Cyprus' Industrial Turnover Index for April 2016 marked an increase of 0.9% year on year reaching 76.5 units, the Statistical Service (Cystat) has announced.

The Council of Europe Development Bank will extend a €32m loan to the University of Cyprus to finance the expansion of its campus, the Finance Ministry said.

Moody’s Investors Service said that it expects that 2016's strong performance of the tourism industry will help Cypriot banks via opportunities to extend new lending and sell assets in their possession and reduce their stock in bad loans.

The amount of non-performing loans in the Cypriot banking system fell by €144.3m from April to May 2016, and by €1.6bn compared with May 2015, to below €25.4bn, which is the lowest since December 2014 when the current methodology was introduced, the Central Bank of Cyprus said.

A Bloomberg survey of 9 economists' forecasts for Cyprus’ economic indicators through 2018 is good news for the Cyprus economy.

The countdown to submit proposals for research and exploitation of hydrocarbons in the three blocks of the Cypriot EEZ up for offer in the third licensing round has begun.

The number of tourist arrivals in June 2016 rose 23% to 413,114 compared with the respective month of 2015, as the number of visitors from almost all major markets continued to rise, the statistical service said.

Bids for Cyprus' 7-year bond under the EMNT programme reached €2.462.698.000, exceeding by two and a half times the original target of the Ministry of Finance, with a yield of 3.80%.

The Republic of Cyprus signed an agreement for the avoidance of double taxation (‘DTT’) with Jersey, during a ceremony at London’s Cyprus High Commission on 11 July 2016.

The construction of luxury residential twin towers which will be part of the new Ayia Napa marina will start in late September 2016, Mayor Yiannis Carouses announced recently.