.