Cyprus’ government debt rose in September 2016 to €19.7bn or 110.6% of economic output, which is the fourth highest ratio in the European Union, Eurostat said.

House prices, as measured by the House Price Index, rose by 3.4% in the euro area, by 4.3% in the EU and dropped by -3.3% in Cyprus, during the third quarter of 2016 compared with the same quarter of the previous year.

In spite of the increased numbers of tourists in 2016 who visited Cyprus, the five main markets that supplied the largest number of tourists remained the same.

While vice-chairman of Bank of Cyprus (BoC) Wilbur Ross is expected to quit his position to become US Commerce Secretary, the company WL Ross & Co will continue to be invested in the bank, which is set to list on the London Stock Exchange.

Euro area annual inflation was 1.1% in December 2016, up from 0.6% in November and 0.1% in Cyprus, up from -0.8% in November according to Eurostat.

The Bank of Cyprus (BoC) share price briefly leapt to €4.45 in London trading as it made its debut on the London Stock Exchange (LSE).

Cyprus’ most established recruitment agency, GRS Global Recruitment Solutions, recently reached a milestone as it celebrated its 12th anniversary, confident that the island boasts a highly skilled workforce as the economy returns to recovery.

January 24, 2017 will be a landmark date for Larnaca, when its refinery will finally begin to be stripped down.

The Lanitis seafront development, a new addition to Limassol’s skyline along the city’s coastal strip, has been given the go-ahead by the Limassol environment department and work on the three luxury tower blocks is expected to start soon.

Tourist arrivals in Cyprus in 2016 reached 3,18 million, marking a new all-time record after 2001, figures released recently by the Cyprus StatisticalService (Cystat) show.