Energy cooperation between Cairo and Nicosia, developments on the Cyprus issue and the promotion of business projects were the focal point of recent discussions between Foreign Minister Ioannis Kasoulides and Egypt’s political leadership.

Credit institutions are set to announce their fiscal results for the first half of 2016, with all managing boards hoping for a break from the results of the past five years.

Cyprus is now well into its third year of deflation. According to the EU-harmonised consumer price index, prices fell by 0.4% in 2014, 1.5% in 2015 and by 1.9% in the first half of 2016.

Cyprus is moving ahead with oil exploration in its Exclusive Economic Zone, despite recent threats by Turkey.

The University of Nicosia recently announced the operation of the Cyprus Maritime Academy at the Bernhard Schulte Shipmanagement Centre for Nautical Education, where the academy’s facilities are housed.

Airports operator Hermes expects that by the end of 2016 some 8.5 million passengers will travel through Larnaca and Paphos, a new record.

A recent report has shown that Cyprus is officially one of the safest countries in the world.

Household debt fell slightly in Q1 2016, compared with the previous quarter, to 127.3% of GDP, or €22.2bln, the Cyprus Central Bank said recently.

More than €6m was spent in the north of the island and in Turkey on credit cards issued in the government controlled areas of the Republic of Cyprus so far this year, according to figures released recently by JCC.

The majority of foreign-exchange firms in Cyprus engage in traditional trading, with roughly 40% offering derivative financial products, Cyprus Securities and Exchange Commission (CySEC) chairwoman Demetra Kalogirou said recently.