The trade deficit stood at €2.20 billion in the period January-June 2016, recording an increase of 43% compared with €1.54 billion in the corresponding period of 2015, according to the latest data released by the Statistical Service of Cyprus.

The value index of the retail trade in July 2016 increased by 1.7% compared to July 2015, provisional estimates of the Cyprus Statistical Service shows.

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There are now even more airlines connecting Cyprus to Germany, as Transavia plans to link Larnaca and Munich from 2017.

The Cyprus Finance Ministry has successfully raised €35,54 million, afterissuing the 10th series of a six-year bond for natural persons.

Finance Minister Harris Georgiades submitted the government’s €7bn budget to the parliament recently, which provides for a fiscal gap of 0.6% of the economy and dismissed rumours that the ministry is considering a tax amnesty, the Cyprus News Agency reported.

French gas giant Total is ready for exploration in Cyprus' Exclusive Economic Zone for the period 2017-2018, which coincides with apush to reunite the island and maximise benefits from natural resources.

Cyprus banks are seeing the highest liquidity in the financial credit system for the first time since March 2013, when the banking crisis was in full swing.

EU regulators will order the three major Cypriot banks to raise provisions even higher, according to recent press reports.

Cyprus, Greece and Israel discussed ways to promote the construction of the East Med pipeline, that would transport natural gas from the Eastern Mediterranean to Europe through Greece.