Ship management revenue declined by 3% to €438 million in the first half of 2016, reflecting a weak global demand and the downturn in freight markets, a Central Bank of Cyprus (CBC) report has said.

The Consumer Price Index for October 2016, increased by 0,08 units to 99,22 units compared to 99,14 units in September 2016.

The numberof registered unemployed fell 8.9% year-on-year in October 2016, to 33,706, the lowest figure since January 2012, the statistical service said.

The number of property transactions in Cyprus rose 37% in October 2016, compared to the respective month of 2015, as demand from foreign buyers remains strong, the Department of Lands and Surveys said.

The Cyprus government has assured that it will not relax its reform drive, as the IMF and the European Commission indicate that despite exiting a 3-year economic adjustment programme the Cypriot economy is still vulnerable.

A settlement of the Cyprus problem would entail tremendous investment opportunities in the long term but would be accompanied by short-term challenges, the European Commission and the IMF have said.

The tallest residential seafront tower in Europe and a restaurant on water, both on the Limassol coast, won major prizes at a recent prestigious awards ceremony in London.

Transport Minister Marios Demetriades is paying a visit to Hong Kong and Shanghai on the occasion of the 'Investment Opportunities in Cyprus' seminars organised there by the Cyprus Chamber of Commerce and Industry.

Stratfor, a leading geopolitical intelligence platform, is reporting that Cyprus is a key part of Russia’s strategy for the region in terms of politics and energy and would prefer the island remained divided.

The chairman of the European Stability Mechanism Klaus Regling, a fund that finances bailouts in the euro area, said that Cyprus needs to go harder on non-performing loans.