Economic sentiment in Cyprus improved as the Economic Sentiment Indicator increased by 5.1 points compared to July 2016, as a result of the pickup of business confidence in services, retail trade and industry.

Cyprus’ government decided to buy back up to €258.5m of outstanding domestic government securities maturing between April 20, 2020 and July 1, 2021, the Finance Ministry said recently.

Top quality medical practitioners and state-of-the-art facilities, coupled with 340 days of sunshine and crystal blue seas have established Cyprus as a destination of choice for the growing number of international medical tourists.

Tourism operators in Ayia Napa and Protaras are confident they can maintain the current high levels of hotel capacity until at least the beginning of October 2016.

The Cyprus Statistical Service reports that the total sales of petroleum products in July 2016 recorded an increase of 3.1% compared to the previous month.

Central Bank of Cyprus governor Chrystalla Georghadji said that she expects a substantial drop in non-performing loans, the latest by 2020 after their increase was halted in 2015.

The government sold a total of €100m in 13-week treasury bills at an auction with an average yield of 0.61%, slightly below the previous auction, the Public Debt Management Office said.

Egypt and Cyprus are expected to sign the first of three bilateral agreements on natural gas when Egypt’s energy minister Tarek El Molla visits the island on August 31, 2016.

The prospect of a land-based liquefied natural gas (LNG) plant could be back on the table if Total finds significant quantities of gas when it drills in Block 11 or if the new licensing round comes up with large discoveries, according to Energy Minister Yiorgos Lakkotrypis.

Bank of Cyprus has announced that its new holding company, Bank of Cyprus Holdings PLC was incorporated in the Republic of Ireland earlier this year, in order to be included in the FTSE UK index series.